Incentives, subsidies and grants services
Manufacturing has emerged as one of the high growth sectors in India targeting global markets and are becoming formidable global competitors. To promote India as manufacturing hub, Central and State/Union Territories Governments provides various incentives, subsidies and grants to set up manufacturing facility in India. In addition, there are certain incentives for services and other sectors too.
The Government of India provides sector specific subsidies for promoting manufacturing. Further, Package Scheme of Incentives (PIS) is a policy made by every individual state to promote industrial development, employment, investments, inventions and growth. A PIS differs from state to state and is governed by the Directorate of Industrial Policy and Promotions. The development of every state very much depends upon their state policy and also their ease of doing business (EoDB) ranking. Generally, state policies are for the period of 5 years.
Every industrialists and manufacturers need guidance and support to understand central and state policy. Our team at Darda Advisors is highly business oriented in approach and has experience across sectors and the acumen to provide complete solutions for all incentives, subsidies and grants related matters. We provide the following key services:
- Evaluating various Central and State industrial policy and suggest optimal benefits availability
- Assist in consultation and negotiation of Memorandum of Understanding (MoU) with State Government
- Assistance in retrieval of supporting documents from Central/State authority
- Obtaining pre-approval as required under State Industrial Policies and Central Policies for specific sector
- Designing system and assistance for generation of necessary documentation for preparing refund/ disbursement claim
- Preparing refund/disbursement claim as per statutory requirement
- Filing and processing of refund/disbursement claim with Central/State Authority and follow up
- Making representation in case refund/disbursement claim rejected