New Industrial Policy 2020 of Gujarat:

Gujarat Government announced the New Industrial Policy 2020 for the State.

The new policy is in line with the Atma Nirbhar Bharat Abhiyan.
It aims to provide an estimated Rs 40,000 crore as subsidies to industries in the next 5 years.

Major provisions of the New Industrial Policy 2020

 15 Thrust areas are divided into core sectors and sunrise sectors
Core sectors– Electrical machinery & equipment, Industrial Machinery & equipment,
Auto & Auto Components, Ceramics, Technical Textiles, Agro & Food Processing,
Pharmaceuticals & Medical devices, Gems & Jewellery and Chemicals.

Sunrise Sectors– Industry 4.0 manufacturing, Electric Vehicle and its components,
Waste management projects, Green Energy including Solar & Wind Equipment and
Eco-friendly compostable material for substitutes to traditional plastics.

 Lease out government land to industrialist on long term lease up to 50 years at 6% of

the market rate.
 It will Provide incentives to private industrial parks and also provide ‘relocation
incentives’ to the units who look to relocate in wake of Covid-19 pandemic,
particularly from China.
 Support to Small and Medium Scale Industries up to 65% of total cost to acquire
foreign technology.
 It increases the seed support from Rs 20 lakh to Rs 30 lakh for start-ups.
 Subsidy of up to 7% up to Rs 35 lakh per annum for seven years to service sector
MSMEs in the areas of financial services, healthcare, audio-visual, and environmental
services, among others.
 Incentives to private developers & Tribal Talukas.