Northeast Trade and Investment Roadshow in Kolkata to promote Investment

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MDoNER
MDoNER

IndianBureucracy, Kolkata, February 21, 2024: In a bid to promote investment in the North East Region, the Ministry of Development of the North Eastern Region (MDoNER) organised the North East Trade and Investment Roadshow in Kolkata on February 19, 2024. The event was attended by Shri B L Verma, Minister of State, Ministry of Development of North Eastern Region and senior government officials from the Ministry and the States from the North East.

Shri Verma highlighed on changes in connectivity in the region and increased accessibility through road, railways, airways, and digital means. With 17 operational airports and 20 waterways, the region has promising potential in the sectors in power, connectivity, agriculture, education, health, textiles, sports, and tourism, and invited investors to explore these prospects.

image00204Y4In addressing the audience, Minister Shri B.L. Verma, emphasised on the transformative changes in prioritising border villages in the North East. He introduced the concept of ‘vibrant villages,’ highlighting regular visits by ministers and senior officials from the center to enhance their socio-cultural structure, considering tourism and geographical advantages. Prime Minister Shri Narendra Modi Ji also invited Sarpanchs of these gram panchayats on 26th January this year.

Secretary of the Ministry of Development of Northeastern Region, Shri Chanchal Kumar, shared the vision of Prime Minister Shri Narendra Modi, positioning the North East as India’s growth engine. He highlighted significant progress, particularly in connectivity, encompassing roads, railways, airways, and digital connectivity. Mr. Kumar emphasized the region’s tourism potential, increased private sector investment in hospitality, and the availability of skilled manpower, especially in the IT sector. He encouraged investors to seize the first-mover advantage.

Joint Secretary of the Ministry of Development of Northeastern Region, Ms. Anuradha S. Chagti, underscored the region’s favourable land-to-population ratio, rich biodiversity, and infrastructure enhancements. She highlighted the PMDevINE scheme and emphasized the region’s abundant fossil fuel reservoirs, dynamic workforce, and strategic proximity to Southeast Asia. Ms. Chagti outlined key sectors for potential investments, including Agriculture and Allied, Education and Skill Development, and Entertainment and Sports.

Government officials from the State governments of the North East, NEDFi, FICCI (Industry Partner), and Invest India (Investment Facilitation Partner) provided valuable insights into critical sectors. Each North Eastern state made presentations showcasing investment opportunities. Over 600 prominent companies actively engaged in the investor roadshow, reflecting keen interest in the region’s prospects.

The North East region, strategically located with access to ASEAN economies, offers lucrative opportunities for businesses. Government incentives, including tax holidays and subsidies, further promote business growth. Rapid infrastructure development, establishment of technology hubs, and industrial parks expand potential for businesses and attract investors. Key sectors in the region, such as healthcare, agriculture, education, IT, and sports, present numerous opportunities for exploration.

The healthcare industry holds immense potential, attracting international medical tourists. The availability of skilled manpower makes agriculture and food processing investment favourable. The higher education sector offers opportunities for skill development centres, universities, and technical institutions. Government policies and incentives, including tax exemptions, benefit the IT sector. Focus on sports infrastructure and training facilities promotes investment opportunities in the sports sector.

The Northeast region’s advancements play a crucial role in India’s pursuit of a five trillion-dollar economy. The government actively invests in capacity building, and the Northeast Investors Summit aims to attract investments and stimulate economic growth. Roundtable discussions with states such as Assam, Tripura, Mizoram, Meghalaya, Sikkim, and Nagaland have been conducted as part of the Summit, generating interest from potential investors. The Kolkata Roadshow, part of this transformative initiative, witnessed significant B2G meetings and potential interest from investors across North Eastern States.

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