Gujarat's upcoming industrial policy will feature a new 'ultra mega' category for industries, requiring a minimum investment of Rs 10,000 crore and 3,000 jobs. The policy also expands designated 'thrust sectors' and offers substantial incentives.
The introduction of the 'ultra mega' category and the expansion of thrust sectors signal Gujarat's intent to attract massive investments and foster growth in key strategic industries, potentially creating significant employment opportunities and boosting the state's industrial output.
The Gujarat government is preparing to launch a new industrial policy within the next two weeks, which will include a new classification for enterprises called 'ultra mega' industries. This category is designed for large-scale industrial undertakings in designated 'thrust sectors' that involve a significant investment and job creation.
According to the draft policy, an 'ultra mega' industrial unit must have an investment of at least Rs 10,000 crore and provide employment to a minimum of 3,000 people. For every additional Rs 5,000 crore invested, an additional 500 jobs will be mandatory. This new classification aims to formally distinguish higher-tier investments beyond the current 'mega industries' category, which requires investments exceeding Rs 10,000 crore and offers customized incentives under the Atmanirbhar Gujarat scheme.
The proposed policy also significantly broadens the scope of priority sectors, increasing the number of designated 'thrust sectors' from the current nine to 16. These newly added sectors include semiconductor ancillary units, manufacturers of nuclear power equipment, vehicle scrapping facilities, e-waste recycling units, textile waste recycling industries, shipping container manufacturers, and heavy earth-moving equipment makers. Robot manufacturing and drone manufacturing have also been identified as thrust sectors.
Companies that qualify for and receive approval under the 'ultra mega' category are expected to benefit from substantial fiscal support, potentially receiving incentives up to 40% of their capital investment. These incentives can be flexibly chosen by the industries in the form of capital subsidy, interest subsidy, or power tariff adjustments.