Gujarat Removes Mandatory Bank Loan Requirement For MSMEs To Access Industrial Incentives

Gandhinagar, Oct 16 (KNN) The Gujarat government has removed the mandatory bank loan requirement for micro, small and medium enterprises (MSMEs) to qualify for industrial incentives, allowing entrepreneurs investing their own capital to access the benefits, Deputy Chief Minister Harsh Sanghavi said on Wednesday.

The announcement came as the state government transferred Rs 1,100.19 crore to 14,853 industrial units through a single-click mechanism at a programme in Gandhinagar.

The government has also reduced around 16 paperwork and documentation requirements to simplify the incentive process and accelerate administrative clearances.

MSMEs Receive Rs 444 Crore In Industrial Incentives

Of the total incentives disbursed, Rs 444.03 crore was provided to 11,052 beneficiaries under various MSME schemes, while Rs 290.42 crore went to 3,591 beneficiaries under textile schemes, reported IANS.

Another Rs 360.89 crore was disbursed to 196 beneficiaries in the large industries sector, and Rs 4.85 crore was provided to 14 beneficiaries under other schemes.

Addressing the gathering, Sanghavi said industrialists and traders had made a significant contribution to Gujarat's development. He added that the government was committed to working with entrepreneurs and establishing a transparent administrative system.

According to Sanghavi, the pace of file disposal had increased threefold over the past six months.

GIDC Allots 407 Industrial Plots To MSMEs

The Gujarat Industrial Development Corporation (GIDC) has allotted 407 industrial plots through an online lucky draw, against 4,665 applications received.

The plots, each measuring less than 3,000 square metres, cover 85 acres across Shekhpat, Khirsara-2 and Sanand-2 and are intended for MSME units.

Sanghavi said the state's new industrial policy had attracted more than 346 applications from large industries, including 27 companies that had returned to Gujarat from other states.

State To Support Startups And Women Entrepreneurs

The government will provide special encouragement to first-generation young entrepreneurs and women-led startups, with particular attention to industries generating employment for women in tribal areas.

Referring to the proposed Smart GIDC industrial estates, Sanghavi said cleanliness and basic amenities for workers should be prioritised.

He said infrastructure projects would require integrated planning for drainage, streetlights and service lines, rather than focusing only on road construction.

Sanghavi also announced that a state government delegation would visit Japan and South Korea to explore opportunities for technology transfer and partnerships with international companies.

(KNN Bureau)