Gogoi urges businessmen to invest in northeast

Mumbai, May 12: Assam Chief Minister Tarun Gogoi today urged businessmen here to invest in the northeast for the region's economic prosperity and development.

Addressing a gathering of businessman at the Indian Merchants' Chamber here, Mr Gogoi elucidated various policies and sops offered in the region.

Mr Gogoi pointed out that the entire northeast region represents a huge Special Economic Zone, enjoying unparalleled fiscal facilitation.

The Centre's North East Industrial Policy 1997 offers capital investment subsidy of 15 per cent, transportation subsidy of 90 per cent, working capital interest subsidy of 3 per cent, and excise duty and income tax holiday for ten years, he pointed out.

''While the region's infrastructure is steadily growing, there still exsists tremendous potential for investment in areas such as power, handicrafts and tourism,'' Mr Gogoi said.

The Government has recently approved a package of fiscal incentives and other concessions for the northeast under the North East Investment Promotion Policy (NEIIP) 2007.

The Region shares 98 per cent of its boundaries with other countries and, together with eastern India, Bangladesh, Bhutan, Nepal and Myanmar, constitutes a market of 40 crore people.

UNI