The uncertainty over continuation of North East Industrial and Investment Promotion Policy (NEIIPP) 2007 would hit the growth of tourism industry in North East.
Suspension of incentives available under NEIIPP will not only adversely impact industrial growth of North East but it will also amount to a major setback to integrating North East into the mainstream national economy, reports Webindia123.
NEIIPP was introduced by the Government of India in April 2007. The policy provides a special package of fiscal incentives, subsidies and other concessions, with the objective of promoting industrialization of North East. The policy covers Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Tripura and Sikkim.
Outlining the positive outcome of NEIIPP, president of Hotel and Restaurant Association of Eastern India (HRAEI) Sudesh Poddar said it played an important role in positioning North East as a viable and competitive investment destination for the hospitality sector and helped in attracting capital investment in manufacturing and services sectors.