Stage is set for northeast Indian states to rise with Rs 4.3 lakh crore investment proposals
This is the first investment summit organised on this scale since the inception of the Ministry of the Department of North Eastern Region (MDoNER).
Industry leaders, including Mukesh Ambani, Chairman of Reliance Industries, Gautam Adani, Chairperson of Adani Group, and Anil Agarwal, Chairman of Vedanta, collectively announced investments worth more than Rs 155,000 crore to explore opportunities in the region during the event's inauguration ceremony, on Friday morning, in presence of Prime Minister Narendra Modi.
According to a statement from MDoNER, Mukesh Ambani pledged Rs 75,000 crore over the next five years, targeting agriculture, telecommunications, digital services, and local enterprise development.
Gautam Adani announced an additional Rs 50,000 crore investment over the next decade, and Anil Agarwal announced more than Rs 30,000 crore investment in the northeast Indian states.
'I reaffirm our promise: every MoU, every proposal discussed here will be pursued relentlessly. The Northeast Region, our NER, now embarks on a journey of New Economic Revolution, a New Economic Revival -- where it will emerge as India's International Gateway to Southeast Asia,' said the Union Minister of DoNER, Jyotiraditya Scindia, in his concluding remarks on Saturday afternoon.
The investment summit hosted ministerial sessions, Business-to-Government sessions, Business-to-Business meetings, startups, and exhibitions of policy and related initiatives taken by state governments and central ministries for investment promotion.
The two-day Summit is the culmination of various pre-summit activities, such as a series of roadshows and states' roundtables, including the Ambassador's Meet and the Bilateral Chambers Meet, organised by the central government with active support from the state governments of the northeastern region. The pre-summit roadshows were held in Mumbai, Bengaluru, Ahmedabad, Chennai, Hyderabad, Kolkata, Guwahati, and New Delhi, among others.
In the inaugural ceremony of the summit held on Friday, the Prime Minister highlighted that over the past decade, Rs 21,000 crore has been invested in the Northeast's education sector. He noted key developments, including the establishment of over 800 new schools, the region's first AIIMS, nine new medical colleges, and two new IIITs. The Prime Minister assured that the Northeast now offers top-tier talent across various sectors, encouraging industries and investors to leverage the region's immense potential.
The prime minister noted that a whole new sky of possibilities is opening up for the northeastern states. He also cited a few initiatives taken by his government to improve trade linkages with neighbouring countries.
'In the coming decade, the trade potential of the Northeast is set to grow manifold,' PM Modi had said.
Noting that the trade volume between Indian and ASEAN countries is around USD 125 billion, the prime minister said it will surpass USD 200 billion in the next decade, and the Northeast will become a strong bridge for this trade.
Once fully operational, the India-Myanmar-Thailand Trilateral Highway will establish direct connectivity to Thailand through Myanmar. This will ease India's connectivity with countries like Thailand, Vietnam, and Laos.
'Our government is also working swiftly to complete the Kaladan Multimodal Transit Project, which will connect the Kolkata Port to Sittwe Port in Myanmar, and further link the rest of the Northeast via Mizoram. This will significantly reduce the distance between West Bengal and Mizoram and prove to be a major boon for industry and trade,' PM Modi said.
The northeast region's GSDP at current prices is Rs 9.26 lakh crore in 2023-24. GSDP of NER states grew at a CAGR of 10.8 per cent, from 2014-15 to 2021-22 (against the national average of 8.1 per cent). (ANI)
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