Investment Promotion Scheme (IPS) for MSME Sector: Reimbursement Of Free On Board (FOB) Expenses

DETAILS The scheme “Reimbursement Of Free On Board (FOB) Expenses” is a sub scheme under the “Investment Promotion Scheme (IPS)” for MSME Sector. It was launched on 3rd July, 2015 for a period of five years by the Dept. of Industries, U.T. Administration Of Dadra & Nagar Haveli And Daman & Diu. Now it has been extended further from 20th May, 2022 and shall be operative till 19th May, 2027. Objective of the "Investment Promotion Scheme (IPS)”: The scheme envisages to provide incentives and assistance to the MSME Sector in order to nurture them and protect them from market vagaries thereby making them vibrant and successful, maximize Women participation in the business sector, reduce unemployment among the local residents and incentivize the industries to employ resident laborers etc. Objective of the "Reimbursement Of Free On Board (FOB) Expenses" Sub-scheme: Under this scheme, financial assistance would be provided in the form of reimbursement of Free On Board(FOB) value on Export of Food/ Marine processed products. BENEFITS 20% reimbursement of Free On Board(FOB) value limited to ₹20,00,000/- per beneficiary per year for 3 years. ELIGIBILITY Should be a New Manufacturing/ Service units or Existing Manufacturing/ Service units which undertakes Expansion/ Diversification in MSME sector. The unit should have commenced the commercial production between 20.05.2022 to 19.05.2027. Unit should be located in the U.T. of Dadra and Nagar Haveli & Daman and Diu. Enterprise shall have to apply within six months from 31st March of the previous financial year.