North East Industrial Development Scheme NEIDS-2017 for giving incentives to the industrial units of the Region

The Government of India has announce North East Industrial Development Scheme, NEIDS-2017 for industrial units in the North Eastern Region comprising States of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura to boost industrialization.

North East Industrial Development Scheme NEIDS-2017

NEIDS-2017 will be effective from 01.04.2017 and will remain in force up to 31.03.2022

Under the scheme, the eligible industrial units shall get incentives which would be limited to the total investment in plant and machinery subject to a maximum limit of Rs.200.00 crore per unit.

The following incentives will be provided to eligible industrial units on reimbursement basis:

1. Central Capital Investment Incentive for access to credit (CCIIAC)
2. Central Interest Incentive(CII)
3. Central Comprehensive Insurance Incentive (CCII)
4. Goods and Services Tax (GST) Reimbursement
5. Income Tax (IT) Reimbursement
6. Transport Incentive(TI); and
7. Employment Incentive (EI)

All new industrial units in manufacturing sector and services sector including Bio-technology and Hydel Power Generation Units upto 10 MW located in NER, will be eligible for incentives under the scheme.

There will be an Empowered Committee chaired by Secretary, Department of Industrial Policy and Promotion with Secretaries of Ministry of Development of North Eastern Region, D/o Expenditure, representative of NITI Aayog and Secretary of the concerned Ministries/Departments of Government of India dealing with the subject matter of that industry as its members as also the concerned Chief Secretary/Secretary (Industry) of the NER State where the beneficiary unit claiming incentive is located for selection of beneficiaries under the scheme. While examining the proposals for incentive, due consideration will be given to factors like cost disadvantage, project viability, bankability, employment generation and promoters’ risk capital. Preference will also be given to eligible industrial units under the Micro, Small and Medium Enterprises (MSME).

The Scheme requires that all eligible industrial units would have to register under the Scheme with Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Govt. of India, through the portal prior to being eligible for any benefit under this scheme. In this regard, an online application process shall be developed under which the applicants have to submit applications along with the DPR.

Download NEIDS-2017 Click Here >>