Investment Promotion Scheme (IPS) For Cottage Industries: Financial Assistance To Cottage Industries

The scheme Financial Assistance To Cottage Industries is a sub scheme under the Investment Promotion Scheme (IPS) for Cottage Industries. It was launched on 3rd July, 2015 for a period of five years by the Dept. of Industries, U.T. Administration Of Dadra & Nagar Haveli And Daman & Diu. Now it has been extended further from 20th May, 2022 and shall be operative till 19th May, Objective of the Investment Promotion Scheme (IPS):

The scheme envisages to provide incentives and assistance to the MSME Sector in order to nurture them and protect them from market vagaries thereby making them vibrant and successful. therefore making the U.T. a Special Hub for the MSME sector; maximize Women participation in the business sector, reduce unemployment among the local residents and incentivize the industries to employ resident laborers etc.

Objective of the Financial Assistance To Cottage Industries Sub-scheme:

Under this scheme, financial assistance shall be provided to Cottage Industries on the term loan taken through Nationalized Banks, Cooperative banks, Public sector Banks or Private Banks.

Benefits

1. Rate of Capital Subsidy: 25% of the term loan amount for setting up of the Cottage Industry up to a maximum of ?5,00,000/-.

1. Rate of Interest Subsidy: 50% of the Interest charged by Bank or NBFC or Cooperative Bank shall be reimbursed up to a period of 5 years from the date of commencement of Production.

Note:

1. 10% additional capital subsidy shall be provided to Scheduled Castes/ Scheduled Tribes / Women/ Differently abled having 30% or more disability.
2. Maximum limit of the Bank Loan should be ?20,00,000/-.

Eligibility

1. The applicant should be associated with Cottage Industry.
2. The applicant should be above 18 years of age.
3. The applicant should have passed minimum standard Four (IV).
4. The applicant should have undergone training for minimum one month from Government of India recognized Institutes, in the area of the proposed business.

Or,

The applicant should have experience of minimum 1 year in the same activity

Or

The applicant should be hereditary craftsperson.

Application Process

Online

Registration Process:

1. Visit the Registration page of the Official Website.

2. Provide the information in the respective input spaces and click on Register.

3. Verify your email address using the verification link sent on your email (If Mail is Not Received Your Inbox. Please Check the Spam).

4. Click the Link/URL in the received email or Paste Link/URL in browsers address bar to complete your Account Verification.

5. Now enter 111111 as OTP to verify your mobile number. Mobile Number and Pin Successfully will be sent to the registered Email Address.

6. On successful registration the login credentials will be received in the registered email.
   Application Process:

7. Visit the user Login page of the Official Website.

8. Enter registered Mobile Number along with PIN sent on your email then click Log In.

9. On successful Log In, from the left side menu bar click on Departments & Services tab.

10. Scroll down to District Industries Centre DD & DNH and click on the Click Here button to apply for Investment Promotion Scheme : 2022 to 2027 (20 May 2022 to 19 May 2027).

11. Common Application Form will be open. Enter all the details in required input fields and upload all the mandatory documents.

12. After successful entry of the information, verify all the details and click on the Submit button to complete the application process.
    Helpdesk:

    District Industries Centre,

    Contact No.: 0260-2260871 / 0260-2260310

    E-mail Address: dic-dd@nic.in

    For Technical Assistance on Single Window Portal (i.e. https://investdd.in) Contact No. : 0260-2231885 / 2231886 E-Mail : ddegs-dd@nic.in

    Documents Required

    1. Corporate Identification Number (CIN) Document.
    2. Taxpayer Identification Number (TIN) Document.
    3. Permanent Account Number (PAN) Document.*
    4. Goods and Services Tax Number (GST) Document.
    5. Other Registrations Document.
    6. Copy of Udyam Registration /Industrial Entrepreneur Memorandum, as applicable.
    7. Copy of Partnership Deed and Firm Registration Certificate in case of partnership concern or Memorandum & Articles of Association and Date of Incorporation Certificate in case of Public/Private Limited companies.
    8. Copy of land purchase deed duly signed by the applicant (If the Enterprise is functioning in its own land).
    9. Copy of registered lease agreement for a minimum period of 5 years from the date of commencement of commercial production (If the Enterprise is functioning in a leased land/ building).
    10. Copy of sanction order from Electricity Department for power supply with copy of the latest bill.
    11. Authorization letter.
    12. Copy of Consent to Operate / Renewal from PCC, DNH & DD (as applicable for Notification No. PCC/DMN/13(PART VI)/2020-21/448 DATED 25/01/2021).
    13. Copy of Factory licensee.
    14. ?Undertaking.
    15. Any other document as required.