Gujarat government on 21st Dec 2016 announced the Aerospace and Defence Policy 2016.
This policy was announced with the
aim to
attract investment into fields of aerospace and defence design, development and manufacturing in the state.
Policy announced ahead of the Vibrant Gujarat Summit is offering incentives to investors.
100% reimbursement will be provided on stamp duty and registration charges that are paid for purchase, lease or mortgage of land that is meant for setting up or developing the facility in the areas of aerospace and defence.
Where the manufacturing facility will be established in government lands, the investors will be allotted the land at 50 percent of prevailing market rate decided by the government.
To conduct tests and trials of the equipment that is manufactured in the state, the government will provide all the required assistance for developing the infrastructure on PPP model.
MSME units will be given with a cash subsidy of 25 percent on capital investment for setting up their facility in the Aerospace and Defence sector.
For a period of 5 years, all mega and A&D projects will be entitled to 2 percent interest subsidy on external borrowings.
From the viewpoint of tax, the policy holds that all units would be given reimbursement up to 100 per cent of the Central Sales Tax or net Value Added Tax.
For a period of 5 years, all A&D units would be provided 100% exemption on electricity duty.
This exemption will be provided from the date of commencement of production.
Apart from this, the entrepreneurs will be provided with a subsidy of 50 percent of the construction cost of the R&D centre.
The facility will be provided to encourage research and development activities in the state.
Vibrant Gujarat Summit- Biennial investors summit in Gujarat.
- Event brings together opinion markers, policy deciders, though leaders, business leaders, investors and corporations.
- Started in 2009.
- Enters 8th edition in 2017
- Vibrant Gujarat 2017 is scheduled to be held from 10-13 January 2017.
