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FICCI hails release of funds for North-East Industrial and Investment Promotion

Apr 06, 2018


 

NEW DELHI, 6 April 2018: FICCI today hailed the recent release of funds for the North-East region under DIPP's North East Industrial and Investment Promotion Policy. 

 

Welcoming the release of funds Mr. Rashesh Shah, President, FICCI said,"Capital and Transport subsidy scheme for the North-East region has been a major factor for encouraging investments and accelerating industrial growth in the region. The performance of many industrial units is dependent on these subsides of the DIPP. It is heartening to see the disbursement of subsidy by DIPP, which provides a level playing field to the industrial units in North-East compared to the industry in other parts of the country. This would further help in integrating the country with our neighbouring countries by furthering the cause of Act East policy of the Government".

 

The scheme has been helpful in encouraging not just MSMEs even the large companies and capital-intensive industries in the hitherto relatively unexplored industrial areas of the North East, Mr. Shah added. The Government should continue with regular disbursal of funds under the scheme to encourage investments and generating employment in the region, he said