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Monday, January 22, 2018

NE policy hold-up worries Finer

Saturday, 11 November 2017 12:42
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Guwahati, November 10: The Federation of Industry and Commerce of North Eastern Region (Finer), the largest trade body in the Northeast, on Thursday said the delay in announcing a new industrial policy for the region is leading to industries leaving Assam.

The trade body said a number of investors who had set up shop in the state before the onset of the sunset dates for industries eligible under Northeast Industrial Investment Promotion Policy (NEIPP), 2007, are in the process of winding up their units, or limiting their outlay for projects.

A number of them had set up shop in the hope of quick announcement of a new industrial policy.

The NEIPP was abruptly suspended in December 2014 and expired in March this year.

"We are now getting phone calls of investors leaving the state as there is no surety when the policy would be announced," Finer director Sandeep Khaitan told reporters here on Thursday.

Another office-bearer of the trade body said the new policy needs to be announced early so that prospective investors know the rules and which sectors are the best to invest in.

"Announcing it two weeks before the Global Investors' Summit on February 3-4 next year here would serve no purpose as investors would hardly get any time to decide which sector to invest in," he said.

The Assam government is going all out to woo investors from around the world to participate in the summit.

The trade body said the Union cabinet meeting should be held in Guwahati before the investors' summit so that new initiatives or decisions can be announced for the investors. (TTNE)

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