- Daga Mansion, 17/2, Tikekar Road, Dhantoli, Nagpur 440012
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MIHAN – Multi Model International Cargo Hub and Airport in Nagpur (Exact Centre of India) is a cargo and passenger hub development initiate by Government of India on the same lines as Singapore. It is spread over 4053 hectares of land having SEZ and Non-SEZ zones aerospace. With this, there is huge opportunity in Aerospace under Make in India initiative by Government of India especially in MRO, Sub-contracting electrical, electronic, mechanical engineering, and metal working, etc.
The global Aerospace industries’ MIHAN growth will be supported by market expansion in developing countries like India. The aerospace market in India is expected to grow at a rate of 10 percent as the Government of India is focused on driving indigenous manufacturing sector. To promote investment in India, government has come up with various fiscal and infrastructural incentives at National as well as State levels.
There is huge opportunity to invest in India in Aerospace particularly at MIHAN, Nagpur in India where Dassault, Boeing MRO, AAR INDAMER MRO are already operational and THALES, TAL (Tata Aeronautics Ltd), WEARE Group of France are under construction. Dassault Reliance Aeronautics Limited (DRAL) is currently manufacturing FALCON-2000 followed by Rafale in coming times.
Ample availability of land at very reasonable rate i.e. 0.09 million euros per acre.
Multi-product Special Economic Zone (Area of about 1340 Ha.) MIHAN Aerospace; State of the art physical and social infrastructure: 2 to 6 lane roads; Dual water supply system; Sewage treatment plant; Telecom network; Street lights, T&D network etc.
Investment envisaged about Rs. 5,000 Cr (625 Million Euro) in SEZ.
Economical cost of labour.
Duty free import/ domestic procurement of goods for development, operation, and maintenance of SEZ units.
External commercial borrowing by SEZ units up to US $500 million in a year; without any maturity restriction through recognized banking channels. Single window clearance for Central and State level approvals; Exemption from other levies as extended by the State Government; 100% FDI allowed; Public Utility Service (PUS) status.
The GoI grant will be restricted up to Rs. 18 Cr. or 90% of the cost of Project, whichever is lower. GoI grant will be 90% for CFCs in NE & Hill States, Island territories, Aspirational Districts/ LWE affected Districts, Clusters with more than 50% (a) micro/ village, (b) women owned, (c) SC/ST units.
The cost of Project includes cost of Land (subject to maximum of 25% of Project Cost), building, pre-operative expenses, preliminary expenses, machinery & equipment, miscellaneous fixed assets, support infrastructure such as water supply, electricity and margin money for working capital and other tangible assests.
Adaptive reuse of the unutilized/ partially utilized buildings and assets under Public & Private Sector would be encouraged under the scheme.
There should be a minimum of 20 MSE (10 in special cases) cluster units serving as members of the Special Purpose Vehicle (SPV).
Exempted from payment of Electricity Duty during eligibility period not exceeding 15 years.
Waiver from stamp duty: New Units as well as Units undertaking Expansion/ Diversification (including Mega and Ultra Mega Projects) will be exempted from payment of Stamp duty during the Investment period.
Incentives for Credit Rating of MSMEs in all categories of areas
75% of the cost of carrying out Credit Rating by Small Industries Development Bank of India/ Government accredited Credit Rating Agency, limited to Rs. 40,000. New MSMEs, LSI and Expansion thereof will be eligible for the following incentives in all categories of areasThe amount of incentives to be disbursed to the MSMEs and LSI Units every year will be limited to the total quantum of incentives divided by the number of years as per the applicable eligibility period with the provision of carrying forward the differential between the actual sanctioned amount for a given year and the yearly disbursement limit.
Example : If the unit is eligible for the total quantum of Rs.1000 and the E.C. period is 10 years, then actual incentives disbursed to such unit, shall not exceed Rs. 100 (1000/10) in a given year even though the amount of total incentives sanctioned for that year is more than Rs. 100. The difference (yearly sanctioned amount minus yearly disbursement limit) can be carried forward for the Subsequent years of E.C. period, such that the actual disbursement of incentives is not more than Rs.100 in any year.
