The Centre has greenlit the Uttar Poorva Transformative Industrialization Scheme, 2024, with a substantial budget of Rs 10,037 crore to the Northeast.
Designed to foster industrial growth and employment opportunities across the region, the scheme aims to ignite productive economic activities in both manufacturing and services sectors.
Dubbed as UNNATI (Uttar Poorva Transformative Industrialization), the scheme’s primary objective is to catalyse gainful employment in the region and it will be operational from the date of notification until March 31, 2034.
With a financial expenditure of Rs 10,037 crore spanning a decade, the scheme is structured as a Central Sector Scheme, with two distinct parts – Part A dedicated to offering incentives to eligible units (Rs 9,737 crore) and Part B allocated for implementation and institutional arrangements (Rs 300 crore).
UNNATI anticipates receiving approximately 2,180 applications, potentially generating around 83,000 direct employment opportunities throughout the scheme’s duration, alongside a significant number of indirect job opportunities.
The Department for Promotion of Industry and Internal Trade (DPIIT), in collaboration with state governments, will oversee the scheme’s implementation.
National and state-level committees, including the Steering Committee and State Level Committee, will monitor progress, ensure transparency, and facilitate the registration and incentives claiming process.
This newly introduced industrial development scheme aims at fostering sustainable development by striking a balance between industrial growth and environmental conservation.
Notably, industries such as renewable energy and electric vehicle (EV) charging stations have been prioritised in the scheme’s positive list, while others like cement and plastic are on the negative list due to environmental concerns.
