shine india magazine subscription Published this articles page no 43 Gujarat has also become the first state to delink the incentives for industries under the State Goods & Services Tax (SGST). The Government of Gujarat also offers extensive support for developing micro small and medium enterprises in the State. It is aligned with the vision of First Production Then Permission. Accordingly the State Government passed the Gujarat Micro Small and Medium Enterprises (Facilitation of Establishment and Operation) MSME Act 2019. MSMEs under the Act are exempted from obtaining prior approvals for three years and can put in necessary initial attempts to start the industry successfully. To date over 900+ MSMEs have benefitted through this scheme. The State Government has also signed MoUs with banks for easy loan approval of MSMEs. Gujarat witnessed a transformation with the advent of the Tata Motors plant in Sanand. It is because of this reason that the state has been successful in attracting investments in the automobile sector and emerged as an automobile manufacturing hub. Major multinational automobile companies like Suzuki Motor Ford India Honda and Hero MotoCorp have established operations in Gujarat. With this Gujarat also witnessed a transformation in investment sectors and there has been a shift from traditional sectors like chemicals metallurgical industries transportation etc. to sectors like telecommunication automobile renewable energy technical textiles etc. shine india magazine subscription
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