GUWAHATI, Nov 9 ? The Federation of Industries and Commerce of North Eastern Region (FINER) has welcomed the statement of Chief Minster Tarun Gogoi for reviewing the incentives announced to the North Indian States vis-?-vis the North East Industrial Policy (NEIP).
The Chief Minister yesterday at the mid-term review meeting of the 10th Five Year Plan held here, said that the extension of the same incentives as announced in the NEIP, to the North Indian States had slowed down industrial growth in the State.
The growth of the secondary sector in the State was static at 9.7 per cent during the 2001-02 and 2002-03 fiscals, he said apprehending that the effects of the Central Government policy were likely to continue in the current fiscal too. Chief Secretary of the State S Kabilan also observed at the meeting that all things remaining the same, the investors would like to invest outside the region.
FINER, in a statement here this evening said that with similar packages of fiscal incentives being provided to certain North Indian states, the NE region has been put to further disadvantage. Areas such as Himachal Pradesh and Uttaranchal are well placed in terms of infrastructure and their closeness to the major markets and hence are the preferred destinations for the investors vis-?-vis the NE region.
The NE region is more than 2,000 kilometres from the major markets and source of raw materials and therefore is in a great disadvantageous position compared to the North Indian States. The pace of development in NE region can only be accelerated with the rapid industrialisation and this is the only medium, which can effectively integrate the region with the rest of the country, said the FINER.
FINER supported the view expressed by Chief Minster Tarun Gogoi in the mid-term review meeting of the 10th Five Year Plan yesterday to make the NEIP more effective so as to accelerate the pace of development in the NE region.