Gujarat CM unveils new Biotechnology Policy 2022-27

Sarkaritel
By Sarkaritel February 18, 2022 07:01

Gujarat CM unveils new Biotechnology Policy 2022-27


With a commitment to promote rapid and inclusive growth in the field of biotechnology in Gujarat, Chief Minister Bhupendra Patel on Thursday unveiled the new Gujarat Biotechnology Policy 2022-27 at the Science City in Ahmedabad.

Gandhinagar, Feb 18 (IANS) With a commitment to promote rapid and inclusive growth in the field of biotechnology in Gujarat, Chief Minister Bhupendra Patel on Thursday unveiled the new Gujarat Biotechnology Policy 2022-27 at the Science City in Ahmedabad.

As per the new policy, a maximum assistance of Rs 40 crore and mega/large projects with a capital investment of more than Rs 200 crore, as well as special projects of MSMEs like ecosystem empowerment, emerging technologies in challenging areas and of strategic importance, will be given assistance of up to 25 per cent of the total capital expenditure up to a maximum of Rs 200 crore.

This assistance will be provided in the form of 20 quarterly instalments over a period of five years.

MSMEs having a capital investment of less than Rs 200 crore will be given assistance of a maximum of Rs 5 crore per annum. Mega/large projects with a capital investment of more than Rs 200 crore and special projects like ecosystem empowerment etc. will be given an assistance of up to 15 per cent of the total operating cost up to a maximum of Rs 25 crore per annum.

This assistance will include expenses for power tariff, patent assistance, marketing development assistance, lease rental subsidy, bandwidth leasing and quality certification.

Male and female employees serving for more than one year with an MSME will be given assistance of Rs 50,000 and Rs 60,000, respectively.

Up to 100 per cent and 75 per cent reimbursement will be provided to each female and male employee on the Employees’ Provident Fund paid by the applicant company, respectively.

Quarterly return at the rate of 7 per cent against interest paid on term loans of up to Rs 100 crore, with an annual ceiling of Rs 7 crore, will be provided.

Besides, quarterly return at the rate of 3 per cent against interest paid on term loans of above Rs 100 crore with an annual ceiling of Rs 20 crore will also be given.

Reimbursement of 100 per cent for five years on the electricity duty paid will be provided under the new policy.

Industries manufacturing the products which are not being manufactured in the country will be covered under strategically important projects. The provision has been made to give additional assistance to these industries through special packages of ecosystem empowerment and mega/large projects.

The projects approved under the special package will provide comprehensive facilities for land allotment and other basic infrastructure related needs like approach road, water supply, electricity, sewerage, etc. through inter-departmental coordination of state government and single point of contact.

Chief Minister Patel emphasised that he is committed to realise the vision of ‘Aatmanirbhar Gujarat’ to ‘Aatmanirbhar Bharat’ through a biotechnology driven economy and with the new Biotechnology Policy.

“Being a policy driven and business-friendly state, Gujarat has remained at the industry forefront in the country. New forms of entrepreneurship have emerged with the adoption of science and technology in the state,” said Patel.

“Biotechnology has made significant contributions in solving new-age problems, especially in the field of health and agriculture. The science-driven industry has been instrumental in understanding and fighting the global Covid-19 pandemic. It was due to biotechnology that we got effective rapid antigen tests, RT-PCR tests, vaccines etc.,” he added.

The Gujarat CM emphasised that the objective of this new policy is to make Gujarat competitive in the biotechnology market and maximise the benefits.

Sarkaritel
By Sarkaritel February 18, 2022 07:01