The Gujarat government on Saturday launched a new Electronics Policy to generate 10 lakh new employment opportunities in the Electronics System Design & Manufacturing (ESDM) sector in the state.
The ‘Gujarat Electronics Policy 2022-2028’ has been designed to make Gujarat a national hub of ESDM by offering a host of subsidies and incentives to the investors, said an official release.
Those wanting to invest in the ESDM sector in Gujarat will be given up to 20 per cent capital expenditure (capex) assistance with a ceiling of Rs 200 crore under the policy, the release said, adding that eligible investors will be entitled to get 100 per cent reimbursement on stamp duty and registration fee paid to the government.
While eligible entrepreneurs are exempted from paying any electricity duty, the state government will provide a power tariff subsidy of Rs 1 per unit for a period of five years.
Other incentives include interest assistance of up to 7 per cent on a term loan for a period of five years and logistics subsidy of up to 25 per cent on the freight charges for five years, up to Rs 5 crore per annum, as per the release.
As per the policy document, the state government will develop Gujarat Electronics Manufacturing (GEM) clusters for the ESDM ecosystem in the next five years. These GEM clusters will have common R&D facilities, testing labs and common infrastructure facilities. PTI