Efficient policy must for industrial development: Nemcha
Source: Chronicle News Service / DIPR

Imphal, May 19 2022: Textiles, Commerce and Industries minister Nemcha Kipgen has stressed that an efficient industrial and investment policy is the need of the hour to attract investors and to spur robust economic activity for industrial development in Manipur.

Speaking as the chief guest of the "One day workshop on Framing of Industrial and Investment Promotion Policy (IIPPM)-2O22" held at the conference hall of Institute of Cooperative Man agement (ICM), Lamphelpat here on Thursday, Nemcha expressed gratitude to CM N Biren for entrusting her with the responsibility to make Manipur, a hub for India's future trade and commerce with neighbouring states and countries, and South East Asia, as Manipur is India's Gateway to South-East Asia.

Nemcha informed that at present, there are 34,293 units of Micro, Small and Medium Enterprises (MSME) compared to only 1,085 units in the year 2015 .

This clearly shows that Manipur is marching ahead in the field of industrialisation, she asserted.

At this juncture, there is the need to frame an up-to-date industrial policy for entrepreneurs, which would include numerous incentives to act as support to entrepreneurs and provisions of administrative support as well.

The current Industrial Policy was implemented in 1996, but many stakeholders have conveyed their strong dissatisfaction with the same.

However, the new policy would provide long-term support to entrepreneurs and traders, she added.

It may be mentioned here that Industrial and Investment Promotion Policy (IIP-PM)-2022 has been formulated to strengthen the state government's mission to act as facilitator to accelerate industrial development and its allied sectors in Manipur through development of infrastructure, enhancement of human resource, provision of incentives, garnering of more investments amongst others for the inclusive socio-economic development of the people of the state.

The minister further stressed the need for allocation of funds in the department's budget for capital investment subsidy or for the state finance department to take on the responsibility after vetting the above.

She then sought cooperation, valuable suggestions and ideas from the stakeholders concerned for successful framing of IIPPM-2022, and to further accelerate economic growth in Manipur through proper linkages of infrastructure, human resource and administrative support mechanism.

Secretary (Textiles, Commerce & Industry) Michael Achom and director Yumnam Robita also attended the programme as guest of honour and president respectively.

The workshop was also attended by officers, officials and stakeholders concerned from various industrial sectors.

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