Govt eyes ₹2.5 trillion proposed investment in North eastern region ahead of summit: Scindia
New Delhi: The ministry responsible for the development of the North-east is expecting a promised investment of at least ₹ 2.5 trillion ahead of an important regional summit, Union minister of communications and development of North-eastern region Jyotiraditya Scindia on Wednesday.
The 'Rising Northeast Summit' is set to be held on on 23-24 May, with the aim to develop various industries in the eight North-eastern states.
The ministry had received ₹ 1.12 trillion as proposed investment as of Wednesday, said Scindia. It plans to secure the remainder from major state-run firms as well as leading private sector companies including Reliance, Tata Sons, Birla, Ambuja Neotia, ITC and the Adani Group.
The focus sectors for investment include energy, agriculture and allied industries, tourism and hospitality, infrastructure and logistics, textiles, handloom and handicrafts, IT and ITeS, education and skill, healthcare, and entertainment and sports.
"We'll be hand-holding the investors and the state government to convert these commitments into reality," said Scindia during the curtain raiser for Rising Northeast 2025 on Wednesday. 'Post 24 May, our job will be to make sure that we start seeing conversions happen.'
Scindia said the eight states in the North-east—Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura—were showing growth rates which have been double that of India for the last decade, making them a high-return opportunity for investment.
The government has received a total of 732 investment proposals worth ₹ 1.12 trillion, including 77 in Arunachal Pradesh worth ₹ 24,338 crore, 106 in Assam ( ₹ 38,685 crore), 39 in Manipur ( ₹ 2,919 crore), 110 in Meghalaya ( ₹ 14,753 crore), 75 in Mizoram ( ₹ 5,111 crore), 82 in Nagaland ( ₹ 8,671 crore), 110 in Sikkim ( ₹ 6,747 crore), and 132 in Tripura (worth ₹ 11,755 crore), the minister told reporters.
Interactions were held with major industrialists and corporate groups including Reliance, Tata Sons, Birla, Ambuja Neotia, ITC and Adani Group, secretary of the ministry of development of North-eastern states Chanchal Kumar said. It is expected that in the run-up to the summit, additional investment commitments of nearly of ₹ 80,000 crore can be proposed by the top 10 corporate groups, he added.
The summit is the culmination of the investment promotion activities undertaken by ministry of development of North- eastern region (MDoNER) in association with all the eight states for over a year. The two-day summit will be held at Bharat Mandapam, New Delhi during which 11 ministerial sessions will be held.
Scindia himself has conducted nine roadshows across the country to attract investment for the North-east. In April this year, Scindia also met with French industrialists to secure investments, he said. The meeting was led by the French ambassador and Scindia.
"There are already a lot of French investors that are invested today in the North-east. And they are looking to increase their investment," said Scindia. "There is a lot of interest from sectors such as dairy, agriculture, aviation, and IT from the French investors as well," he added.
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