Gujarat government today announced the new Electronics Policy for comprehensive development of Electronics sector in the state which has set a target of 16 billion dollars annual turnover and to create five lakh employment opportunities.
In a statement released by the state government the, motives and targets of the electronics policy 2014-19 are to set up facilities for setting up Semiconductor Fabrication units, to develop Green field and Brown field Electronics Manufacturing Clusters,to encourageleading global electronics design companies to set up industrial units.
The policy has set the target in the state by year 2020. It has also envisaged to create 5 lakh employment opportunities by 2020 and to set up the Gujarat Electronics Mission for development of this sector.
The incentives announced in the policy effective for a period of five years are as follows -Special incentives for semiconductor, fabrication units, mega units, anchor unit.,up to per cent assistance with Rs 10 crore upper limit to greenfield electronics manufacturing cluster, 100 per cent relief on registration fee and stamp duty in first transaction, up to 90 per cent relief on investment for expansion of existing units and new units that are suitable for VAT incentive, 100 per cent relief in Central Service Tax (CST), 7 per cent interest subsidy for five years for micro, small and medium enterprises, and 2 per cent interest subsidy for large units.
Such subsidy will be given within the limit of Rs 25 lakh/year in case of micro, small and medium enterprises and Rs 50 lakh in case of large units. Power tariff subsidy of Re.1 per unit for five years for electronics manufacturing units, 100 per cent relief in electricity duty for suitable units for five years, Employment Provident Fund (EPF) relief in Rs 5 lakh/year limit with 100% for women employees and 75 per cent for others, Special benefits to training institutes and trainees in the area of Electronic System Design and Manufacturing(ESDM), Incentives matching with state government's Industrial policy for micro, small and medium enterprises units, for adaptation of new technology, patent, quality certification, research and development institutes and market development. UNI RAJ DAC KU PR0050 NNNN
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