New Delhi: With an aim to strengthen the industrial ecosystem in the North East, Prime Minister Narendra Modi will launch the Uttar Poorva Transformative Industrialisation Scheme (UNNATI), a new industrial development scheme for North East from Itanagar on Saturday. The Rs 10,000 crore scheme was approved by the Union Cabinet on Thursday.
A dedicated industrial policy for the Northeast was a long pending demand of the Northeastern states as well as industry bodies from the region. The last North East Industrial Development Scheme (NEIDS), 2017, expired on March 31, 2022, after which there was no industrial scheme operational for the region.
The scheme, UNNATI, aims to attract new investment, help set up new manufacturing and services units and give a boost to employment in the northeastern states. This scheme is fully funded by the Government of India and covers all eight North Eastern states. It will provide incentives for capital investment, interest subvention, a manufacturing and services linked incentive to the approved units.
“A portal is also being started for easy and transparent registration of eligible units. UNNATI will help catalyse industrial development and aid economic growth and development of the North East region,” the government said.
Hailing the government’s move of launching the industrial scheme exclusively for the northeast, the Federation of Industries in the Northeast Region (FINER) said that the landmark decision is set to catalyse industrial growth in the region and drive socio-economic development, marking a significant milestone in the journey towards prosperity.
“UNNATI–2024 marks a new chapter in the industrial roadmap for the region, and is a 10-year initiative (till 2034), bolstered by an outlay of Rs 10,037 crore, with an additional eight years allotted for committed liabilities, aims to boost economic growth and employment opportunities in the North East,” the industry body said.
It said that UNNATI–2024 is poised to revolutionise the industrial landscape of Uttar Poorva, ushering in a new era of progress and opportunity. “By focusing on fostering a conducive environment for manufacturing, innovation, services and entrepreneurship UNNATI – 2024 seeks to create jobs, unlock the region's untapped potential, uplift socio-economic standards and offer incentives for setting up new businesses or expand existing ones,” the FINER said.
It also aims to strike a balance between industrial growth and environmental conservation by encouraging industries like renewable energy while restricting those with potential environmental impacts. The scheme will help boost employment opportunities, augment income levels, and enhance the overall quality of life for lakhs of people in the region, the industry body said.
“As the apex body representing industries in the NorthEast Region, FINER pledges its full support to the successful implementation of UNNATI–2024. We are committed to collaborating with the government, industry stakeholders and local communities to ensure that this transformative initiative fulfils its promise of driving holistic development and prosperity in Uttar Poorva,” the federation said.
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