An interactive session was organized by Federation of Industry & Commerce of North Eastern Region (FINER) recently at Taj Vivanta, Guwahati on the recently notified North East Industrial Development Scheme (NEIDS) . The seminar was addressed by a senior team of Department of Industrial Policy & Promotion, Ministry of Industry and Commerce, Government of India, led by Dr Vandana Kumar, Joint Secy. The occasion was graced by Ravi Capoor, Additional Chief Secretary, Industry & Commerce, Government of Assam and senior officials of the department.
Dr Vandana Kumar and Arun Kumar representing DIPP, made an elaborate presentation on the salient features of the NEIDS notification and explained that while this policy has been formulated with the intent of promoting investments in the region, it also focuses on generation of employment both in the manufacturing and the service sectors. The scope of incentives to the service sector has been widened to embrace many more possible ventures compared to the earlier policy (NEIPP) which had a very select and limited scope . A live demonstration was also shown by Arun Kumar, Under Secretary, DIPP on the modus operandi of registration and follow up actions required to be taken by entrepreneurs in order to avail of the benefits of the policy .
Ravi Capoor, stressed on the need for stability in government policy formulations so that investors have confidence in the system and do not have apprehensions regarding policy shifts at short intervals He also explained the steps being taken by the Government of Assam on creation of land banks, infrastructure, and quality power and assured that the Government of Assam would very shortly formulate and announce the State Industrial Policy that will provide lucrative incentives to make the state a destination for investments.
Abhijit Barooah, Director and Past Chairman of FINER, in his address, appreciated the efforts of the Government of Assam and DIPP in bringing out NEIDS which, by and large is a much better Central Govt policy than many other states across the country. He made a detailed presentation covering the merits of each of the incentives announced. However, he expressed that the policy does not cover benefits to existing units for expanding their operations, a view widely supported by the industry fraternity in NE. He requested the DIPP officials to relook at this particular concern so that existing units bring in more investments in the form of expansion and scaling up operations in the region. Pabitra Buragohain, President FINER, expressed gratitude to both Ravi Capoor and Dr Vandana Kumar for having brought in NEIDS at a time when Assam and the region is showing signs of stability and is yearning for investments and employment generation. The event also witnessed active interaction during the Q&A session.
Bajrang Lohia, Vice President, FINER, extended the vote of thanks and reiterated his appreciation of the policy and while thanking DIPP and Government of Assam; he also assured that the industry fraternity is geared up to take the State and the region forward in terms of investment and generation of employment.