60 Industrial Development Scheme Claims Sanctioned in [State Name], Bringing Investment and Employment Opportunities

60 Industrial Development Scheme Claims Sanctioned in [State Name], Bringing Investment and Employment Opportunities

The State Level Committee (SLC) of [State Name] recently approved 60 claims under the Industrial Development Scheme (IDS) of the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India. This move is expected to bring significant investment and employment opportunities to the state.

Key Highlights:

• Total Claims Sanctioned: 60
• Total Investment in Plant and Machinery: Rs. 721.78 crore
• Employment Generated: 2,118 people
• Total Subsidy Amount: Rs. 235.72 crore

Details of the Industrial Development Scheme:

The IDS offers various benefits to new and existing industrial units in the state, including:

• Central Capital Investment Incentive for access to credit (CCIIAC): Up to 30% of the investment in plant and machinery, with a maximum limit of Rs. 5 crore.
• Reimbursement of Insurance Premium: 100% reimbursement of insurance premium on building and plant and machinery for five years from the commencement of commercial production/operation.

Eligibility:

All eligible new industrial units and existing units undertaking substantial expansion anywhere in the state, and covered under Fire Policy “C” as per All India Fire Tariffs, are eligible for these benefits.

Looking Forward:

The sanctioned claims will be sent to the Government of India for the release of funds. This initiative is expected to boost industrial development in [State Name] by attracting new investments and creating employment opportunities for residents.

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