Investment Promotion Scheme (IPS) for Thrust Sectors: III. Scheme C4: For Food Processing Industries

DETAILS The scheme ““Scheme For Food Processing Industries” is a sub scheme under the “Investment Promotion Scheme (IPS)” for Thrust 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 Thrust Sectors such as Plastic Furniture, Steel Furniture, Brass Furniture, Metal Furniture, Cane Furniture, Wooden Furniture, Bamboo Furniture, Fibre Glass Furniture and Marble Furniture etc, therefore making the U.T. a Special Hub for the furniture sector: 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 "Scheme For Food Processing Industries" Sub-scheme: Under this Scheme, Credit linked interest subsidy will be provided for Establishment/ Expansion of Food processing industries. BENEFITS Credit Linked Interest Subsidy: 60% per annum limited to maximum of ₹50,00,000/- lakhs per annum for Five years OR for the period of repayment of loan whichever is earlier. Additional Subsidy: Additional 10% subsidy for Food processing units established in dedicated Industrial parks for Food processing Industries. 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 first disbursement of loan or on or before the date of commencement of commercial production. 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.