Gujarat has promised investors uninterrupted power supply if they set up business there.
Addressing a road show of Vibrant Gujarat 2015 to be held in January at Gandhinagar, Saurabhbhai Patel, Gujarat Minister for Finance, Energy and Petrochemicals, said here on Thursday that “when it comes to power we are way ahead of other States in the country. We will never have deficit.”
Gujarat was a power deficient State a decade ago, but now it had surplus power and vibrant energy sector. The State required 13,000 MW of power, but had an installed capacity of 22,000 MW. “This Vibrant Gujarat show alone will be consuming 10 MW of power,” said P. Swaroop, managing director of Industrial Extension Bureau (iNDEXTb), the nodal agency for the event.
The Minister also said that a slew of policies would be announced before the event. “We want to give more thrust to the service sector, especially IT/ITeS.”
“As per the electronics policy announced on Wednesday, the government will offer 100 per cent subsidy on Central Sales Tax and VAT refund equal to 90 per cent of capital investment made for expansion of existing manufacturing units,” Mr. Saurabhbhai said.
Vibrant Gujarat, pet project of Prime Minister Narendra Modi, started with an investment commitment of $14 billion in 2003. The 2011 summit alone witnessed investment intentions worth $450 billion. “Almost 60-70 per cent of the proposed investments have translated into reality,” said Mr. Atanu Chakraborty, Principal Secretary, Industries and Mines Department, Gujarat.
