Investment Promotion Scheme (IPS) for MSME Sector: Incentive For Local Employment

DETAILS The scheme “Incentive For Local Employment” is a sub scheme under the “Investment Promotion Scheme (IPS)” for MSME Sector. It was launched on 3rd July, 2015 for a period of five years by the Dept. of Industries, U.T. Administration Of Dadra & Nagar Haveli And Daman & Diu. Now it has been extended further from 20th May, 2022 and shall be operative till 19th May, 2027. Objective of the "Investment Promotion Scheme (IPS)”: The scheme envisages to provide incentives and assistance to the MSME Sector in order to nurture them and protect them from market vagaries thereby making them vibrant and successful, maximize Women participation in the business sector, reduce unemployment among the local residents and incentivize the industries to employ resident laborers etc. Objective of the "Incentive For Local Employment" Sub-scheme: Under this scheme, one-time recruitment incentive is provided to the Industrial Units for generating employment for local residents. BENEFITS ₹3,00,000/- per 20 local Persons (employees) upto Maximum amount of ₹15,00,000/- to each eligible unit. ELIGIBILITY Should be a New Manufacturing/ Service units or Existing Manufacturing/ Service units which undertakes Expansion/ Diversification in MSME sector. The unit should have commenced the commercial production between 20.05.2022 to 19.05.2027. Unit should be located in the U.T. of Dadra and Nagar Haveli & Daman and Diu. The recruited employees should have a Domicile certificate of the U.T. of Dadra & Nagar Haveli And Daman & Diu. The age of the recruited employees should be above 18 years.