Gujarat Apparel Policy: A New Paradigm To Attract Investment

The Gujarat Government recently announced their new Apparel Policy. Varun Vaid, Associate Director, and Disha Acharya, Consultant, Wazir Advisors India Pvt. Ltd discuss the new Apparel Policy, and the several attractive benefits that has been included in the same.

In recent times, there has been a slew of investment incentives declared by various Indian State Government to attract Apparel Manufacturers to establish their operations there. They have Announced all sort of fiscal incentives such as Wage subsidy, Capital subsidy, Interest subsidy, power subsidy, ESI/EPF support, training subsidy, stamp duty exemption, subsidised land cost, etc. If we look at successful International Investment Models (such as China), then an important Ingredient that can be spotted missing in Indian state offerings is of availability of Readymade Manufacturing and Support Infrastructure. Chinese SEZs and Industrial parks boast of so called plug & play set-ups where the Investor could bring his machinery and manpower and could start operations in no time. The same model is also being followed by Ethiopia nowadays which is offering such Infrastructure to International Investors in its Industrial Parks.