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Home Ministry Evaluating 41 Investment Proposals For Development Of Lakshadweep, Andaman & Nicobar Islands
Amit Shah
In a big push for investments in the Lakshadweep and Andaman and Nicobar (A&N) Islands, the Union Ministry of Home Affairs (MHA) is vetting 41 proposals of projects from various sectors including road construction, hospitality and industries, reports Economic Times.
The proposed projects for the strategically located Union Territories (UTs) include those from Indian Hotels-owned Taj Exotica, RDS Road Construction, Arun Hospital, Hadwet Resorts, and Andaman Cold Chain and several others.
The proposals are being vetted under the Lakshadweep, Andaman & Nicobar Island Development Scheme (LANIDS) which was launched by the Government in January 2019 to incentivise the setting up of micro, small and medium enterprises (MSMEs) in the UTs.
The scheme designed by the Department for Promotion of Industry and Internal Trade (DPIIT) provides incentives on liabilities accrued up to 25 March 2025 for the units registered till 31 March 2021. These include capital investment, interest subsidy, GST, income-tax reimbursement, transport and employment benefits.
It should be noted that A&N Islands sit at the mouth of the Malacca Straits, which is the world's busiest maritime trade route.
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