Jharkhand has released draft versions of its Industrial Investment Promotion Policy and Textile, Apparel and Footwear Policy, targeting Rs 1 lakh crore in investment and more than 25,000 jobs, with final versions expected within a fortnight.
For founders and small manufacturers, the draft stage is more useful than the final stage. A draft shows what the government is willing to offer before negotiation and feedback trim it, and it is the only moment when comments can still change the outcome.
The numbers in this draft are specific enough to plan around: 20 percent of fixed capital investment for MSMEs up to Rs 15 crore, 25 percent for larger units up to Rs 30 crore, and an extra 5 percent for SC, ST, women and differently-abled entrepreneurs.
The textile draft goes further, with a 20 percent subsidy capped at Rs 50 crore, SGST reimbursement for up to ten years in total, and wage support of Rs 5,000 to Rs 6,000 per worker per month.
The practical advice is to model your project against the draft now, note which clauses decide your economics, and submit feedback on those clauses through the Single Window Portal before the fortnight ends.
The textile draft proposes a 20 percent subsidy on fixed capital investment, with a cap of Rs 50 crore.
The textile draft also offers 100 percent reimbursement of net SGST for seven years, followed by 40 percent for the next three years.
Wage support of Rs 5,000 per month for male workers and Rs 6,000 per month for female workers is proposed for textile units.
Training assistance of up to Rs 13,000 per trainee is part of the proposed incentive package.
The drafts also propose electricity tariff and duty reimbursements, along with reimbursement of stamp duty and registration charges.
The state expects the combined policy push to generate more than 25,000 employment opportunities across manufacturing and textiles.
Steel plant, Jamshedpur, Jharkhand (representative image), Wikimedia Commons, CC BY 4.0