The Jharkhand Automobile and Auto-component Industries Policy 2016 aims at creating favorable atmosphere for setting-up of automobile and auto-component manufacturing units in the state through creation of infrastructure facilities, skilled manpower, encouragement of capital investment and technology up-gradation, development of marketing network, development promotion, grants and concessions.
The main objectives of this policy are:
To make Jharkhand as most preferred destination for automobile and auto-component manufacturing units in Eastern India.
To create additional employment opportunities for 50,000 personnel in this sector by 2020.
To attract mega automobile projects in the state and promote the establishment of new auto-cluster and strengthening of existing auto cluster in the state.
To encourage establishment of Tier-1, Tier-2 and Tier-3 auto-component manufacturers in the state, so as to create direct and indirect employment opportunities and to promote local entrepreneurship.
To identify and address the existing infrastructure gaps affecting the automobile and auto-components industry.
To augment the talent pool to meet the long term skilled manpower requirements of this industry and to encourage Public-Private-Partnership initiatives and Industry-Institution partnerships in skill development.
Capital Subsidy for Common Infrastructure: Financial assistance of 50% for fixed capital investments in building and common infrastructure with upper cap of INR 20 Cr. For Development of Auto Clusters, Auto Vendor Park or Automotive Suppliers Manufacturing Centers.
Stamp Duty Exemption
Reimbursement/concession on stamp duty and transfer duty on the lands will be provided as per extend state industrial policy. (Manufacturing Units)
MSME units of Automobile and Auto-components manufacturers shall be eligible for fiscal incentives as per extend industrial policy of Jharkhand
100% GST concession for 10 years (Manufacturing Units)
Power Tariff Rebate
100% electricity duty exemption for10 Year
Electricity Duty Rebate
100% electricity duty exemption for 10 Year
75% of the cost subject to a maximum of Rs 25 lakhs for obtaining patent registration and 50% of the cost subject to a maximum of INR 5 lakhs for obtaining quality certification for MSME