Gujarat Chief Minister Bhupendra Patel unveiled the Gujarat Biotechnology Policy 2022-27 with an expected capital investment of over Rs 20,000 crore, providing assistance to more than 500 industries in the state and creating over 1.20 lakh new employment opportunities, according to a press release from the state government.

The policy aims at providing capital expenditure and operation expenses assistance to special projects, with up to 25 per cent of the total capital expenditure up to a maximum of Rs 200 crore and up to 15 per cent of the total operating cost up to a maximum of Rs 25 crore per annum.

Assistance will also be provided on term-loans of up to Rs 100 crore at an interest rate of seven per cent, with an annual ceiling of Rs 7 crore, and an interest of three per cent paid on- term loans of above Rs 100 crore, with an annual ceiling of Rs 20 crore.

MSMEs with a capital investment of less than Rs 200 crore will be given a maximum assistance of Rs 40 crore with a maximum of Rs 5 crore assistance per annum.

Mega or large projects with a capital investment of more than Rs 200 crore as well as special projects like “ecosystem empowerment, emerging technologies in challenging areas and of strategic importance” will be given up to 25 per cent of the total capital expenditure up to a maximum of Rs 200 crore, provided in the form of 20 quarterly instalments over five years.

For large, mega and special projects with capital investment of more than Rs 200 crore, OPEX assistance of up to 15 per cent of the total operating cost up to a maximum of Rs 25 crore per annum will be provided, which includes expenses for power tariff, patent assistance, marketing development assistance, lease rental subsidy, bandwidth leasing, and quality certification.

According to the state government, it will also provide support to special projects such as preclinical testing, genome sequencing in the private sector, private sector BSL-3 lab-vaccine development and manufacturing and testing and certification laboratories.

To incentivise industries, the policy will provide 100 per cent reimbursement on electricity duty and 100 per cent EPF assistance to female employees and 75 per cent reimbursement for male employees.