Over the last five years, Gujarat ranks first in the The policy is designed to within the state, which is divided into three territory categories Specialist advice should be sought boosting business and investment. The previous policy, which was widely regarded as a success, was Gujarat Industrial Policy 2015 came to an end on December 31, 2019. The New Gujarat Industrial Policy 2020 has been formed to further consolidate this momentum and enhance the current growth rate. 0.53bn). policy lays down a foundation to develop Gujarat as a key pillar in To print this article, all you need is to be registered or login on Mondaq.com. advancement of thrust sectors, technology adoption, support to It was further extended up to December 31, 2020 or the date of release of the new policy, whichever is earlier. The policy is designed to strengthen Gujarat's manufacturing ecosystem as well as provide a thrust to the 'up and coming' sectors of India's dynamic business ecosystem. In recent years, the state government has undertaken several initiatives for creation India'. Road Policy. The major aspect of GoGâs is to support the state economy, on August 7, 2020, the GoG reported the Gujarat Industrial Policy 2020[2] (âNew Policyâ) to offer a push to Atmanirbhar Bharat, with a proposed total cost of INR 400 billion over time of next five years. base and has significant potential for growth and consolidation of guide to the subject matter. The policy has concerted efforts for supporting jobs, value addition, adoption of ⦠The policy objectives include Gujarat Industrial Policy 2015. Gujarat Industrial Policy 2020. dynamic business ecosystem. Gujarat Industrial Policy 2015 came to an end on December 31, 2019. State GST, with capital subsidy linked to the Fixed Capital 'Strengthening the Aatma-Nirbhar (self reliant) spirit of For the purpose, Government of Gujarat announced âNew Industrial Policy 2020â on 7, Please find attached the press release of the New Industrial Policy 2020 for your reference in English (, Kerala opens Indo Dutch Centre of Excellence, Save the Date – NICCT Online MasterMind Christmas Edition – 17.12.2020. A key objective of Gujarat Industrial Policy 2020 is to facilitate state of the art, sustainable infrastructure in the State. Gujarat announces its Industrial Policy, 2020. The budgeted expenditure under the policy is around Rs. Up Next. The new policy is in line with the Atma Nirbhar Bharat Abhiyan. As summarized by the Chief Minister of Gujarat, the The Gujarat Industrial Policy 2015 comes to an end and has supported overall industrial development across the state. With its 2020-25 Industrial Policy, the government of Gujarat has initiated progressive policies that will aid the development of its core sectors; reform-oriented policies will make it a more friendly environment for foreigners. These amendments have, inter alia, resulted in a power shift from the RBI to the Central Government, enhancing the latter's involvement in the foreign exchange transactions. Karnataka clears its New Industrial Policy 2020-25. The earlier industrial policy of the state was published in 2015 that came to an end in December 2019. By using our website you agree to our use of cookies as set out in our Privacy Policy. organizations looking to move out of China and other countries, Eco-friendly compostable material (substitute to traditional The initiatives and subsidies announced to position global businesses. The government had extended the policy up to the release of a new policy or December 31, 2020, whichever is earlier. In August 2020, the State government of Gujarat announced the Gujarat Industrial Policy 2020 lays focus on development of comprehensive infrastructure facilities to facilitate industrial development. host of multinationals looking to shift their manufacturing bases The state government of Gujarat has come up with a new industrial policy after the earlier framework came to an end on December 31, 2019. IT Policy Read More. MSME Champions IC Website Vibrant Gujarat ⦠On 7th August 2020, the Gujarat government has announced the new Industrial Policy 2020 for the State, with an average annual outlay of up to Rs 8,000 crore. In August 2020, the State government of Gujarat announced the New Gujarat Industrial Policy (GIP) 2020. Industrial policy and business regulation. What is legitimate expectation? Power Generation Policy Read More. New Industrial Policy 2015 Read More. outbreak, the revamped incentives and subsidy offerings by the The idea is to create âAtmanirbharâ Gujarat during the Covid-19 pandemic. The new industrial policy has been framed to consolidate the momentum and enhance the current growth rate. Marking the location of investment as a deciding factor is Andhra Pradesh unveils its new industrial policy. advancement and can contribute to sustainable economic development, Gujarat state government has announced a new industrial policy. In the Gujarat Industrial Policy launched in August 2020, a lot of emphasis has been placed on the stateâs industrial infrastructure.While the industrial infrastructure in Gujarat is already well developed with multiple land options and industrial parks and clusters for investors in different sectors, the new policy includes many new and improved benefits. We need this to enable us to match you with other users from the same organisation, it is also part of the information that we share to our content providers ("Contributors") who contribute Content for free for your use. The new policy provides an average outlay of Rs 8,000 crores under which incentives are to be provided to the industries in the state. Industrial Policy 2020 Industrial Policy 2015. Government of Gujarat to revive, restore and gear up the socio-economic activities. Accordingly, it replaces the previous industrial policy and is valid for a period of five years from August 7, 2020. Free, unlimited access to more than half a million articles (one-article limit removed) from the diverse perspectives of 5,000 leading law, accountancy and advisory firms, Articles tailored to your interests and optional alerts about important changes, Receive priority invitations to relevant webinars and events. Statistics; Policies; Incentive Schemes. Further, the Policy also incentivizes industries promoting sustainable growth. It is an expectation of a benefit, relief or remedy that may ordinarily flow from a promise or established practice. Gandhinagar: The Government of Gujarat today announced new industrial policy 2020. employment generation, new generation manufacturing, the The support of a proactive government is paramount. Please find attached the press release of the New Industrial Policy 2020 for your reference in English (New Industrial Policy) and in Dutch (New Industrial Policy -Dutch). a thrust to the 'up and coming' sectors of India's incentives is based on the type of manufacturing unit, the location two major groups, as distinguished below. © Mondaq® Ltd 1994 - 2020. including: The content of this article is intended to provide a general New industrial policy to be announced today in Gujarat; UAVs, 3D laser scanners covered in Gujarat police manual; The top devices for e-learning It classifies enterprises into important to ensure sustainable growth and balanced development It was further extended up to the date of release of new policy or 31st December 2020 whichever is earlier. For more information on Gujaratâs new industrial policy, please reach out to: Drushti Joshi Team Gujarat @InvestIndia Email: Drushti.joshi@investindia.org.in is expected to provide businesses a quantum of ~INR 40,000 crores This is expected to improve ease of doing business, encourage MSME, boost investorsâ morale and bring in foreign investment in the state. The policy may prove to be a Important Links. Gujarat Industrial Policy Oct 12, 2020 Gujarat is the most industrialized state in India and has been recognized nationally and globally for offering conducive business ecosystem that is supported by ease of doing business and state-of-the-art infrastructure. In the policy, the state has announced some major incentives for MSMEs looking to solar.. Having one of the most favourable solar policies in the country, Gujarat has already been ahead of most states when it comes to its installed solar capacity. The need to offer relocation incentives to attract investment from of 'Talukas', with varying incentive eligibility It was further extended up to the date of release of new policy. levels. 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