'Advantage Assam & NEIDS contradict on investment'

GUWAHATI, March 28: The Assam Pradesh Congress Committee (APCC) has said that the approach to boost big investments in Assam is contradictory. While Advantage Assam favours big investments in the State, the North-East Industrial Development Scheme (NEIDS) declared by the Centre recently has put barriers against big investments in the State. “It’s a big setback for the medium and large-scale industries to invest in Assam or the region as the new Industrial policy has given 30 per cent of the investment in plant and machinery with an upper limit of Rs 5 crore as Central capital investment subsidy. The previous scheme (NEIIPP) accommodated all sectors – micro, small, medium and large industries – giving 30 per cent incentive with no upper limit for getting benefits. The results of which has given us industries like SUN Pharma, Patanjali Ayurvedics, Hindustan Unilever, Ajanta Pharma Ltd, Star Cement, Century Ply, Dabur India etc., which could successfully set up units in Assam, creating thousands of jobs and employment for our local people,” the APCC said in a press release.