The Union Territory of Daman Diu is fast developing into a modern and beautiful belt for Industry and Tourism. Besides being ideally located and well connected, this UT offer entrepreneurs and industrialists excellent incentives and motivation to set up their base here. The Union Territory of Daman Diu has conducive ambience, fast approvals, tax holidays and other benefits.
Tax concessions
In Daman & Diu SSI Units, MSI Units and LSI Units are exempted from payment of Sales Tax for 15 years from the date of commencement of production.
There is no Octroi Duty in Daman and Diu.
In Daman and Diu 50% Exemption is available on Stamp Duty to SSI units for executing legal documents like lease/mortgage agreements etc.
100% Income Tax benefit under section 80-IA of Income Tax Act, recently introduced, for initial 5 assessment years.
Low Power Tariff
The power tariff for High tension and Low tension consumers for industrial purpose is very low in the UTs.
Omnibus Industrial Development Corporation
M/s. Omnibus Industrial Development Corporation (OIDC) of Daman & Diu and Dadra& Nagar Haveli has been incorporated by the Government of India specifically to aid, assist, finance, promote, expedite and accelerate the economic development of these UTs in various areas covering industries, Fisheries, Mining, Tourism, Agro-Industries, Communication, Transport, Housing and related activities.
Activities Of OIDC
Financing
OIDC has been notified as Financial Institution (FI) under the IDBI Act by the Government of India for refinancing schemes of IDBI and SIDBI. Some important schemes of IDBI/SIDBI likely to be undertaken by OIDC are
Term loan to Industry- maximum limit Rs.90 Lakhs (Cottage, Village and Tiny Ind., SSI, MSI & LSI)
Financial Assistance to Hotels/Tourism related projects
Financial Assistance for Small Transport Operators
