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DAILY NEWS ANALYSIS

  • 07 December, 2021

  • 8 Min Read

Make in Northeast Initiative

Make in Northeast Initiative

  • Under the DPIIT, Ministry of Commerce and Industry, a dedicated Northeast Desk has been set up within Invest India, which supports the North East States in their outreach activities to the investors as well as in facilitating and handholding select companies.
  • The desk is working closely with One District One Product (ODOP), StartUP and other sector desks of Invest India for their initiatives in the region.
  • The Invest Northeast Portal, presenting investment opportunities in the region across sectors and States to both domestic and foreign investors, has also been developed.

Invest India

  • It is a non profit venture under DPIIT, Ministry of Commerce & Industry. It is a National Investment Promotion and Facilitation Agency (NIPFA) and act as 1st point of reference for investors.
  • It is a joint venture (not for profit) between DPIIT (35%), FICCI, CII, NASSCOM (51%) and various State Govts (0.5% each).
  • It provides sector specific and state specific information. It focuses on sector specific investor targeting and development of new partnerships.
  • It collaborates with different agencies and multilateral organizations. Its experts, specializes across sectors, countries, handhold investors through their investment lifecycle - pre investment to after care.
  • Invest India Business Immunity Platform (BIP): is a comprehensive resource to help businesses and investors get real time updates on COVID-19.

North East Industrial Development Scheme (NEIDS), 2017

  • The North East Industrial Development Scheme (NEIDS), 2017 has come into force with effect from 01.04.2017 for a period of five years.
  • The scheme covers manufacturing and service sector of all the States of North Eastern Region (NER), including Sikkim.
  • Various benefits provided under the scheme include: (i) Central Capital Investment Incentive for access to credit; (ii) Central Interest Incentive; (iii) Central Comprehensive Insurance Incentive; (iv) Income Tax Reimbursement; (v) Goods and Services Tax Reimbursement; (vi) Employment Incentive;and (vii) Transport Incentive.

Other initiatives for Make in Northeast

  • In collaboration with the NITI Aayog, the 'NITI Forum for North East' constituted for accelerated, inclusive and sustainable development in the North East Region, has identified 5 focus sectors, viz. Tea, Tourism, Bamboo, Dairy and Pisciculture.
  • The Government has been providing special emphasis to the development and promotion of tourism in the North Eastern States. Under the Swadesh Darshan Scheme of the Ministry of Tourism, sixteen projects with themes of Heritage, Wildlife, Spiritual, Tribal, Eco-adventure etc with total amount of Rs.1,337.63 crore have been sanctioned.
  • Under the Pilgrimage Rejuvenation and Spiritual Heritage Augmentation Drive (PRASHAD) Scheme, development of Kamakhya Devi Temple (Rs.29.99 crore) and Pilgrimage Facilitation at Nagaland (Rs.25.26 crore) and Meghalaya (Rs.29.31 crore) have been sanctioned. Further, Kaziranga National Park (Assam) has been identified under the Iconic Site Development Scheme.
  • Ministry of Development of North Eastern Region (MDoNER), under its various schemes like Non-Lapsable Central Pool of Resources (NLCPR) and its successor North East Special Infrastructure Development Scheme (NESIDS), Schemes of North Eastern Council (NEC) and North East Road Sector Development Scheme (NERSDS) has also taken steps to bridge the social and physical infrastructure gaps, which will promote investment in the North East Region.
  • In addition, various Pan-India Schemes are being implemented in the North Eastern States for their sustainable development, e.g., Jal Jeevan Mission, Atal Mission for Rejuvenation and Urban Transformation, Swachh Bharat Mission, etc.
  • The NE Desk of Invest India under DPIIT has organized events like National Handloom Day and Business Conclave, in collaboration with Industry associations, to promote investment opportunities in the region.

Source: PIB


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