NORTH EAST INDUSTRIAL PROMOTION POLICY 2007
The Government of India has approved a package of fiscal incentives and other concessions for the North East Region namely the “North East Industrial and Investment Promotion Policy (NEIIPP), 2007, effective from 1.4.2007”, which, inter-alia, envisages the following:
(i) Coverage: The North East Industrial Policy (NEIP), 1997 announced on 24.12.1997 covered the States of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland and Tripura. Under NEIIPP, 2007, Sikkim will also be included. Consequently, the “New Industrial Policy” and other concessions for the State of Sikkim announced vide O.M. No.14(2)/2002-SPS dated 23.12.2002 and the Schemes there under i.e. Central Capital Investment Subsidy Scheme, 2002, Central Interest Subsidy Scheme, 2002 and Central Comprehensive Insurance Scheme, 2002, notified vide Notifications No. F.No.14(2)/2002-SPS dated the 24.12.2002 will be discontinued from 1.4.2007.
(ii) Duration: All new units as well as existing units which go in for substantial expansion, unless otherwise specified and which commence commercial production within the 10 year period from the date of notification of NEIIPP, 2007 will be eligible for incentives for a period of ten years from the date of commencement of commercial production.