ANNOUNCEMENT 23 Feb 2009In February 2009, the government of India announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
On 23 February 2009, the Cabinet Committee on Economic Affairs India approved the Industrial Infrastructure Upgradation Scheme (IIUS) with a total budget allocation of INR 1050 crores (USD 170.15 million).
On 11 July 2013, a Modified Industrial Infrastructure Upgradation Scheme (MIIUS) was approved for the 12th five year plan (2012-2017), with a total budget of INR 1030 crores (USD 167.21 million).
The objective of the scheme is to strategically intervene in high potential industrial clusters/locations to enhance their international competitiveness by providing access to better infrastructure through public private partnerships.
Under this scheme, infrastructure includes physical infrastructure, information and communications technology, R&D, quality certification centres, international marketing, process re-engineering & management consultancy service center etc.
The assistance is in the form of grants restricted to 75% of the project cost with a cap of INR 50 crores (USD 8.12 million).
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.