Prior to the Government of India enacting the “Micro, Small and Medium Enterprise Development Act”, the focus of the Department was mostly to help the local entrepreneurs establish their own enterprise. In the above mention Act, the Government of India, defined the word ‘Enterprise’ instead of the word ‘Industry’ so as to incorporate the service sector as well under its purview and to give due recognition.
Enterprises were categorized according to the investment made in plant and machinery for manufacturing enterprises and in case of service sector, investment made in equipment. But this categorization was applicable to only those sector which started its operation since the 2nd day of October, 2006.
North East Industrial and Investment Promotion Policy (NEIIP), 2007.
The Government of India approved a package of fiscal incentives and other concessions for the North- Eastern region including Sikkim namely, ‘ The North East Industrial and Investment Promotion Policy (NEIIP), 2007’, effective from 1st April, 2007, which envisages large number of incentives/ subsidies viz., Excise Duty exemption, Income Tax exemption, Capital Investment Subsidy, Interest Subsidy, etc.
Growth Centre
The Ministry of Commerce & Industry, Government of India approved the establishment of Growth Centre at Samlik- Marchak and Namli in East Sikkim with both the State and the Central Government contributing towards it development. The basic infrastructural facilities are being developed by various departments of the State Government like the Energy and Power Department, Roads and Bridges Department and the Water Supply & Public Health Engineering Department, these department have taken up construction of boundary pillars and road, electrification and supply of drinking water under the supervision of the Department of Commerce & Industries. The basic need for establishment of such Growth Centre is to jet investors to invest and develop Sikkim into an investors’ friendly state which would eventually lead to economic development and prosperity.
The growth centre area has been divided into plots and has been allotted to various agencies for establishment of industrial units through a lease deed drawn between the Department and the agencies