In a significant move to further boost industrial growth and employment opportunities in the Northeastern region, the Union Cabinet chaired by Prime Minister Narendra Modi yesterday approved the Uttar Poorva Transformative Industrialization Scheme, 2024 (UNNATI – 2024) for a period of 10 years with a budget of Rs 10,037 crore.
It will be effective from the date of notification and will in effect until March 31, 2034, with an additional eight years of committed liabilities.
The primary goal of the UNNATI scheme is to provide stable employment, which will promote the region’s overall socio-economic growth.
Chief Ministers of Northeast have lauded the Centre for approving this visionary scheme and said that it will pave way to further attract investors.
Taking to X, Assam Chief Minister Himanta Biswa Sarma wrote, “The Union Cabinet’s approval to Uttar Poorva Transformative Industrialization Scheme, 2024 (UNNATI) will give a big boost to the region’s industrialisation efforts and generate thousands of job opportunities for our youth.With an outlay of over ₹10,000cr, UNNATI, applicable for 10 years will incentivise industrial houses to set up their units in NE region and be a partner in the growth journey. Gratitude to Hon’ble Prime Minister Shri @narendramodi ji for approving this visionary scheme.”
Meghalaya Chief Minister Conrad Sangma said, “Thank you Hon’ble PM Sh @narendramodi ji for approving the Uttar Poorva Transformative Industrialization Scheme, 2024 (UNNATI – 2024). This is a great initiative and will push the overall economic development and industrial growth in the Northeast region. Northeast region is emerging as an investment destination and the approval of the new industrial policy will pave way to further attract investors. Sh @PiyushGoyal ji this policy will create a turnaround in industrial growth in #Northeast. Appreciate your efforts to further the growth of industrialisation.”
“I am thankful to Hon’ble Union Minister for Commerce and Industry, Shri @PiyushGoyal ji and Hon’ble PM, Shri @narendramodi
ji for the approval of the ₹10,037 crore UNNATI industrialization scheme. This major decision by the Union Cabinet reflects the Central Government’s firm commitment to unlock the potential of Northeast India. The region is set to become a major contributor to India’s growing economy, as envisioned by Hon’ble PM, Shri @narendramodiji,” posted Manipur Chief Minister N Biren Singh on X.
A significant number of indirect employment opportunities are expected to arise and the proposed plan is expected to generate about 83,000 direct employment opportunities.
There will be two sections to the Central Sector Scheme: Part B – institutional arrangements and implementation, would cost Rs 300 crore, while Part A, which will provide incentives to eligible units, will cost Rs 9,737 crore.
The Department for Promotion of Industry and Internal Trade (DPIIT), in collaboration with the states, will supervise the scheme’s implementation. National and state committees, such as the State Level Committee and the Steering Committee, will oversee implementation, guarantee openness, and suggest registration and incentive claims.
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The review meeting was attended by Chief Ministers of Arunachal Pradesh, Manipur and Tripura.
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