Gujarat Chief Minister Bhupendra Patel revealed a new biotechnology policy for the next five years that aims to make Gujarat one of the leading states in India in important sectors and create 1.20 lakh employment opportunities. The “Gujarat Biotechnology Policy 2022-27” has been developed with a vision to create over 1.20 lakh new employment opportunities as the state government wants to attract capital investment of Rs 20,000 Crores in the sector in upcoming years, an official statement said.

The policy offers financial assistance for technology acquisition, skill development, alternative energy production, quality certification and bandwidth leasing. Through the innovative capital expenditure (CAPEX) and operational expenditure (OPEX) models, overall financial support for units has increased, the CM said.

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According to the policy, MSMEs with a capital investment of less than Rs 200 Crores will be given maximum assistance of Rs 40 Crores. Large or mega projects with a capital investment of over Rs 200 Crores and special projects like emerging technologies will be given the support of over 25 per cent of the total capital expenditure, the document said. Similarly, MSMEs with a capital investment of less than Rs 200 Crores will be given the assistance of Rs 5 Crores per year, it added.