Govt working on new industrial policy for North East: Nirmala

The Commerce and Industry Ministry is working on a new policy for the industrial development of the North East states, Union Minister Nirmala Sitharaman said on Saturday.

PTI| Last Updated: May 20, 2017, 18:10 PM IST
Govt working on new industrial policy for North East: Nirmala

New Delhi: The Commerce and Industry Ministry is working on a new policy for the industrial development of the North East states, Union Minister Nirmala Sitharaman said on Saturday.

The North East Industrial and Investment Promotion Policy (NEIIPP), 2007 has ended this year.

In December 2016, the ministry had approved a package of fiscal incentives to promote industrialisation and investments in this region under this policy.

"The term for this has come to an end. Something else will have to be worked out for the benefit of North East. Both Niti Aayog and DIPP are in consultation," she told reporters here.

The ministry is holding consultations with those states to understand their industrial priorities with an aim to firm up something which can help in promotion of industry and employment generation there, she added.

Additional Secretary in the Department of Industrial Policy and Promotion (DIPP) Atul Chaturvedi said that a task force has been set up on this.

It would come up with a draft policy which will be taken to the cabinet soon, he said.