An industry body in the North- Eastern region on Wednesday lauded the new Assam Industrial and Investment Policy for showcasing the "Locational Advantage" of the state as a hub for manufacturing and services for the larger South East Asian market.
The Federation of Industry and Commerce of the North East Region (FINER) welcomed the policy for emphasising Assam's geographical proximity to the Association of South East Asian Nations (ASEAN) and South East Asian countries.
The policy recalibrates the focus on the strengths of the region, as against the historical premise of locational disadvantage of the area, post partition of the country and closure of traditional trade routes through Bangladesh, FINER president Pabitra Buragohain said at a press conference here.
The Assam government had on July 22 approved the 'Industrial and Investment Policy of Assam, 2019' for a period of five years.
Buragohain said it will help investments coming to thrust areas such as food processing, pharmaceuticals, plastics, bamboo, jute, sugar, rubber, IT-ITES, textiles, etc., in the manufacturing sector and hotels and resorts, river cruise, power generation through green technology in the service sectors through liberal fiscal incentives.
With focus on power generation through green technologies, the policy laid on availability of quality power, FINER treasurer Sandeep Khaitan said.
The policy provides benefits, subject to fulfillment of certain conditions, of 100 per cent reimbursement of SGST paid for a period of 15 years with limits of reimbursements pegged between 150 per cent to 250 per cent of the fixed capital.
Larger benefits have been provided for the Micro Sector and units located in the state or central government developed industrial parks, he said.
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