India’s North East states have decided to approach the Centre for a revision in North East Industrial and Investment Promotion Policy (NEIIPP) in order to give more thrust to the micro, small and medium enterprises (MSMEs) segment in the region.
India’s North East states have decided to approach the Centre for a revision in North East Industrial and Investment Promotion Policy (NEIIPP) in order to give more thrust to the micro, small and medium enterprises (MSMEs) segment in the region.
"While NEIIPP has been successful since its formulation in 2007, there are certain constraints for the states in the North East in bringing big industries to the region as we cannot provide them land for setting up units as per their specifications," said Pradyut Bordoloi, Assam Commerce and Industry Minister, to the reporters yesterday, after a meeting of ministers and officials of the Commerce and Industry departments of the North Eastern states and business chambers.
The minister added, “The thrust of the policy should be tuned in such a way that MSME sector get a boost. So the North-eastern states request that the NEIIPP should be revised to achieve such a target.”
The meeting was held to review the performance of the NEIIPP during last five years. In the meeting, the states also demanded that interest subsidy for setting up industries in the region should be enhanced to seven per cent, from the current three per cent, to tide over the high interest rate regime.
"We have also asked the central government to set up bank branches in all district headquarters of north eastern states dedicated to MSME segment so that first generation and poor entrepreneurs can avail of easy credit," Bordoloi added.
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