The scheme “Assistance Of Interest Subsidy For Textile Sector” 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.
60% subsidy, up to ₹60 L
INTEREST · quoted from the scheme, not calculated by us
DETAILS The scheme “Assistance Of Interest Subsidy For Textile Sector” 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 further fillip to the specialized Textile sector such as Technical textiles, Fabrics, Carpets, Garments, Apparels and Industries Manufacturing Textile Machinery, Medical Fabrics, therefore making the U.T. a Special Hub for Technical Textiles, 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 "Assistance Of Interest Subsidy For Textile Sector" Sub-scheme: Under this Scheme, credit linked interest subsidy will be provided for Textiles, Technical Textiles, Fabrics, Carpets, Garments, Apparels and Industries manufacturing Textile Machinery, Medical Fabrics and Textiles. BENEFITS 60% subsidy of interest charged by Bank with an upper ceiling of ₹60,00,000/- per annum for a period of 5 years OR, for the period of repayment of loan whichever is earlier. Additional 10% subsidy will be provided to Export oriented Carpet industry upto a maximum ₹70,00,000/- per annum. 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 at online portal within one year from the date of eligibility. Exclusions The Enterprise will not be eligible for Interest Subsidy under this Scheme if, term loan is sanctioned after one year from the date of commencement of commercial production.
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We don’t hold the step-by-step process for Investment Promotion Scheme (IPS) for Textile Sector: Assistance Of Interest Subsidy For Textile Sectoryet. The department’s own notification is the authority until we do — we would rather say that than invent a plausible sequence.
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