Guwahati: The Federation of Industry and Commerce of the North Eastern Region (FINER) on Tuesday held a meeting with Department for Promotion of Industry and Internal Trade (DPIIT) officials to discuss the implementation of the Uttar Poorva Transformative Industrialization Scheme (UNNATI), 2024.

Representatives from FINER presented their insights and suggestions and appreciated the initiative's potential to drive development and prosperity in the region. "The UNNATI Policy holds immense promise for the North-Eastern Region, and it is imperative to address any implementation challenges to maximize its impact", Bajrang Lohia, the president of FINER, commented, "We are grateful for the receptive engagement from DPIIT officials and remain committed to fostering dialogue and collaboration for the holistic development of the region."

The officials also raised concerns about the gap between previous and new policies, highlighting the risk of businesses being excluded from benefits. They also emphasized practical issues with linking the term loan subsidy with the term loan on eligible plant and machinery items.

The representatives from FINER also emphasized the importance of addressing implementation challenges to maximize the impact of the UNNATI.

Mayuri Bora, assistant director of FINER, speaking to Business North East, said that FINER has been "continuously working very hard for this new policy."

"The meeting concluded on a positive note with a mutual understanding of the challenges and opportunities ahead, underscoring the collaborative efforts required to realize the full potential of the UNNATI Policy in driving sustainable development and prosperity", said an official.

Earlier this month, the central government formulated the UNNATI as a Central Sector Scheme to develop Industries and generate employment in the Northeast Indian states.

It will be implemented over 10 years from the date of notification along with 8 years for committed liabilities for Rs.10,037 crore.

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