Northeast Trade and Investment Roadshow in Kolkata -A positive move to promote investment in the North East Region!
The Ministry of Development of the North Eastern Region (MDoNER) successfully organised the North East Trade and Investment Roadshow in Kolkata today. The event commenced on a highly positive and promising note, capturing significant attention, and attracting a substantial number of participants. The event was graced by the Minister of State, Ministry of Development of North Eastern Region Shri B.L. Verma, and senior government officials from the Ministry of Development of the North Eastern Region(MDoNER) and the States from the North East.
While addressing the gathering, Minister of State for Ministry of Development of Northeastern Region, Shri B.L. Verma,spoke about the developments that the North East Region has witnessed over the past 9 years. He elaborated on how the region is poised to achieve many more milestones as an upcoming investment hub in various sectors that present immense opportunities for trade and commerce. He informed that the Prime Minister Shri Narendra Modi had named the Region as ‘Ashtalakshmi as he aims to advance the development of North East further in terms of growth trajectory.’
Shri Verma mentioned that connectivity in the North East has undergone a revolutionary change, with the states of North East now connected by road, railways, airways, and digitally, making connectivity even more accessible with 17 operational airports and 20 waterways already in operation. The Minister pointed out that there are immense opportunities in the sectors of power, connectivity, agriculture, education, health, textiles sports and tourism etc., to look forward to, and investors must visit to gain an understanding of these opportunities.
He highlighted that the border villages in the North East are now given the utmost priority of the first villages, rather than the erstwhile image of them being considered the last villages of the country. He also emphasized on the coining of the concept of ‘vibrant villages,’ which are regularly visited by the Ministers and the senior officials from the center thus adding to the betterment of their socio cultural structure, considering their tourism and geographical advantages. Shri B.L. Verma added that Prime Minister Shri Narendra Modi Ji had also invited the Sarapanchs of the gram panchayats of these villages on 26th January this year.
Shri Chanchal Kumar, Secretary of the Ministry of Development of Northeastern Region,addressed the gathering and highlighted the vision of thePrime Minister Shri Narendra Modi, stating that the North East is the growth engine of India. He emphasized the remarkable progress in the region, adding that connectivity has been a major force driving this development and will continue to grow, encompassing roads, railways, airways, and digital connectivity. This underscores the government’s successful resolution of connectivity challenges.
He pointed out that tourism potential has increased in the Northeast, with the private sector investing significantly in the hospitality sector. He further highlighted that there is no dearth of skilled manpower in the region, specifically the IT sector and IT-enabled services are special beneficiaries of this skilled workforce. He urged investors to seize the first-mover advantage in the region.
Ms. Anuradha S. Chagti, Joint Secretary of the Ministry of Development of Northeastern Region, highlighted the region’s favourable land-to-population ratio, rich biodiversity, and infrastructure enhancement. She shed light on the considerable investments from Central Ministries, including the Ministry of Development of the North Eastern Region, over the years. Notably, she stressed the PMDevINEscheme, whichis designed to boost infrastructure, social development and livelihood.
She emphasised the region’s rich pool of resources, abundant fossil fuel reservoirs, a dynamic and youthful workforce, which coupled with its strategic proximity to Southeast Asia, is making it an imperative investment hub. In addition, she outlined key sectors for potential investments, including Agriculture and Allied, Education and Skill Development, and Entertainment and Sports etc.
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 regarding the prospects in critical sectors of the Region. Each of the North Eastern states made elaborate and attractive presentations showcasing their investment opportunities. The event saw active participation from investors, industry stakeholders and entrepreneurs.
Showcasing their keen interest in the investment prospects within the region, 600+ prominent companies actively engaged in the investor roadshow.
The North East region presents a strategic location with convenient access to ASEAN economies, offering 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, with the establishment of new technology hubs and industrial parks, thus 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 seeking high-quality healthcare services at affordable rates. The region is renowned for its world-class healthcare facilities and is home to exceptional Ayurvedic and alternative medicine centres. The availability of skilled manpower from state Agriculture universities in Assam, Meghalaya, Nagaland and Tripura also makes investment favourable in the agriculture and food processing sector. North East India offers greater opportunities in the higher education sector as well, with a growing demand for skill development centres, universities, and technical institutions to cater to the region’s and the neighbouring countries’ educational needs.
The IT sector continues to benefit from advantageous government policies and incentives, including tax exemptions, which attract IT companies to establish their operations in the region. The government’s focus on developing sports infrastructure and training facilities further promotes investment opportunities in the sports sector within the region.
The Northeast region plays a crucial role in India’s pursuit of a five trillion-dollar economy, with its advancements being pivotal in achieving this ambitious goal. In alignment with its commitment to fostering sustainable development, the government has been actively investing in capacity building within the region. To add to those efforts, the MDoNER has also undertaken the Northeast Investors Summit as a significant initiative to attract investments and stimulate economic growth in the region.
As part of the Northeast Investor Summit, successful roundtable discussions have been conducted with various states of the region including Assam, Tripura, Mizoram, Meghalaya, Sikkim, and Nagaland. The earlier roadshows held in Mumbai and Hyderabad witnessed encouraging participation, the State Seminar at Vibrant Gujarat garnered keen interest from potential investors. Anticipated as a transformative event, the Kolkata Roadshow witnessed several B2G meetings generating potential interest from investors in the North Eastern States of Assam, Arunachal Pradesh, Tripura, Mizoram, Manipur, Meghalaya, Sikkim, and Nagaland.