About this business scheme
The "Aatmanirbhar Gujarat Scheme for assistance to Large Industries and Thrust Sector" aims to provide incentives to attract increased investments in the manufacturing sector to create more employment opportunities in Gujarat.
The "Aatmanirbhar Gujarat Scheme for assistance to Large Industries and Thrust Sector" is an umbrella scheme launched by the Industries and Mines Department, Gujarat. It aims to empower the state's dynamic large-industry sector, which significantly contributes to employment, GDP, and exports. Effective from October 5, 2022, to October 4, 2027, this initiative supports growth, investments, and the vision of "Aatmanirbhar Gujarat" and "Aatmanirbhar Bharat."
The component "Assistance of Interest Subsidy" provides financial support to large industrial undertakings by reimbursing a portion of the interest paid on term loans. This subsidy encourages industrial growth, expansion, and diversification by reducing borrowing costs for eligible projects.
Benefits at a glance
| Scheme name | Aatmanirbhar Gujarat Scheme for assistance to Large Industries and Thrust Sector: Assistance of Interest Subsidy (AGSLITSIS) |
|---|---|
| Launched by | Industries and Mines Department |
| Launch year | 2022 |
| Benefit type | Cash (money paid to your bank account) |
| Category | Business |
| Level / State | State · Gujarat |
| Official portal | ifp.gujarat.gov.in (link at the end of this page) |
Key facts
| Scheme for | Infra |
|---|---|
| Application mode | Online |
| Last date | Ongoing (no last date notified) |
| DBT (direct bank transfer) | No |
| Age | 18 to 60 years |
Who can apply (quick check)
- 👤All genders
- 🎂Age 18 to 60 years
- 📝Online
Quick check from official data. Full conditions are in the Eligibility section.
What you receive
| Category of Taluka | General | Thrust |
| Category 1 | Interest subsidy @ 7% on Term Loan for 10 years upto 1% of eFCI p.a. | Interest subsidy @ 7% on Term Loan for 10 years upto 1.2% of eFCI p.a. |
| Category 2 | Interest subsidy @ 7% on Term Loan for 8 years upto 1% of eFCI p.a. | Interest subsidy @ 7% on Term Loan for 10 years upto 1% of eFCI p.a. |
| Category 3 | Interest subsidy @ 7% on Term Loan for 6 years upto 1% of eFCI p.a. | Interest subsidy @ 7% on Term Loan for 8 years upto 1% of eFCI p.a. |
Who qualifies
- A new large industrial undertaking, or an existing one that undertakes expansion and/or diversification, is eligible for this scheme.
- The large industrial undertaking must have obtained acknowledgment/registration, as the case may be from DPIIT.
- The industry should commence commercial production during the scheme's operative period.
Who is not eligible
- A large industrial undertaking that has received any incentive for the same Gross Fixed Capital Investment (eFCI) under any state government scheme or its agency will not be eligible unless specifically stated.
Papers to keep ready
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Registration walkthrough
Online
Registration Process:
Step-1: Visit the Investor Facilitation Portal (IFP) portal. Click on "New Investor Registration" to access the registration form.
Step-2: Fill in the Registration Form. Click on "Submit".
Step-3: Verify the E-mail ID using the link sent on your registered E-mail ID.
Step-4: After verification, you will be registered successfully.
Post-Registration Process:
Step-1: Visit the Investor Facilitation Portal (IFP) portal. Click on "Login".
Step-2: Enter the email address and password you used during registration.
Step-3: Click the "Login" button to access your account.
Step-4: Now fill in the required details and mandatory documents about your business to complete the application process.
Helpdesk: Contact Here
Important dates
| Launch / start | 05 Oct 2022 |
|---|
Terms used in this scheme
- Large Industrial undertaking
A large industrial undertaking means an industrial undertaking in which the fixed capital investment made in Plant and Machinery is higher than INR 50 crores, and for which an Industrial Entrepreneurs Memorandum has been filed or any other license or permission as prescribed by the Government of India, has been obtained.
The large industrial undertaking must have obtained acknowledgment/ registration, as the case may be from DPIIT.
- Thrust Sector
Thrust sector means the sector which is most potential sector and needs additional support to make them viable for global competitiveness.
