Special incentive package scheme of Madhya Pradesh state is initiated by Department of Commerce, Industry and Employment along with Department of MSME (Govt. of Madhya Pradesh). Madhya Pradesh, a state in the heart of India is the 2nd largest state by area and one of the fastest growing states with annual GSDP growth at 8% CAGR over the last decade. Madhya Pradesh has a Strategic Location, Strong resource base, Robust support infrastructure, Large industrial land bank, and favourable policies which is helpful for establishment of any industrial undertaking.
The State has the presence of some of the largest industrial houses in the country, such as Hindustan Unilever, Coca Cola, Tata International, Godrej, Bridgestone, Aditya Birla Group, Reliance Group and Ranbaxy.
Thus, Government of Madhya Pradesh has announced this ambitious Industrial policy and incentive scheme
with the objective of creating a healthy climate for conducting business and thereby enhancing industrial development by providing special incentive package for promotion of entrepreneurship.
We at Interlink Capital Help in getting special incentive package scheme inIndore, Gwalior, Sagar, Bhopal, Jabalpur, Rewa, Ujjain and rest of Madhya Pradesh for promotion of entrepreneurship.
The scheme includes the following: -
This scheme will provide facilities for rehabilitation of BIFR referred large and medium scale industrial units.
50% of the expenditure incurred on technical services for obtaining certificate of (GMP) from Madhya Pradesh Food and Drug Administration would be reimbursed up to a maximum limit of Rs.1,00,000.
Min 60% of total allocated area in biotechnology park will be utilized for operations and remaining 40% for support services. 50% concession in land premium for employing 200 persons.
10% investment subsidy of eligible capital investment to a max limit of Rs. 1 Cr.
The package have two categories Rs. 20,000 Cr but less than Rs. 50,000 Cr (Category- I), and more than Rs. 50,000 Cr ( Category-II). A project in Category 1 and 2 will be provided exemption from entry tax for a period of 8 to 10 years.
| Type of Benefit | Fiscal |
|---|---|
| Benefit Details | Eligible start-ups shall be provided interest subsidy of 8% per annum for a period of 3 years on the rate of interest paid on loans obtained from scheduled banks/financial institutions subject to a maximum limit of Rs. 4 lakhs per year. |
| Eligibility Criteria | Entrepreneurs/start-ups running in the incubators need to be registered as company or under MSME Act, Govt of India before availing incentives. |
| Type of Benefit | Fiscal |
|---|---|
| Benefit Details | Reimbursement of 25% of lease rental subsidy to startup units established in the state operating from incubators shall be eligible for a period of 3 years subject to a ceiling of Rs. 3 lakhs per year from the date of rent payment to incubator. |
| Type of Benefit | Fiscal |
|---|---|
| Benefit Details | Cost reimbursement for patent/quality certification per unit up to a limit of Rs. 2 lakhs for domestic & Rs. 5 lakhs for international patent/quality certification upon successfully receiving them. |
| Type of Benefit | Fiscal |
|---|---|
| Benefit Details | One-time marketing assistance of maximum Rs. 10 Lakhs to eligible startups for their product/service launch in the market upon securing of minimum funding of 25% from a registered angel/venture fund/ registered incubator by the startup. |
Universities/education institutions, Incubation Centre/PSUs/R&D Institutions/Private and other establishments will be eligible as an institution to support and mentor to innovators as approved by Committee.
We at Interlink Capital believe in providing excellence to help our clients to achieve their business goals and provide them quality services in the various fields. We have a team of 100 experts who are expertise in their fields and can tackle any query quickly. Our Turn Around Time (TAT) is just 15days. Our clients include more than 500 export houses.