Ignored in the budget speech, the Northeast pins its hopes on investor summit

GUWAHATI: With Union budget 2018-19 not mentioning anything about the fiscal package for the North East Industrial and Investment Promotion Policy (NEIIPP), hope now hinges on the global investor summit to be held in Assam on February 3 and 4.

The Government of India had been implementing the NEIIPP 2007 for North Eastern States, including Sikkim, and the Package for Special Category States for Jammu and Kashmir, Uttarakhand and Himachal Pradesh to promote industrialization. Both schemes expired in 2017, but the government has said it is drafting a new fiscal package for Northeast India.

“We had expected some hint about the revival of the policy; however, now we expect that Prime Minister Narendra Modi, who will inaugurate the global investor summit in Guwahati on February 3, will make some announcement in this regard," said RS Joshi, a member of local industry body, Federation of Industry and Commerce of North Eastern Region.


“There is a trend in the present government that it hardly announces region-specific announcements in Union budget, so we can expect something from the prime minister’s visit.”

Assam industry minister, Chandra Mohan Patwary said the Government of India has committed that a new policy to attract investment in the region is being drafted.