CII says industrial development scheme a boon for Northeast
Dimapur, April 6 (EMN): The Confederation of Indian Industry (CII) has welcomed the new North East Industrial Development Scheme (NEIDS), 2017 which was approved by the cabinet committee on March 21 this year.
CII-Nagaland branch informed that the new scheme has allotted financial outlay of INR 3000 cr. till March 2020.
“The eligibility of units which are getting benefits of one or more components of other schemes of the Government of India to be considered for benefits of other components of the NEIDS is a great move,” Mayank Jalan, chairman of CII Northeast council said in a press staement.
Co-chairman of CII Northeast council, Abhijit Barooah said the truncated transport incentive, covering only finished goods, is a positive move towards plugging the leakages linked to the NEIIPP. This he said will encourage industries to utilize local raw materials for servicing the national and international market.
The scheme which demonstrates the Central government’s commitment to the region’s welfare will immensely benefit the small and medium scale industries expected to add significantly to the job creation opportunities in the region, he added.
The NEIDS provides adequate leverage for setting up of industries in the region, it was stated.