Kolkata: The Ministry of Development of the North Eastern Region (MDoNER) orchestrated a successful North East Trade and Investment Roadshow in Kolkata today, capturing considerable attention and drawing a significant number of participants. The event, graced by the Minister of State for the Ministry of Development of North Eastern Region, B.L. Verma, and senior government officials, commenced on a highly positive and promising note.
In his address to the gathering, B.L. Verma highlighted the notable developments witnessed by the North East Region over the past nine years. He emphasized the region’s potential to become an upcoming investment hub across various sectors, presenting substantial opportunities for trade and commerce. Verma revealed that Prime Minister Narendra Modi had named the region ‘Ashtalakshmi’ as a testament to his commitment to advancing its development.
Connectivity in the North East has undergone a revolutionary change, with states now connected by road, railways, airways, and digitally, making connectivity more accessible with 17 operational airports and 20 waterways, Verma noted. He urged investors to explore the immense opportunities in sectors such as power, connectivity, agriculture, education, health, textiles, sports, and tourism.
Verma highlighted the shift in prioritizing border villages in the North East, emphasizing the concept of ‘vibrant villages.’ These villages are regularly visited by ministers and senior officials, contributing to their socio-cultural development. The Minister added that Prime Minister Narendra Modi invited Sarpanches of gram panchayats from these villages on January 26 this year.
Chanchal Kumar, Secretary of the Ministry of Development of Northeastern Region, underscored Prime Minister Narendra Modi’s vision, stating that the North East is the growth engine of India. He emphasized the remarkable progress in the region, with connectivity being a major force driving development. Kumar highlighted the increased tourism potential and private sector investments in the hospitality sector. He urged investors to seize the first-mover advantage in the region.
Anuradha S. Chagti, Joint Secretary of the Ministry of Development of Northeastern Region, emphasized the region’s favorable land-to-population ratio, rich biodiversity, and infrastructure enhancement. She outlined key sectors for potential investments, including Agriculture and Allied, Education and Skill Development, and Entertainment and Sports, among others.
Government officials from the State governments of the North East, NEDFi, FICCI (Industry Partner), and Invest India (Investment Facilitation Partner) delivered valuable insights to investors. The event saw active participation from 600+ prominent companies actively engaged in the investor roadshow.
The North East region, with convenient access to ASEAN economies, offers lucrative prospects for businesses. To encourage business growth, the government has provided a comprehensive array of incentives, including tax holidays, subsidies, and reimbursements. The region is also witnessing rapid infrastructure development, expanding the potential for businesses and attracting investors. Various key sectors in the region present a plethora of opportunities for investors to explore.
The healthcare industry in North East India holds immense potential to attract international medical tourists, while the region’s skilled manpower makes investment favorable in the agriculture and food processing sector. The IT sector continues to benefit from advantageous government policies, attracting companies to establish their operations in the region. The Northeast region plays a crucial role in India’s pursuit of a five trillion-dollar economy, and the MDoNER’s Northeast Investors Summit aims to attract investments and stimulate economic growth in the region.