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MSME Department to provide financial assistance for industrial development

Bhopal. Forty percent of investment in plant and machinery will be given to Micro, Small and Medium manufacturing Enterprises in the form of industry development grant in 5 equal annual installments. The MSME Department has provided this facility to all units except 22 marked ineligible units.

Giving information in this regard, Principal Secretary, MSME, VL Kantaroa said that according to the provision made in the MSME Development Policy 2017, if the investor purchases private land to set up a medium-class manufacturing enterprise, such units will be provided 50 percent of expenditure on infrastructure for water, road and electricity upto maximum Rs 25 lakh.

 Twenty percent of the amount, maximum Rs 2 crore, spent in the establishment / development of private industrial area / multi-storey industrial complex will be provided to private sector. Industrial area should be on minimum 5 acres land. The carpet area should be at least 10 thousand square feet in the case of multi-storey industrial complex case. It is compulsory that the multi-storey industrial complex should have 5 units.

 Fifty percent capital grant, maximum Rs 25 lakh will be availed to industrial units for investment in establishing waste management systems (ETP, STP).