In a bid to facilitate business and industry, the Gujarat government has “tweaked” paragraph 16 of the general rules of Gujarat Industrial Policy 2020. Going forward, companies can seek financial benefits in the form of incentives from more than one department for projects launched in the state.
Insiders shared that a particular clause in paragraph 16 has been done away with. What read earlier as enterprises cannot avail benefits from different departments “for the same component” will now be modified with the exclusion of “same component.” The revised clause stands applicable retrospectively from September 2020, stated a notice issued by the state industries and mines department.
Sources added that industrial bodies had long been demanding a change of the same to make way for smother operations.
Explaining the impact of the revision in rules, government officials added that under the industrial policy, a company can now avail benefits such as subsidies and other funds for MSMEs and environment-related projects like setting up of CETPs. In many cases, the financial benefits are granted by departments other than the industries and mines.
With this change, eligible companies can avail of and assistance benefits from various departments.