- Gross Fixed Capital Investment (GFCI)
Gross Fixed Capital Investment means the investment made in iand, building, plant and machinery, utilities, tools and equipment, and other fixed assets required to manufacture the end product. Assets acquired and paid for during eligible investment period of the project under this scheme shall be considered for determining the gross fixed capital investment.
- Eligible Fixed Capital Investment (EFCI)
Eligible Fixed Capital Investment means following investment made on or after the date of issue of this GR and up to the last date of the eligible investment period as per para-3 of this G.R. Provided that, large industrial undertakings opting /applying under this scheme as per clause 16.2 or clause 16.4 of this scheme, the investment made during the operative period ofthe previous scheme till the date of issue of this GR shall also be considered for calculating eligible FCI.
- Date Of Commercial Production (DaCP)
In case of new industrial unit, the DoCP shall be the date of first sale bill of the product(s) for which the project has been set up. In case of expansion and/or diversification projects, the DoCP shall be the date of first sale bill of the product(s) being manufactured by the expansion and/or diversification project.
Frequently asked questions
What is the "Aatmanirbhar Gujarat Scheme for assistance to Large Industries and Thrust Sector"?
The “Aatmanirbhar Gujarat Scheme for assistance to Large Industries and Thrust Sector” is a state initiative designed to support and strengthen the Large Industry and Thrust sector in Gujarat. It aims to enhance growth, encourage investments, and contribute to the vision of self-reliant Gujarat and India.
When is the scheme operative?
The scheme is operative from October 5, 2022, to October 4, 2027, covering a period of 5 years.
What are the objectives of the scheme?
The scheme aims to boost Large Industry growth, enhance the industrial ecosystem, encourage investments, and contribute to Gujarat’s and India’s self-reliance vision.
Who is eligible to benefit from the scheme?
Large Industries established and operating within Gujarat are eligible to benefit from the scheme, as per the criteria defined in the policy framework.
What is the "Assistance of Interest Subsidy" component?
The "Assistance of Interest Subsidy" component is a financial support initiative designed to reimburse a portion of the interest paid on term loans by large industrial undertakings to encourage industrial growth, expansion, and diversification.
Who is eligible to apply for this subsidy?
Large industrial undertakings, including new projects, expansion projects, and diversification projects, are eligible to apply for this subsidy if they meet the specified criteria.
What is the percentage of interest subsidy offered under this scheme?
The scheme offers an interest subsidy of 7% on term loans for eligible projects.
What is the maximum duration for which the subsidy is provided?
The subsidy is provided for a maximum duration of 10 years, depending on the category of the project.
What is the minimum interest the applicant must bear under this scheme?
The applicant must bear a minimum of 2% of the interest levied on the term loan, even if additional subsidies are availed from the Government of India.
Can an undertaking apply for this subsidy while availing subsidies from the Government of India?
Yes, an undertaking can apply for this subsidy alongside subsidies from the Government of India, but the total benefit will ensure that at least 2% of the interest is borne by the applicant.
What happens if an industrial undertaking defaults on loan payments?
If an undertaking defaults on loan payments, it will not be eligible to receive the interest subsidy for the default period, as determined by RBI guidelines.
Are penalties or additional charges covered under this subsidy?
No, penalties or additional charges levied by the financial institution are not covered under this subsidy.
Can an applicant include loans taken from multiple financial institutions?
Yes, loans from multiple financial institutions can be included, but the date of the first disbursement of the loan will be considered as the earliest disbursement date.
How is the interest subsidy disbursed to the eligible applicants?
The interest subsidy is reimbursed periodically after verification of compliance with the scheme’s guidelines and repayment terms.
What are the options for choosing the eligibility start date for the subsidy?
Applicants can choose the eligibility start date as either the date of the first loan disbursement or the date of commencement of commercial production.
Are all types of loans eligible for this scheme?
No, only term loans used for Eligible Fixed Capital Investment (eFCI) are eligible under this scheme.
Submit your application yourself on the official portal; it costs nothing. Treat anyone demanding money to "get you approved" as a scam.
- Guidelines 1 ic.gujarat.gov.in (PDF)
- Document Checklist ic.gujarat.gov.in (PDF)
- Online Application Portal ifp.gujarat.gov.in
- List Of Taluka Categories imd.gujarat.gov.in (PDF)
tsmpb.in is not affiliated with any government department. Apply only on the official portal and never pay anyone for an application.
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