Gujarat Government announces IT policy to promote IT-based start-ups
The Gujarat government has announced its first ever IT and Electronics Start-up Policy with a special focus on encouraging startups by providing a slew of incentives and subsidies.
⇒ The state government would develop 50 incubators to mentor and guide 2,000 start-ups in the next five years.
⇒ The Gujarat government will allot around 10 lakh sq feet of land for development of 50 incubators, which will provide guidance to budding innovators in setting up their start-up units.
⇒ Under the policy, the Gujarat government will provide 50 per cent capital investment assistance, in the limit of Rs 50 lakh, for setting up an incubator.
⇒ Incubators will be entitled to get Rs 5 lakh each year as mentoring assistance and the state government will also give Rs 1 crore as assistance for the procurement of software to these incubators.
⇒ Under the policy, these incubators and new start-ups will get 100 per cent reimbursement of stamp duty and registration fees.
⇒ To register their patents, government will give Rs 2 lakh as assistance for domestic registration and Rs 5 lakh for international patent registration.
⇒ Start-ups will be provided other incentives such as interest subsidy of 9% per annum in the limit of 2 lakh rupees per year, marketing assistance of 1 lakh rupees per start-up, product development assistance of 1 lakh rupees and lease rental subsidy of 15 rupees per square feet per month.
Industrial Development in Gujarat
Average annual gross state domestic product (GSDP) growth rate of Gujarat from 2004-05 to 2014-15 was 12.11 per cent. It has achieved the distinction of being one of the most industrially developed states and contributes about a quarter to India’s goods exports.
Gujarat is a leader in industrial sectors such as chemicals, petrochemicals, dairy, drugs and pharmaceuticals, cement and ceramics, gems and jewellery, textiles and engineering.
As of March 2015, Gujarat ranked second in the production of crude oil (onshore) in India. It accounts for around 72 per cent of the world’s share of processed diamonds and more than 80 per cent of diamonds processed in India.
The industrial sector comprises over 800 large industries and more than 453,339 micro, small and medium industries.There are 13 major industry groups in Gujarat that accounts for around 82.05 per cent of total factories, 95.85 per cent of total fixed capital investment, 90.09 per cent of the value of output and 93.21 per cent of value addition in Gujarat's industrial economy.
In budget 2015-16, state government has announced to invest USD 5.30 million For the development of industrial park, logistic park and a park for defence manufacturing units and USD 458.97 million for the growth of industrial sector of Gujarat.
Gujarat has well developed Industrial infrastructure. It has one major port and 44 non-major ports, Gujarat has the highest number of operational and commercial cargo ports in India.
The state government has approved interest subsidy at the rate of 6 per cent for three years for building godowns on the farms to boost storage capacity in the state. It has also allocated USD 1.49 billion for Narmada Yojana.
|1.||Maharashtra||Rs. 16.8 lakh crore|
|2.||Tamil Nadu||Rs. 9.76 lakh crore|
|3.||Uttar Pradesh||Rs. 9.76 lakh crore|
|4.||Gujarat||Rs. 7.66 lakh crore|
|5.||West Bengal||Rs. 8.00 lakh crore|
|6.||Karnataka||Rs. 7.02 lakh crore|
|7.||Rajasthan||Rs. 5.7 lakh crore|
|8.||Andhra Pradesh||Rs. 5.20 lakh crore|
|9.||Madhya Pradesh||Rs. 5.08 lakh crore|
|10.||Delhi||Rs. 4.51 lakh crore|
|11.||Kerala||Rs. 3.96 lakh crore|
|12.||Telangana||Rs. 3.90 lakh crore|
|13.||Haryana||Rs. 3.89 lakh crore|
|14.||Bihar||Rs. 3.43 lakh crore|
|15.||Punjab||Rs. 3.17 lakh crore|
|16.||Odisha||Rs. 2.72 lakh crore|
|17.||Chhattisgarh||Rs. 1.85 lakh crore|
|18.||Jharkhand||Rs. 1.73 lakh crore|
|19.||Assam||Rs. 1.59 lakh crore|
|20.||Uttarakhand||Rs. 1.23 lakh crore|
|21.||Jammu & Kashmir||Rs. 0.87 lakh crore|
|22.||Himachal Pradesh||Rs. 0.83 lakh crore|
|23.||Goa||Rs. 0.49 lakh crore|
|24.||Chandigarh||Rs. 0.29 lakh crore|
|25.||Tripura||Rs. 0.27 lakh crore|
|26.||Meghalaya||Rs. 0.22 lakh crore|
|27.||Puducherry||Rs. 0.21 lakh crore|
|28.||Nagaland||Rs. 0.18 lakh crore|
|29.||Manipur||Rs. 0.14 lakh crore|
|30.||Arunachal Pradesh||Rs. 0.14 lakh crore|
|31.||Sikkim||Rs. 0.12 lakh crore|
|32.||Mizoram||Rs. 0.1 lakh crore|
|33.||Andaman & Nicobar Islands||Rs. 0.062 lakh crore|
|34.||Dadra and Nagar Haveli||Rs. 0.0244 lakh crore|
|35.||Daman and Diu||Rs. 0.01059 lakh crore|
|36.||Lakshadweep||Rs. 0.00407 lakh crore|