The Federation of Industry and Commerce of North Eastern Region (FINER) has raised concerns over the apparent gap in the Northeast Industrial Policy. The policy, aimed at promoting industrial growth in the region, is facing criticism for its perceived inadequacies.
According to FINER, while the Northeast Industrial Policy outlines various incentives and support mechanisms to boost industrial development, there remain significant gaps in its implementation. These gaps are reportedly hindering the region’s ability to attract investments and foster sustainable industrial growth.
One of the key areas of concern highlighted by FINER is the lack of infrastructure development in the region. Despite the policy’s provisions for infrastructure development, including roads, power supply, and connectivity, many areas in the Northeast continue to face challenges in terms of inadequate infrastructure. This, according to FINER, has led to difficulties for industries operating in the region and has deterred potential investors.
Additionally, FINER has pointed out issues related to the availability of skilled manpower in the Northeast. Despite the policy’s emphasis on skill development and capacity building, there is a perceived shortage of skilled labor in various sectors. This shortage not only affects the productivity and efficiency of existing industries but also acts as a deterrent for new investments.
Some More Concerns
Another concern raised by FINER pertains to the lack of clarity and consistency in the implementation of incentives and subsidies offered under the Northeast Industrial Policy. The organization argues that ambiguous policies and bureaucratic hurdles have created uncertainty among investors and hindered the smooth functioning of industries in the region.
In light of these concerns, FINER has called for urgent measures to address the gaps in the Northeast Industrial Policy. The organization has urged policymakers to undertake a comprehensive review of the policy framework and take necessary steps to streamline its implementation.
Furthermore, FINER has stressed the importance of enhancing collaboration between the government, industry stakeholders, and local communities to ensure holistic and sustainable industrial development in the Northeast. By addressing the identified gaps and fostering a conducive environment for investment, the region can unlock its full economic potential and emerge as a thriving industrial hub.