RIPS 2022: Highlights

• Integrated policy document covering 8 priority categories:
  • Manufacturing
  • Services
  • Sunrise sectors
  • MSMEs
  • Startups
  • Industrial Parks, Logistics, Warehousing & Cold Chains
  • R&D, GC & Test Labs
  • Renewable Energy Plants
• Standard package of incentives declared for all 8 categories. Further, incentives for manufacturing and services designed basis the size of investments, employment generation, and investment region
• Higher incentives defined for investors setting up units in Area category 2 andArea Category 3 Backward Areas to promote inclusive and distributed development
• Select thrust sectors defined within Manufacturing and Services categories. Additional incentive package defined for these thrust sectors
• Multiple Asset Creation Incentive options for investors to choose from Investment Subsidy (SGST reimbursement), Capital Subsidy or Turnover Linked Incentive
• A new Employment booster introduced for Manufacturing, Services and Sunrise sectors given to investors for creating incremental jobs above base threshold
• Anchor Incentive Booster designed to provide greater impetus to the first 3Anchor units of Manufacturing and Services thrust sectors in Backward areas, in addition to the chosen Asset Creation Incentive
• Introduced comprehensive Green Initiative incentives across solution areas suchas Zero Liquid Discharge, Renewable Power, Pollution control, Water recycling, etc. to enable sustainability
• Cluster Incentives designed to encourage mother and ancillary units coming together to setup operations within the State
• Additional emphasis given to promote MSMEs by introducing higher incentives such as Interest Subsidy, Employment generation incentive, Green and Special incentives
• Tenure Based Incentive System introduced to allow telescoping of benefits accrued basis the actual investments made
• Customization Package introduced for both new and existing investors to provide greater flexibility and higher benefits on the chosen Asset Creation Incentives
• Clear and seamless transition process defined from RIPS 2019 to RIPS 2022 forall eligible existing Investors