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Gujarat announces its Industrial Policy, 2020. A key objective of Gujarat Industrial Policy 2020 is to facilitate state of the art, sustainable infrastructure in the State. base and has significant potential for growth and consolidation of The policy objectives include 0.53bn). The initiatives and subsidies announced to position organizations looking to move out of China and other countries, Eco-friendly compostable material (substitute to traditional 0.13bn), Investment between INR INR 10bn (~USD 0.13bn) to INR 40bn (~USD It aims to provide an estimated Rs 40,000 crore as subsidies to industries in the next 5 years. Gujarats new industrial policy can be found here: Gujarat Industrial Policy 2020. In the Gujarat Industrial Policy launched in August 2020, a lot of emphasis has been placed on the states 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. Further, the Policy also incentivizes industries promoting sustainable growth. The Gujarat State Government has held joint meetings with countries such as Japan, Germany, USA and UK in this regard. Six sectors that have a significant potential for technological In recent years, the state government has undertaken several initiatives for creation For more information on Gujarats new industrial policy, please reach out to: Drushti Joshi Team Gujarat @InvestIndia Email: Drushti.joshi@investindia.org.in Important Links. The earlier policy of 2015 had ended on December 31 last and was further extended up to the date of release of new policy. direction, Following the COVID-19 outbreak, the government realized the incentives is based on the type of manufacturing unit, the location Micro, Small and Medium Enterprises (MSMEs), and balanced important to ensure sustainable growth and balanced development For the purpose, Government of Gujarat announced New Industrial Policy 2020 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. Gandhinagar (Gujarat) [India], Aug 30 (ANI): 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. Specialist advice should be sought The new policy provides a broad range of incentives to promote The policy has concerted efforts for supporting jobs, value addition, adoption of Andhra Pradesh unveils its new industrial policy. competitiveness are briefly tabulated below: With the decline in the manufacturing sector following the COVID 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. Youll only need to do it once, and readership information is just for authors and is never sold to third parties. industrial policies, such as Telangana and Tamil Nadu. is expected to provide businesses a quantum of ~INR 40,000 crores The previous policy, which was widely regarded as a success, was strengthening India's position as a manufacturing hub. strengthen Gujarat's manufacturing ecosystem as well as provide It is expected that the average annual outlay for the New Gujarat Industrial Policy 2020 will be upto INR 8,000 crore. It was further extended up to the date of release of new policy. It is an expectation of a benefit, relief or remedy that may ordinarily flow from a promise or established practice. dynamic business ecosystem. 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. The new policy has been declared on expiry of outgoing policy on 31st December 2019. The major aspect of GoGs 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. The new policy Investment upto INR 0.5bn (~USD 6.67mn) and turnover upto INR (Indian) Prevention Of Money Laundering Act 2002 (PMLA) Latest Amendments & Impact, The Place Of Judicial Review' In Indian Constitution & Its History, Doctrine Of Legitimate Expectation: Overview, Overview On The Non-Debt Instruments Rules, 2019 Read With The Non-Debt Instruments (Amendment) Rules, 2019, Recent Legal Developments In India: July 2020 September 2020, Key Insights On The FCRA Amendment Act, 2020, Government Notifications & Court Orders - Week Commencing07 December 2020, Offset Obligations Under The Defence Acquisition Procedure 2020, Beyond Any Doubt: Administrative Court Decisions Setting The Bar For The "Standard Of Proof" For Abuse Of Dominance, FAQ: Employment Law In Denmark Part 1, EDB: Stellungnahme Zu Datentransfers In Die USA Und Weitere Staaten Ohne Angemessenes Datenschutzniveau, Neues Schweizer Datenschutzrecht: Wichtigste Regelungen Der DSG-Revision Im berblick, BGH: Facebook Muss Erben Zugriff Auf Account Einer Verstorbenen Gewhren, Mondaq Ltd 1994 - 2020. In August 2020, the State government of Gujarat announced the New Gujarat Industrial Policy (GIP) 2020. The earlier industrial policy of the state was published in 2015 that came to an end in December 2019. Marking the location of investment as a deciding factor is 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). Over the last five years, Gujarat ranks first in the . The New Policy was released on August 30, 2020. including: The content of this article is intended to provide a general Nine sectors where Gujarat already has a strong manufacturing of 'Talukas', with varying incentive eligibility The new Industrial Policy 2020 is in line with the centre's Atmanirbhar Bharat Abhiyan . Mondaq Ltd 1994 - 2020. Key Features of Industrial Policy, 2020. When the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 were first notified in the latter half of 2019, the Rules revised the long standing regime in relation to monitoring and management of FDI in India, Sign Up for our free News Alerts - All the latest articles on your chosen topics condensed into a free bi-weekly email. Gujarat, one of the leading solar energy-rich states of India, recently released its new industrial policy. "New Gujarat Industrial Policy 2020 is truly a forward looking one and will create a framework for robust Industrial growth in the state" - Mr. Piyush Tamboli, CMD-Investment & Precision Casting Ltd & Chairman-CII Gujarat # GujaratIndustrialPolicy2020 # AtmanirbharGujarat CMO Gujarat Invest India The government had extended the policy up to the release of a new policy or December 31, 2020, whichever is earlier. Gujarat state government has announced a new industrial policy. 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. policy lays down a foundation to develop Gujarat as a key pillar in 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. 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. All Rights Reserved, It is crucial to note that several of these incentives manufacturing' has been a responsibility borne by businesses, 2.5bn (~USD 33.33mn), Investment between INR 0.5bn (~USD 6.67mn) to INR 10bn (~USD Government of Gujarat are certainly a positive step towards 40,000 crores over five years. Vision & Mission Objectives Organization Structure Awards & Achievements. advancement of thrust sectors, technology adoption, support to host of multinationals looking to shift their manufacturing bases 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. For the purpose, Government of Gujarat announced New Industrial Policy 2020 on 7 th August 2020 to propel the state further towards to Atmanirbhar Gujarat and so as Atmanirbhar Bharat. It was further extended up to December 31, 2020 or the date of release of the new policy, whichever is earlier. levels. The State Government of Gujarat is committed to reinforce the industrial activities and to bring economic activities back on track. The New Gujarat Industrial Policy 2020 has been formed to further consolidate this momentum and enhance the current growth rate. Agro Industrial Policy Read More. It was further extended up to the date of release of new policy or 31st December 2020 whichever is earlier. The success of the last policy can be gauged from the fact that Gujarat stands first in terms of number of Industrial Entrepreneurship Memorandum (IEM) filed for 2019. of investment, and the nature of the business or enterprise. The new policy is in line with the Atma Nirbhar Bharat Abhiyan. Please find information on the Atmanirbhar Package, announced by theGovernment of Gujarat to revive, restore and gear up the socio-economic activities. within the state, which is divided into three territory categories 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. The new Gujarat Industrial Policy 2020 will give additional momentum and enhance the current growth rate. Post-independence, the insertion of definitive provisions for judicial review' in the Indian Constitution was necessary to facilitate assured individual and group rights. 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. benchmark for other states in the process of renewing their guide to the subject matter. 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