INDIAN STATE : MEGHALAYA

Investment incentives

Investment Incentives under the industrial policy

• Capital Investment Subsidy: 30 percent capital investment subsidy subject to a ceiling of US$ 43,360.73 per project.
• Interest subsidy: interest subsidy at the rate of 4 percent on interest payment to bank and financial institution subject to a ceiling of Rs. 0.20 lakh per month.
• Local Employment Promotion grant will be provided subject to a ceiling of US$ 2170.02 per annum for 3 years at the following rates:
  • 30 percent of the wage bill for local tribal employee.
    
  • 10 percent on the cost incurred on training of local tribal employee.
• Subsidy on Power on the fulfillment of certain prerequisites.
• Project Report Subsidy: Project report subsidy at the rate of 90 percent of the cost of the project report will be provided subject to a ceiling of Rs. 2 lakh per report.
• Sales Tax Exemption: CST paid on purchase of machinery and equipment would be reimbursed subject to a limit of US$1,625.66
• Stamp Duty Exemption: an additional 5 percent capital investment subsidy subject to a maximum of US$ 10852.54 will be provided.
• Special Incentives for Export Oriented Units.

Investment Incentives under the tourism policy (2001)

• Investment subsidy
  
• Maintenance and up- keep subsidy
  
• Publicity subsidy
  
• Sales tax exemption
  
• Subsidy on power generating set
  
• Subsidy on telephone connection
  
• Exemption from stamp duty
  
• Subsidy on the cost of feasibility studies and project reports
  
• Interest subsidy
  
• Exemption on luxury tax
  
• Support for paying guest accommodation

Indutrial Estates and Areas

To obviate the problems of prospective entrepreneurs in acquiring and developing sites for industrial purposes, some industrial Estates and Areas have been created and more are likely to come up in the near future.

Existing industrial estates and areas:

Source: Meghalaya Industrial Dev. Corp. (MIDC)

These Estates and Areas provide well laid out land plots of different sizes with basic infrastructure like factory sheds, all season roads, sewerage and drainage, electricity, water, telecommunication, weigh bridge etc. Additionally, the Industrial Areas provide residential buildings on lease/ rent for employees of interested industrial units.

Export Promotion Industrial Park

An EPIP is being set up at Byrnihat over an area of 259 acres. This scheme, under the Government of India, is aimed at encouraging export efforts by

• Building up of infrastructure facilities of high standards to be used by Export Oriented Units (EOUs)
• Sustaining the interest of the State Government and local population in building and maintaining such facilities.

The following vital facilities will be made available at the proposed EPIP:

• RCC Buildings and Factory Sheds
  
• All Weather Roads
  
• Power Supply
  
• Water Supply
  
• Common facilities such as, administrative offices, utility stores, parking facilities, canteen, health centre, post office, banks, training centres, conference rooms etc.