Gogoi hard sells Northeast to investors

Mumbai, May 13 (UNI) Asom Chief Minister Tarun Gogoi was here in the metropolis to hard sell the Centre's revamped North East Industrial Promotion Policy (NEIPP) and woo the industrialists to invest in that region.

Mr Gogoi, while interacting with industrialists and businessmen here, apprised them of the new policy, and stressed that under the new policy, the ''eight sisters'' constitute a whole new SEZ for prospective investors.

''Notwithstanding introduction of special industrial policies over the last ten years, the region failed to attract investors. The new revived policy, however, would definitely provide better opportunities to the investors,'' Mr Gogoi asserted.

Under the 1997 North East Industrial Policy (NEIP), a slew of subsidies were offered to prospective investors, and export promotion industrial parks were opened up in all the eight states.

Yet, it failed to enthuse the investors and in the ten years it could manage to woo investments to the tune of only Rs 1067.28 crore, as against Rs 18,000 crore investments reported from Uttarakhand and Himachal Pradesh. Only 681 new units were set in the Northeast.

But, the revamped policy holds promise. Alistate Group chairman Ramprasad Ruia, who proposes to set up an university in Asom, says, ''The incentive which the North-East provides to the businessmen is enormous, but the major reason for the set back is that most investors are unaware of the lucarative policies.'' Under the new NEIPP, incentives will be available to all industrial units for their expansion anywhere in the region. The distinction between ''thrust'' and ''non-thrust'' industries made in NEIP 1997 will be discontinued. Capital investment subsidy will be also enhanced from 15 per cent to 30 per cent.

UNI