DPIIT to organise symposium in Guwahati on Saturday to push investment in NE region

With an objective to push investment in northeastern region of the country, the Department for Promotion of Industry and Internal Trade (DPIIT) is organising a day-long symposium in Guwahati on Saturday.

The main objective of the symposium is to facilitate knowledge sharing between northeastern states on North East Industrial Development Scheme (NEIDS), good practices in investment promotion and facilitation, reviewing the progress under sector-specific and cluster based development, ease of doing business and promotion of industrial system.

Detailed presentations will be given to business community on start-up ecosystem and ease of doing business initiatives of the government, a DPIIT official said.

The focus will be on improving investment ecosystem in the region with a special focus on NEIDS.

The scheme, covering manufacturing and service sector, was approved on March 21, 2018. It is effective from April 2017 to March 2022.

It gives encouragement to MSMEs in manufacturing, services. Information technology is leveraged to process and approve proposals and release payment.

Manufacturing and service units of northeast can avail benefits up to Rs 200 crore per unit under all components of scheme, subject to investment in plant and machinery.

The official said that northeast region's value chain potential with Bangladesh, the Association of South East Asian Nations (ASEAN) countries and rest of India in agriculture, horticulture, floriculture, processed food, engineering, automobiles, garments, and pharmaceuticals have remained unlocked.

Department heads of northeastern states, national bodies like APEDA and NEC, representatives from industry associations would participate in the symposium.