OCTOBER, 20229credit, high cost of operation, erratic power supply, lack of infrastructure, transportation, communication and inadequate market linkage were some of the problems hampering the growth of business in the region. The government is taking best efforts from its part to promote industrialization the region. The Industrial Policy that was announced earlier for North East India, consists of various policies for supporting infrastructure development, provide transport subsidy and Fiscal Incentives to new industrial units and their substantial expansion. Adding to the facts, various initiatives were launched by the central government in the NE region for skill development, entrepreneurship development, technology & incubation and venture funds for start-ups, which are aimed at accelerating the development of business ecosystem in the region. In the recent past and present times, a plethora of stakeholders in the Start-up eco-system such as incubators, accelerators and other venture funds have emerged in the North Eastern Region (NER), leading to a large number of Start-ups.Brilliant MindsetAs per to the date of 31st January, 2022, Department for Promotion of Industry and Internal Trade (DPIIT) has recognized 674 Start-ups from States of NER comprising of numbers in states which include -Arunachal Pradesh (8), Assam (499), Manipur (68), Meghalaya (17), Mizoram (6), Nagaland (21), Sikkim (8), and Tripura (47).Besides, North East Development Finance Corporation Ltd. has released a total of Rs. 41.14 crore to 22 Start-ups till date through North East Venture Fund (NEVF) and a total of 36 proposals have received in principle commitment of Rs. 74.76 crore.The North East India is further searching for the development of the states with inclusion of heritage businesses and not withstanding with technology that are harmful from the previous ages as well and contributing to the unearthing facts that causes harm. However, the states are welcoming startups with businesses from old traditions which include no technology. The states offer unique treasures of the rich region which include the world's best turmeric, potent ginger powder, several varieties of raw honey, whole spices, ground spices & a few spice blends
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