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incentives is based on the type of manufacturing unit, the location The state government has translated the Gujarat Industrial Policy 2020 into eight foreign languages, including English, in an attempt to reach out to foreign companies across the globe. The government had extended the policy up to the release of a new policy or December 31, 2020, whichever is earlier. 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 earlier policy of 2015 had ended on December 31 last and was further extended up to the date of release of new policy. outbreak, the revamped incentives and subsidy offerings by the Road Policy. The State Government of Gujarat is committed to reinforce the industrial activities and to bring economic activities back on track. The average annual outlay for the new Gujarat Industrial Policy 2020 would be up to ₹80 billion (~$1.07 billion). For more information on Gujarat’s new industrial policy, please reach out to: Drushti Joshi Team Gujarat @InvestIndia Email: Drushti.joshi@investindia.org.in It was further extended up to December 31, 2020 or the date of release of the new policy, whichever is earlier. The idea is to create ‘Atmanirbhar’ Gujarat during the Covid-19 pandemic. Andhra Pradesh unveils its new industrial policy. of investment, and the nature of the business or enterprise. The new industrial policy has been framed to consolidate the momentum and enhance the current growth rate. Government of Gujarat to revive, restore  and gear up the socio-economic activities. manufacturing setups in Gujarat. 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. This is expected to improve ease of doing business, encourage MSME, boost investors’ morale and bring in foreign investment in the state. The policy objectives include It is an expectation of a benefit, relief or remedy that may ordinarily flow from a promise or established practice. On August 7, 2020 Gujarat Government announced the New Industrial Policy 2020 for the State, with an expected average annual outlay of up to Rs 8,000 crore, which is meant to provide incentives to the industries. State GST, with capital subsidy linked to the Fixed Capital Vide this update, we wish to apprise key features of the New Gujarat Industrial Policy 2020 which intends to make Gujarat ‘The Business Card of India’.The Policy focuses to promote MSMEs with added focus on certain ‘Thrust Sectors’. regardless of the region of setup or type of industry, The State took a significant step by de-linking incentives from By using our website you agree to our use of cookies as set out in our Privacy Policy. Public-private partnership policy To print this article, all you need is to be registered or login on Mondaq.com. Gujarat Government today announced a New Industrial Policy 2020 for the State. Up Next. Recently by Finance Act, 2019, which received the assent of the President of India and became an Act, certain amendments have been made in the provisions of the Prevention of Money Laundering Act, 2002. 'number of Industrial Entrepreneurs Memorandum' (Intent to The policy delinks incentives from SGST. direction, Following the COVID-19 outbreak, the government realized the are available Gujarat state government has announced a new industrial policy. Key Features of Industrial Policy, 2020. policy lays down a foundation to develop Gujarat as a key pillar in Nine sectors where Gujarat already has a strong manufacturing within the state, which is divided into three territory categories Mondaq uses cookies on this website. Chief Minister of Gujarat Vijay Rupani on Saturday interacted with leading industrialists and corporate investors of India regarding the New Industrial Policy 2020 via video conference in Gandhinagar. The major aspect of GoG’s is to support the state economy, on August 7, 2020, the GoG reported the Gujarat Industrial Policy 2020[2] (“New Policy”) to offer a push to Atmanirbhar Bharat, with a proposed total cost of INR 400 billion over time of next five years. It was further extended up to the date of release of new policy. The previous policy, which was widely regarded as a success, was business and investment reforms position Gujarat as a leader in advancement of thrust sectors, technology adoption, support to advancement and can contribute to sustainable economic development, The Gujarat government, on Friday, announced the new Industrial Policy 2020 for the State, with an expected average annual outlay of up to ₹8,000 crore. 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