Sikkim Industrial and Investment Policy 2024 incentives

The 2024 industrial policy is the state's incentive package for new industrial units. It mostly repays taxes and costs a unit has already paid, and it runs for ten years or until a new policy replaces it.

What you get

• Reimbursement of the state share of GST on finished products, from the start of commercial production
• Stamp duty reimbursement, with a higher benefit for women-led units
• Reimbursement of patent filing costs for registered companies
• Power subsidy, support for technology transfer and quality certification, and assistance for environmental compliance
• Help for MSMEs listed on a stock exchange
• Government land on lease, free of rent for the first five years of production, for units in Mangan, Soreng, Gyalshing and Namchi
• An Innovation Fund for startups, women and youth, announced in the policy for prototyping, testing facilities and business support

Who can apply

• New industrial units only. Private and joint-sector companies, co-operatives, partnership firms, proprietorships, self-help groups, trusts and NGOs can all qualify
• Units on the policy's negative list are excluded, and further conditions are set out in the policy

How selection works: Claims up to a set size go to a steering committee chaired by the Secretary, Commerce and Industries, and are taken in order of the date production started. Incentives are paid by electronic transfer through the State Bank of Sikkim.

How to apply: Register under the scheme with the Commerce and Industries Department first. The policy says the registration and claims procedure will be issued separately, and we did not find a live registration portal on the department's site, so ask the department for the current process. Stamp duty terms in the policy document differ from those on the department's Invest in Sikkim page, so confirm which applies.