The Gujarat state government on Thursday gave an in-principle nod to the multi-purpose Integrated Logistics and Logistics Parks Policy, 2021, which provides financial support to the entire logistics value chain.
As per the official release, the approvals was given at the 38th board meeting of the Gujarat Infrastructure Development Board (GIDB) which was chaired by Chief Minister Vijay Rupani.
This new policy, which is framed after much contemplation is said to support the entire value chain of logistic parks and will also cover warehousing, cold storage, air-freight stations, jetties, and ports.
Under this new policy, the development of logistic facilities at a new jetty will be eligible for a 25 percent capital subsidy which will be given on fixed capital investment. This subsidy will be given up to a maximum of Rs 15 crore. Furthermore, it will allow a seven percent interest subsidy for seven years on loans. The policy also has a provision to reimburse 100 percent of stamp duty paid to the state government.
The said policy also has provisions for the skill enhancement of employees who are working in this sector. Under the policy, the government will reimburse Rs 15,000 of fees for every trainee who receives 120 hours of training. This reimbursement will be 100 percent for women trainees. The policy framework also supports quality certification, patents, and research and development.
Furthermore, the government will also create a state-wide logistic master plan to help identify storage locations for future projects. Ten different departments of the government will be cooperating in creating this master plan.
The official government statement informed that with the provisions of the national logistics policy, the logistics network of Gujarat will be technology-driven and compatible.
It further added that the policy has been made keeping in line with the changes that have occurred in the global supply chain during the last year, where the outbreak of the pandemic adversely affected operations.
Gujarat has secured the first spot in the Logistics Ease Across Different States (LEADS) Index of the central government and with this new policy in place, the state will set a new benchmark in the logistics sector, the statement said.