New Delhi, Mar 28 (KNN) The Federation of Industry & Commerce of North Eastern Region (FINER) has raised concerns over the newly introduced Uttar Poorva Transformative Industrialisation Scheme (UNNATI) 2024 for the North-Eastern Region.

In a crucial meeting with senior officials from the Department for Promotion of Industry and Internal Trade (DPIIT), FINER highlighted concerns about the gap between previous policies and UNNATI, leaving businesses caught in transition at risk of exclusion from benefits.

They also highlighted exclusions in the list of eligible plant and machinery items that could restrict benefits, and practical challenges with linking the term loan subsidy to eligible plant & machinery term loans, in a detailed presentation.

FINER urged DPIIT to align investment items under UNNATI with previous policies like the Northeast Industrial and Investment Promotion Policy (NEIIPP) and the North East Industrial Development Scheme (NEIDS) to provide continuity for businesses in the region.

In the meeting, FINER provided a comprehensive presentation detailing their perspectives and recommendations on the execution of the UNNATI Policy. While expressing deep gratitude for the forward-thinking UNNATI initiative, FINER underscored its capacity to drive progress and prosperity throughout the North-Eastern Region.

Bajrang Lohia, President of FINER, remarked, “The UNNATI Policy offers significant potential for the North-Eastern Region, and it's crucial to tackle any hurdles in its execution to fully leverage its benefits. We appreciate the receptive interaction with DPIIT officials and are dedicated to promoting discussions and partnerships for the comprehensive growth of the region.”

In attendance at the significant meeting were Bajrang Lohia, President of FINER, accompanied by Sandeep Khaitan and Binit Todi, Directors of FINER. They convened with R.K. Singh, Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), along with Balamurugan, Joint Secretary, and Kajal, Director, in New Delhi.

The UNNATI scheme, approved by the Union Cabinet, aims to boost industrialisation and employment in the North-Eastern states over 10 years at a total cost of Rs 10,037 crore. It is projected to attract around 2,180 applications and generate 83,000 direct jobs, along with significant indirect employment. While appreciating the scheme's vision, FINER emphasised the need to address implementation challenges to maximise its impact on the region's development and prosperity.

(KNN Bureau)