The Hindu Business Line : `North-East industrial policy likely by March'

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Kolkata Feb. 11 The Centre may announce the North East Industrial Policy (NEIP), 2007 by next month. The new policy will include Sikkim and is expected to be announced before the existing NEIP 1997 expires on March 31.

Addressing a road show for the third North East Business Summit, here on Saturday, the Union Minister for Development of the North Eastern Region (DoNER), Mr Mani Shankar Aiyar, said, "The NEIP 1997 will come to an end by March 31, 2007. The Centre will come out with its new policy before the old one expires. This time, Sikkim is being included." Sikkim is excluded in the existing policy.

The road show was organised jointly by Indian Chamber of Commerce and the Department for Development of the North-Eastern region. The new policy will continue with the exemption of taxes, capital investment and interest subsidy and will introduce a comprehensive insurance coverage for the industrial units.

Reflecting on slow growth in industrialisation of the region, Mr Aiyar said that the quantum on investments in the north eastern States were "poor" due to lack of adequate physical and social infrastructure.

The region has received an investment of merely Rs 1,067 crore till 2004 under the existing policy.

To reverse the trend, the Centre is now drawing a five-year roadmap to develop infrastructure in the N-E region. "In the 11th Five Year Plan, the Centre plans to invest Rs 50,000 crore for setting up road infrastructure in the region. We also hope that the region will become power surplus within next five years," the Minister said.

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`North-East industrial policy likely by March'