Guwahati: The PHD Chamber of Commerce and Industry (PHDCCI), a prominent industry association representing businesses, has fully supported the effective implementation of the Uttar Poorva Transformative Industrialization Scheme, or UNNATI-2024.

With a budget of Rs 10,037 crore, the scheme aims at developing industries and generating employment in the North East Region, and seeks to create productive economic activity in manufacturing and services.

The Chamber expressed its dedication to collaborating with the government, industry partners, and local communities to ensure the initiative lives up to its promise of driving holistic development and prosperity in the North East Region. 

The framework of UNNATI-2024, according to the PHD Chamber of Commerce and Industry (PHDCCI), stands out for its "unique focus on promoting investments in less developed areas of the North East region."

Bibhuti Dutta, Resident Director at the Chamber of Commerce and Industry said, "UNNATI-2024 is a comprehensive initiative poised to reform the economic scenario of North East India."

"One of the key pillars of UNNATI-2024 is its commitment to striking a balance between industrial development and ecological preservation. The initiative aims to achieve this delicate equilibrium by actively promoting ventures in sustainable power and green technologies", Dutta said.

According to industry experts, UNNATI-2024 is poised to be a game-changer in Northeast India's economic landscape. The scheme strategically divides the region into two zones: 'Zone A' for industrially advanced districts and 'Zone B' for economically backward districts. This zoning has tailored incentives and fair distribution of resources to empower local communities and bridge regional disparities, according to Dutta.

Speaking about the initiative, Dutta emphasized its potential to usher in a new era of progress and developmental opportunities, setting the stage for growth in the region. 

"This approach is expected to not only stimulate economic growth but also contribute to environmental sustainability in the long run," said Dutta.

"The primary goal of UNNATI-2024 is to create a conducive environment for entrepreneurship, innovation, manufacturing, and services. By doing so, the initiative seeks to generate employment, tap into the region's untapped potential, elevate economic standards, and offer incentives for the establishment or expansion of businesses", Dutta added.