Guwahati: The Northeast region of India has been waiting anxiously for a new industrial policy since the expiration of the North East Industrial Development Scheme (NEIDS) two years ago. As Prime Minister Narendra Modi is set to visit Assam on Feb 3-4, there is anticipation for any assurances or hints regarding the renewal of the policy.
However, with elections looming in April, the formulation of a new policy might be deferred to the next government. In a recent parliamentary reply on December 14, 2023, Minister of State of the Ministry of Development of Northeastern Region, Shri B L Verma, stated that the process of formulating a policy involves multiple steps such as stakeholder consultations, inter-ministerial consultations, Expenditure Finance Committee meetings, and approval by the Cabinet. The minister asserted that specifying a particular date for announcing a new industrial policy for the Northeast is not feasible.
Despite the BJP-led government emphasising its commitment to supporting the Northeast and labeling it as the Ashta Lakshmi of India, concerns are mounting as the NEIDS, launched on April 1, 2017, and notified on April 12, 2018, expired in 2022. The scheme aimed to boost industrialization in the North Eastern states.
The Federation of Industry & Commerce of North Eastern Region, while appreciating the interim budget presented by Union Finance Minister Nirmala Sitharaman, expressed disappointment over the extended delay in formulating a new industrial policy for the region. The organization urged swift action, emphasizing the unique needs of the Northeast and its potential contributions to national development.
Assam Chief Minister Himanta Biswa Sarma has been actively urging the Centre to introduce a new industrial policy to attract private investors to the region. In December 2023, he appealed to Union Minister Piyush Goyal to launch the North East Industrial Policy, citing the state’s rapid progress with new investments. The Union minister assured the Assam chief minister that the North East industrial policy would be under active consideration.
The Commerce Ministry responded to a parliamentary committee, stating that the evaluation report of NEIDS, 2017, has been received from DMEO, NITI Aayog. The report’s recommendations and observations are being considered for framing a holistic industrial policy for the North Eastern States. The ministry added that the draft scheme is under active consideration, with ongoing deliberations involving the concerned State Governments, NITI Aayog, and DoNER.
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The parliamentary committee expressed concern that further delays in notifying a new industrial development scheme for the North Eastern Region may impede the momentum gained in industrialization, as new industrial units are currently ineligible for benefits under the erstwhile schemes. The committee recommended the Department to expedite the evaluation process with NITI Aayog and to formulate and notify a new industrial development scheme without further delay.
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