FICCI hails release of funds

NEW DELHI, 6 April : FICCI on Friday hailed the recent release of funds for the North-East region under DIPP’s North East Industrial and Investment Promotion Policy.

Welcoming the release of funds,President of FICCI Rashesh Shah said, “Capital and Transport subsidy scheme for the Northeast region has been a major factor for encouraging investments and accelerating industrial growth in the region. The performance of many industrial units is dependent on these subsides of the DIPP. It is heartening to see the disbursement of subsidy by DIPP, which provides a level playing field to the industrial units in the Northeast compared to the industry in other parts of the country. This would further help in integrating the country with our neighbouring countries by furthering the cause of Act East policy of the Government.”

The scheme has been helpful in encouraging not just the MSMEs, even the large companies and capital-intensive industries in the hitherto relatively unexplored industrial areas of the North East, Shah added. The government should continue with regular disbursal of funds under the scheme to encourage investments and generating employment in the region, he said. This was stated in a press release.