The Indian Chamber of Commerce (ICC) on Friday decried withdrawal of fiscal incentives given to the north eastern states under North East Industrial and Investment Policy 2007.
A statement issued by ICC said the quantum of excise duty exemption had been drastically curtailed by the Centre through a notification dated March 27, 2008.
The chamber said this act would not only deprive the industries, but would also give wrong signals to potential investors.
ICC added that there was a requirement for need-based fair policy which would address the objective of attracting investments in the north east region.
The chamber has urged the Centre to withdraw the notification with immediate effect.