Industrial development in Gujarat is going to get a further boost. The state government has taken an important decision to encourage the entrepreneurs of the state. Home and Industry and Minister of State Deputy Chief Minister Harsh Sanghvi has deposited financial assistance of more than Rs. 100.19 crore in the accounts of 14,853 industries of the state through a single click. This decision of the government is seeing great enthusiasm especially among small and medium scale industries.
To promote 'Ease of Doing Business' in the industrial sector, the government has abolished the mandatory condition of bank loan for MSME units to avail incentives. With this historic change, entrepreneurs who start their own businesses without bank loans will also get the direct benefit of incentives. In addition, as many as 16 documents have been reduced to simplify the application process. The government claims that the speed of disposal of files has increased three times in the last six months, due to which beneficiaries are getting financial assistance faster.
To strengthen industrial infrastructure, GIDC has allotted 407 industrial plots spread over 85 acres of land through online lucky draw. 4,665 applications were received for these 407 plots. More than 346 applications have been received from big industries under the new industrial policy. Also, drainage, street lights and service lines are being jointly planned under the 'Smart GIDC' concept. The state government team will also visit Japan and South Korea for future new technologies and global partnerships.
Due to Gujarat's positive industrial environment and policies, as many as 27 industries from other states have returned to Gujarat, which is a testament to the state's strong economic policies. The government is emphasizing on giving special incentives to young entrepreneurs and women startups. Out of the total 14,853 beneficiaries, 11,052 MSME units are included, which shows that small industries are the mainstay of the state's economy.
