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New industrial policy for NE region will be introduced soon:

Press Trust of India  |  Guwahati 

NITI Aayog today said a new industrial policy for the North Eastern region will be introduced soon keeping in mind the potential of South East Asian markets.

NITI Aayog Chief Executive Officer, Amitabh Kant said this during a discussion on a new industrial policy here, an official release said.

Kant said the new policy will be forward-looking and progressive, which would enhance power, connectivity, infrastructure facilities to capture the South East Asian markets.

He further mentioned that the new policy will also focus on long-term sustainable development with thrust on local entrepreneurship.

"Every state has their core competencies and it should excel in that area," Kant said, citing the example of being the first state to be fully organic.

During the one-to-one interactive session, all the North Eastern states participated along with various industrial and trade organisations.

Department of Industrial Policy and Promotion (DIPP) Secretary Ramesh Abhishek said the new policy would address optimum utilisation of local resources and talent, which would guarantee employment generation and value addition.

"Focus will be on key thrust areas like tourism, hospitality, bamboo, power, rubber and food processing, which will make the impact visible," he added.

DIPP Joint Secretary Ravneet Kaur said since the North East Industrial & Investment Promotion Policy (NEIIPP) is expiring on March 31, the Central government is actively considering formulation of a new industrial policy, which will be multi-sectoral and will address the states' concerns.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 15 2017. 20:23 IST