More concessions to NE sought

NEW DELHI: CII is learnt to have asked the government to review the North East Industrial Policy, 1997, and give much more incentives too woo investors to that trouble-torn region.

Excise and income tax concessions, transport subsidies etc., conceded to Himachal Pradesh and Uttaranchal in January, 2003, have had major fallout in attracting investment to NE region.

S Sen, deputy director general of CII, told ET that the industry body hasn’t yet taken up the issue officially.

“I presume, the department of North Eastern Region (DONER) itself has been highlighting the fact that very few industries would like to invest in the North East as more or less same concessions were extended to Himachal and Uttaranchal last year. We have, however, discussed the matter at certain forums. It’s good that industries get a lot of concessions in states like Uttaranchal and Himachal. But we feel that concessions in North-East and J&K should be much much more,� said Sen.

Interestingly, CII has started focusing on creating entrepreneurial skill and getting more investment for North East. It has nearly 50 members from that region, and have opened offices at Dimapur and Guwahati.

According to the NE industrial policy, which is valid upto 2007, industries in the NE can avail of income tax and excise exemptions for 10 years, in addition to getting concessions like capital investment subsidy, interest subsidy etc.

Sen added, “For the development of North-East, the investment from outside is not the only way out. We have been concentrating on areas like handloom and handicraft, where the region has a potentiaL.