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    Inclusivity Officials
    Dec 29 th, 2017
    MSME State Policies-STATES AND LOCAL ASSISTANCE No Comments

    MSME Policy Of Karnataka

    Karnataka Government has added various policies for developing MSME Sector in Industries.

    FINANCIAL SECTOR

    1. Interest on subsidy
    2. Tech Upgradation, Quality Certification and Patent Registration (reimbursement/ subsidy)
    3. Investment promotion subsidy (at value of fixed assets)
    4. Exemption from Stamp Duty
    5. Concessional Registration Charges
    6. Refund of Land Conversion Fine
    7. Anchor unit Subsidy
    8. Reimbursement of partial net VAT as Interest Free Loan/ Grant
    9. Exemption from Tax on Electricity Tariff

    SUPPORTING INSTITUTIONS/ INITIATIVES:

    1. Technology Development Centre
    2. Land allocation (min 20%-30% of allot able land in KIADB industrial areas)
    3. preference for local brands in purchasing and preferential pricing of 15% for MSMEs
    4. Develop rural industrial areas for MSMEs (infrastructure; land allotments; subsidized land, power, water)
    5. Cluster Development (tech improvement, skill and quality, market access, access to capital, capacity building, common facility centres, etc.) <- funded
    6. Business incubators

    MARKETING / COMPANY LEGITIMACY

    1. Annual vendor development event at state and district levels (connect MSMEs + large manufacturers/Public sectors)
    2. Online system to track collaboration/vendor opportunities
    3. Award MSMEs for achieving excellence in production and profit, quality and environment improvement measures / recipients will get priority participation in national and international fairs
    4. Promote “Made in Karnataka” brand through market development
    5. Quality improvement (quality control + testing)
    Karnataka MSME

    RESEARCH/ INFO DISSEMINATION

    1. Will evolve a mechanism to reduce uncoordinated and irregular inspections
    2. Develop a cluster development plan (including viability gap funding for setting up business incubation centres)
    3. Nodal agency for promoting, implementing, and monitoring state and central govt. schemes

    SC/ST POLICIES

    1. Karnataka Maharashtra Exclusive Entrepreneurship Development Programs (interest free start up loans with flexible payback schemes; continuous guidance; Entrepreneurship Development courses)
    2. Reservations (priority for allotment of land in KIADB/KSSIDC Industrial area; in government funded incubation centres and skill development centres for first time SC/ST entrepreneurs)
    3. Incentives package that is over + above standard package
    4. Additional export and market development assistance (up to INR 2 lakhs)

    Comment