Dimapur, January 22 (MExN): The North-Eastern region has huge untapped economic potential and the challenge is to convert possibilities into success stories, Minister for DoNER BK Handique has said. He was speaking at the inaugural session of the 6th North-East Business Summit in Mumbai today. The 2-day Summit has been organized jointly by the Ministry of Development of the North-Eastern Region (DoNER) and Indian Chamber of Commerce.
Handique said that the North-East has huge opportunities in strategic sectors such as tourism, agriculture and food processing, organic farming and spices among many others. Adding that about 2/3 of India’s total bamboo reserves is in the NE, the minister said rare flora and fauna, medicinal plants and herbs can create unique business opportunities for the corporate sector. The minister said that the region’s proximity to South and South-East Asian nations can turn it into an international trade hub. Big projects like Kaladan Multimodal Transport project can create stronger bridges of economic and trade cooperation between India and her Asian neighbors, with the North-east acting as the gateway, Handique said.
Highlighting the tremendous economic opportunities that Nagaland has to offer, Chief Minister of Nagaland Neiphiu Rio said at the inaugural that the state offers great scope in sectors such as agriculture and food processing SEZs, tourism and hospitality, medicinal and aromatic plants. He said that the Nagaland government is committed to rapid and sustained industrial development in the state through enhanced investment, provision of infrastructure, and investor-friendly environment.
Deputy Chief Minister of Meghalaya BM Lanong, in his address, said Meghalaya has huge mineral reserves, and sectors such as cement, power, and coal have high growth potential in the state. IT & ITeS is another sector which can take the state to a higher growth trajectory, he commented, and said that NASSCOM has tied up with state government to build IT infrastructure in the state. Saying that an IIM is present in Shillong, the Deputy CM said health and education offer significant growth opportunities in the state.
In his welcome address Shrivardhan Goenka, Senior Vice President of the Indian Chamber of Commerce said that blessed with abundance of natural resources like bamboo, tea, rice and fruits, the North-Eastern states promise a paradise for the intrepid entrepreneur, with 100 % Foreign Direct Investment (FDI) opportunities on offer in power generation, roads, airports, horticulture and tourism. He said that enabling economic policies for turning the North-East into a prominent investment destination are in place, and the government and the industry need to partner each other effectively to foster sound implementation of policies and programs. The Vision 2020 rightly emphasizes that connectivity and infrastructure development is the cornerstone of development in the region, Roy added.
Also, MK Saharia, chairman of ICC’s North-East Initiative in his speech informed the delegates and dignitaries, how, over the years, the North-east business summits have played a major role in raising issues of strategic importance, and addressing them suitably. He congratulated the North-East state governments for their pro-activeness in promoting and facilitating business and commerce, and hoped that the North-East would be able to catch up with the rest of the country by 2020, and contribute to its affluence by becoming a prosperous part of India. He said that the North-East today is a safe haven for investments, and according to National Crime Bureau statistics, some of the NE states are safer than many other states in India.
The ICC released 3 reports: Powering Infrastructure Growth in North-East, Capacity Development and Skill Up-gradation in NER, and Horticulture in North-East India. The reports are “actionable agenda papers” undertaken by Yes Bank, ICC’s Knowledge Partner in the summit. The knowledge reports would assist policy-makers and act as reference documents for all stakeholders. The Reports, which touch upon very important topics related to the overall progress of the North-East, can be looked upon as Vision Documents which lay down a possible future roadmap for the region in the years to come.
The 6th North-East Business Summit, is expected to be one of the largest ever conferences-exhibitions in the North-Eastern part of the country. The ICC is committed to promote awareness of this region and the 6th summit will be an endeavor to ensure that Corporate India in the country’s financial capital sits up and takes notice of the North-East. That way, the ICC stated, the region can reach a significantly higher growth trajectory in the near future in sync with the policy recommendations laid down in the Vision 2020 document.
Handique said that the North-East has huge opportunities in strategic sectors such as tourism, agriculture and food processing, organic farming and spices among many others. Adding that about 2/3 of India’s total bamboo reserves is in the NE, the minister said rare flora and fauna, medicinal plants and herbs can create unique business opportunities for the corporate sector. The minister said that the region’s proximity to South and South-East Asian nations can turn it into an international trade hub. Big projects like Kaladan Multimodal Transport project can create stronger bridges of economic and trade cooperation between India and her Asian neighbors, with the North-east acting as the gateway, Handique said.
Highlighting the tremendous economic opportunities that Nagaland has to offer, Chief Minister of Nagaland Neiphiu Rio said at the inaugural that the state offers great scope in sectors such as agriculture and food processing SEZs, tourism and hospitality, medicinal and aromatic plants. He said that the Nagaland government is committed to rapid and sustained industrial development in the state through enhanced investment, provision of infrastructure, and investor-friendly environment.
Deputy Chief Minister of Meghalaya BM Lanong, in his address, said Meghalaya has huge mineral reserves, and sectors such as cement, power, and coal have high growth potential in the state. IT & ITeS is another sector which can take the state to a higher growth trajectory, he commented, and said that NASSCOM has tied up with state government to build IT infrastructure in the state. Saying that an IIM is present in Shillong, the Deputy CM said health and education offer significant growth opportunities in the state.
In his welcome address Shrivardhan Goenka, Senior Vice President of the Indian Chamber of Commerce said that blessed with abundance of natural resources like bamboo, tea, rice and fruits, the North-Eastern states promise a paradise for the intrepid entrepreneur, with 100 % Foreign Direct Investment (FDI) opportunities on offer in power generation, roads, airports, horticulture and tourism. He said that enabling economic policies for turning the North-East into a prominent investment destination are in place, and the government and the industry need to partner each other effectively to foster sound implementation of policies and programs. The Vision 2020 rightly emphasizes that connectivity and infrastructure development is the cornerstone of development in the region, Roy added.
Also, MK Saharia, chairman of ICC’s North-East Initiative in his speech informed the delegates and dignitaries, how, over the years, the North-east business summits have played a major role in raising issues of strategic importance, and addressing them suitably. He congratulated the North-East state governments for their pro-activeness in promoting and facilitating business and commerce, and hoped that the North-East would be able to catch up with the rest of the country by 2020, and contribute to its affluence by becoming a prosperous part of India. He said that the North-East today is a safe haven for investments, and according to National Crime Bureau statistics, some of the NE states are safer than many other states in India.
The ICC released 3 reports: Powering Infrastructure Growth in North-East, Capacity Development and Skill Up-gradation in NER, and Horticulture in North-East India. The reports are “actionable agenda papers” undertaken by Yes Bank, ICC’s Knowledge Partner in the summit. The knowledge reports would assist policy-makers and act as reference documents for all stakeholders. The Reports, which touch upon very important topics related to the overall progress of the North-East, can be looked upon as Vision Documents which lay down a possible future roadmap for the region in the years to come.
The 6th North-East Business Summit, is expected to be one of the largest ever conferences-exhibitions in the North-Eastern part of the country. The ICC is committed to promote awareness of this region and the 6th summit will be an endeavor to ensure that Corporate India in the country’s financial capital sits up and takes notice of the North-East. That way, the ICC stated, the region can reach a significantly higher growth trajectory in the near future in sync with the policy recommendations laid down in the Vision 2020 document.
