GUWAHATI, May 19 - State Commerce and Industry Minister Chandra Mohan Patowary today said that the new industrial policy for the North East is expected to be released in June this year.
Talking to media persons here the minister said that once the Centre comes up with a new policy, it would lead to upsurge in investment in the industrial sector in the State as well as the northeastern region.
The last policy, North East Industrial Investment Promotion Policy (NEIIPP) 2007, had expired on March 31.
Patowary said the focus was on improving infrastructure to meet the expected industrial boom, especially on better communication links through road, water, air and railways.
“To make the business environment investor-friendly, the department has also created a land bank with 700 acres of available developed land,” the minister informed while adding that if any industry fails to begin its production within three years, the land will be taken back and the amount paid may also be forfeited.
“Industries that will utilise the locally available resources and also generated employment facilities for the local youths would be given the priority,” he said.
In the past one year since the BJP-led new coalition government assumed power in Assam, 2,317 industrial units worth Rs 6,499.75 crore investments have been set up in the State, generating 40,000 direct and indirect employment. Out of these, 124 are medium and large units, with an investment of Rs 5,881.60 crore and employment of over 20,000.
“Many existing units have expanded their capacity. If we take those investments into consideration, the total amount invested in the last one year will be over Rs 11,000 crore,” the minister added.