Gogoi hails new industrial policy

Guwahati, Mar 30 (UNI) Asom Chief Minister Tarun Gogoi has welcomed the new North East Industrial and Investment Promotion Policy (NEIIPP) 2007, approved by the Cabinet Committee on Economic affairs yesterday.

While expressing his thanks to UPA Chairperson Sonia Gandhi and Prime Minister Dr Manmohan Singh for the new policy, Gogoi said, ''the new policy announced yesterday has fulfilled most of our demands and is much better than the previous one''.

He called upon the young entrepreneurs of the state to take full advantage of the policy with a slew of incentives.

''The increase in capital invetment subsidy up to Rs 30 crore from the current Rs 30 lakh per unit will give a major boost to the industrialisation efforts of the NE states,'' Gogoi said adding, ''this will help in generating employment opportunities and go a long way towards solving the unemployment problem to a great extent''.

He also welcomed the inclusion of service sector, bio-technology and power generating industries in the new policy earlier not available.

The new policy will come into effect from April 1, 2007 and will be valid for 10 years. It contains several features that were not covered in the earlier one.

UNI