Gandhinagar (Gujarat) [India], July 27 (ANI): The Gujarat government on Monday approved industrial projects involving investments of more than Rs 2,999 crore during a series of high-level committee meetings chaired by Deputy Chief Minister and Industries Minister Harsh Sanghavi.
The approvals were granted under various incentive schemes, with a focus on manufacturing, infrastructure development and employment generation in the state.
According to an official release, the Incentives to Industries Scheme under Industrial Policy-2015 was introduced to position Gujarat as "one of the world's most attractive investment destinations" and provides Net SGST reimbursement to eligible industries setting up operations in the state.
Officials said the policy has so far facilitated investments worth Rs 1,48,336.35 crore and generated 1,65,053 direct jobs across Gujarat. The investments have also helped boost ancillary MSMEs and build an industry-friendly ecosystem.
Under the Incentives to Industries Scheme, the committee approved 32 applications involving a cumulative investment of Rs 1,978.04 crore. These projects are expected to generate around 4,739 direct jobs.
Separately, the committee also approved one project involving an investment of Rs 649.23 crore, which is expected to create around 871 direct jobs, the release said.
In the textile sector, the seventh meeting of the State-Level Empowered Committee under the Scheme for Assistance to Strengthen Specific Segments in the Textile Value Chain-2019 approved assistance for three textile units. The three units together account for an investment of Rs 165 crore and are expected to generate around 500 direct jobs.
Under the scheme, eligible units will receive interest subsidy and power tariff assistance. The government said the three units will receive more than Rs 50 crore in assistance over the next five years.
Under the Gujarat Industrial Policy-2020, the state government also approved four projects under the Scheme for Assistance to Industrial Parks. These projects will involve a combined investment of more than Rs 371.70 crore for the development of industrial parks.
The official statement added that the schemes aim to position Gujarat as a leader in advanced manufacturing, technology and innovation by attracting large-scale investments and encouraging new industrial projects.
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This report was published from a syndicated wire feed. Apart from the headline, the EdexLive Desk has not edited the copy.
