Chief Minister Kalikho Pul today addressed the second meeting of Eastern Regional Council here organised by the Confederation of Indian Industry (CII) and asserted that the state government is dedicatedly working on creating a brand image for Arunachal to be known as a state that delivers.
He informed that state government has undertaken several policy measures and incentives for attracting investors into the state that aims at a liberalized State Industrial Policy to make investment in the state a high yielding proposition.
These include subsidies and incentives on cost of infrastructure, transport, training, power, import of equipment, etc. – offering opportunity for newer business ventures. The Policy seeks to utilise fully the forest resources, minerals and other natural resources of the State for its industrial development, said the Chief Minister.
Speaking on the policy initiatives on boosting investment climate in the state, the CM said that the state government has put into place a single window system for all statutory approvals and clearances through a State Level Industrial Empowered Committee, which comprises the Chief Secretary, concerned Secretaries and representatives from banking and financial Institutions.
The Chief Minister also assured that the state government would offer specific tax benefits whereby State and local duties and entry taxes would be waived off. Also he assured that wherever land is needed, the government will acquire it with the least obstacle to investors.
Additionally, power subsidy will also be given according to the provisions of the North East Industrial and Investment Promotion Policy (NEIIPP), 2007 along with other exemptions and subsidies, said the CM.
Further assuring administrative support, the Chief Minister said that today Arunachal has a dependable administrative support for investors and there is a defined and definite political will, and foremost there is peace and security in the state, assuring that security is accorded highest priority.
Admitting that though Arunachal has low baselines of development, the Chief Minister said that such scenario provides with immense potential for thinking big in terms of pledging investments and for accelerated economic activities in the state.
Speaking on investment ready sectors, the CM said that the state has bright prospects for infrastructure development, agro-processing and horticulture, non-timber based industries including bamboo processing and cane, medicinal and aromatic plants, etc.
Similarly, there are also tremendous prospects for investments in hydropower, tourism and related infrastructure development, healthcare, education, information technology, electronics and IT based industries, skill development, engineering and allied industries and mineral based industries, said the CM.
He further said that with rapid strides in every field, Arunachal has become one of the fastest growing States in the country. In January 2014, for instance, Arunachal Pradesh topped the list of states in terms of total fresh investment, in all attracting 11 new projects with an aggregate investment of Rs 4,953 crores, said the CM.
Reiterating the shared objective of converting potential into prosperity, the Chief Minister said that the state government looks forward to an engagement with the CII and the industry on a long-term, opportunity driven.
“We have always accepted CII as the voice of the industry. I stand here to say that the Government of Arunachal Pradesh sincerely looks forward to working shoulder to shoulder with the Confederation towards the overall growth and development of the State,” said the CM.