“Market Development Support Assistance” under “Motivation of Entrepreneurs to Start Industries and Fiscal Assistance to Industries – Various Incentives”

Market Development Support Assistance (बाजार विकास सहायता) in Puducherry

The “Market Development Support Assistance” scheme is an initiative by the Industries and Commerce Department of the Union Territory of Puducherry, aimed at promoting entrepreneurial activities. This scheme plays a crucial role in encouraging industries to participate in international trade fairs, thereby enhancing their market presence and networking opportunities. Launched on April 1, 2017, this program is applicable across the entire Union Territory of Puducherry.

Overview of the Scheme

Under the “Market Development Support Assistance,” industrial units are eligible to receive financial support covering 50% of their total expenses related to rent, literature, and display materials, with a maximum limit set at ₹5,00,000. This assistance is specifically designed for industry associations participating in international trade fairs. Applications for this support are to be submitted offline, utilizing the prescribed format available on the official website of the department.

Benefits of the Scheme

• Assistance: 50% of total rent, literature, and display materials.
• Ceiling Limit: Up to ₹5,00,000.
• Objective: To facilitate participation in international trade fairs as part of an industry association.
• Installments: Assistance may be disbursed in one or multiple installments, depending on available funds.
• Disbursement Mode: The subsidy is provided through financial institutions or banks for units financed by them, which can be applied against the loan or for fixed asset creation or working capital. For self-financed units, the subsidy is paid directly to the entrepreneur or unit.
• Reimbursement: Assistance will be reimbursed based on actual expenditures incurred.
• Eligible Financial Institutions: Includes PIPDIC and other government corporations, along with scheduled and cooperative banks.

Eligibility Criteria

• Applicable to all Micro, Small, Medium, and Large Industries.
• Investment must have occurred on or after April 1, 2017.
• The unit should employ at least 60% of local residents from the Union Territory of Puducherry, maintaining this percentage as stated in the Affidavit.
• Prior approval from the Director of Industries is required for participation in exhibitions.
• No transfer or disposal of fixed assets, including plant and machinery, is permitted for five years from the application submission or subsidy disbursement date, whichever is later.
• New or existing units that make additional investments after the first claim are also eligible for a subsidy, up to the ceiling limit.

Special Cases: If multiple industrial units are established by the same individual or group, each unit can qualify for subsidy as a separate entity, provided they maintain distinct locations and obtain separate licenses, clearances, or registrations.

Application Process

How to Apply Offline

• Step 1: Register the claim for the incentive/subsidy using the prescribed form available on the official website of the Directorate of Industries and Commerce, Puducherry.
• Step 2: Complete the application form by filling in all mandatory fields and attaching copies of all required documents (self-attested if necessary).
• Step 3: Submit the duly completed and signed application form along with the documents to the designated authority.
• Step 4: Request a receipt or acknowledgment from the authority upon submission, ensuring it contains crucial details such as submission date, time, and unique identification number (if applicable).

Post-Application Process

• Step 1: The Directorate of Industries will review applications on a merit basis to assess eligibility for incentives and determine the admissible amount, which will then be presented to the State Level Committee.
• Step 2: The State Level Committee will evaluate each case to confirm if the unit qualifies for the subsidy and will recommend the appropriate amount of financial assistance.

Application Deadlines

• For New Units: Applications must be submitted within one year from the date of commencement of obtaining the Entrepreneurs Memorandum Part-2, Permanent Registration, or Commencement of Production Certificate.
• For Existing Units: Applications should be submitted within one year of completing expansion, diversification, or modernization efforts.

Official Source

For further details, visit myScheme.gov.in.