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Copyright 2017 @NICCT | WTC Business Center | Prinses Margrietplantsoen 33 | 2595 AM The Hague | (+31) (0) 88 99 09 100. These amendments have, inter alia, resulted in a power shift from the RBI to the Central Government, enhancing the latter's involvement in the foreign exchange transactions. of investment, and the nature of the business or enterprise. On August 7, 2020 Gujarat Government announced the New Industrial Policy 2020 for the State, with an expected average annual outlay of up to Rs 8,000 crore, which is meant to provide incentives to the industries. New Industrial Policy 2015 Read More. Up Next. advancement and can contribute to sustainable economic development, The new policy is in line with the Atma Nirbhar Bharat Abhiyan. Accordingly, it replaces the previous industrial policy and is valid for a period of five years from August 7, 2020. The New Policy was released on August 30, 2020. a thrust to the 'up and coming' sectors of India's Micro, Small and Medium Enterprises (MSMEs), and balanced employment generation, new generation manufacturing, the Industrial policy and business regulation. © Mondaq® Ltd 1994 - 2020. The earlier industrial policy of the state was published in 2015 that came to an end in December 2019. advancement of thrust sectors, technology adoption, support to With its 2020-25 Industrial Policy, the government of Gujarat has initiated progressive policies that will aid the development of its core sectors; reform-oriented policies will make it a more friendly environment for foreigners. The government had extended it up to the release of a new policy or December 31, 2020, whichever is earlier. The new policy provides a broad range of incentives to promote competitiveness are briefly tabulated below: With the decline in the manufacturing sector following the COVID important to ensure sustainable growth and balanced development We need this to enable us to match you with other users from the same organisation, it is also part of the information that we share to our content providers ("Contributors") who contribute Content for free for your use. As summarized by the Chief Minister of Gujarat, the POPULAR ARTICLES ON: Government, Public Sector from India. business and investment reforms position Gujarat as a leader in To boost the industry in the state and attract investment amid the major slowdown due to the Covid-19 outbreak, the Gujarat government plans to announce a new industrial policy for 2020-2025 in June, to attract fresh investment and generate jobs. Further, the Policy also incentivizes industries promoting sustainable growth. industrial policies, such as Telangana and Tamil Nadu. The State Government of Gujarat is committed to reinforce the industrial activities and to bring economic activities back on track. The Gujarat government, on Friday, announced the new Industrial Policy 2020 for the State, with an expected average annual outlay of up to ₹8,000 crore. The new policy has been declared on expiry of outgoing policy on 31st December 2019. strengthening India's position as a manufacturing hub. Important Links. outbreak, the revamped incentives and subsidy offerings by the The policy has concerted efforts for supporting jobs, value addition, adoption of … about your specific circumstances. The new industrial policy has been framed to consolidate the momentum and enhance the current growth rate. 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