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GOVERNMENT TO SET UP NID AT JORHAT
HUGE INFRASTRUCTURE SECTOR INVESTMENTS IN N-EAST: ANAND SHARMA
Date : 22 May 2010
Location : New Delhi
Sharma informed that the Tipaimukh Hydro Electric Project is being constructed at a cost of Rs. 6000 crores and Loktat Downstream project at a cost of Rs. 8000 crores, Palatana Gas based Power Plant with an investment of over Rs. 3000 crores and a Thermal Power Plan at Bongaigaon, with an investment of Rs. 4375 crores. The Kumarghat-Agartala railway line will have a transformational impact on the economy of North East as will Jiribam-Tupu-Imphal railway line. He was addressing the North-East Trade and Industry Ministers Conclave here today. Shri Pradyut Bordoloi, the Assam Industry and Commerce Minister, trade Ministers from North Eastern states, senior officials from the Govt of India and state governments were also present on the occassion.
As regards the tea sector promotion in the north east, Shri Sharma informed that during the Eleventh Plan, an outlay of Rs.230 crores has been earmarked with the Tea Board for providing assistance for modernization of plant and value addition of tea gardens in the North-Eastern states. He further informed that under the Foreign Trade Policy, Assam tea was given special fiscal incentives of 3.5% of the value of export under the Vishesh Krishi Gram Udyog Yojana which entailed a net benefit of Rs.150 crores for tea exports. As a direct result of these measures, the tea exports demonstrated buoyancy during the last financial year.
Referring to the Northeastern Industrial Investment and Promotion Policy, 2007, Shri Sharma said that the Government has considerably expanded the scope of incentives for investments available in the North-Eastern States. He observed that a mix of fiscal measures such as tax incentives and fiscal subsidies has created a conducive environment for accelerating the industrial development of this region.
Highlighting the strategic importance of India-ASEAN Trade in Goods Agreement which has become operational from 1st January this year, the Minister stated that this Agreement holds the potential for transforming the economy of the North-Eastern Region and is opening a floodgate of opportunities for flourishing trade with the neighbouring countries. It is a fact that the formal border trade across the North East is less than 1% of India’s exports. The informal trade across the borders in Manipur, Mizoram and Assam is far higher than what gets registered through the formal trade channels. The Government is aware of these challenges and is making conscious efforts to create robust border trade infrastructure. On 6th May, the Joint Working Group Meeting was held between India and Bangladesh and India has agreed to sign a MoU for establishment of border haats to be managed by local haat management committees. The Government has proposed to spend $125 million for establishment of 14 Land Custom Stations with Bangladesh. Phulbari Land Custom Station has already become operational. As part of the BIMSTEC initiative, the Government is proposing to enhance regional cooperation to ensure greater connectivity through Bangladesh-Myanmar up to Thailand and the entire ASEAN region. The Kaladan Multimodel Transit-cum-Transport project which envisages investment of Rs. 548 crores would enhance connectivity between India and Myanmar and would link Kolkata and Sittwe, Kaleutwa in Myanmar while passing through Mizoram. It also envisages harnessing of 225 km. waterway on the Kaldan River and construction of ports along with way.
Shri Sharma underlined the importance of preserving the fragile ecosystem of the North eastern Region. He emphasized the need for using eco friendly technologies and said that green industry must be given a high priority in drawing up any strategy for this area. Once the physical infrastructure is in place, the states should collectively work on an integrated tourism circuit. While concluding his address, Shri Sharma said that the the Central Government, the states and the private sector must work in unison in order to ensure that the people of the North Eastern Region feel as much part of the progress as the rest of the world.
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