Latest news with #RisingNorthEastInvestorSummit
Time of India
23-05-2025
- Business
- Time of India
Yunus counter: Northeast key to India's growth, says PM Modi
NEW DELHI: Days after Muhammad Yunus, chief adviser of the Bangladesh interim govt, said the "landlocked" northeastern part of India faced the prospect of becoming an extension of the Chinese economy, PM Modi on Friday said "confidence is the biggest transformation the region has seen in the last decade" and called it a a prime investment destination and frontrunner of growth. "There was a time when the northeast was seen only as a frontier region - today it is becoming the frontrunner of growth," Modi said. He highlighted growth in sectors such as bamboo, petroleum, solar energy and organic farming, and encouraged investors to seize "first-mover advantage". He was speaking at the inaugural session of 'Rising North East Investor Summit', which saw a combined investment commitment of over Rs 2 lakh crore from industrialists Mukesh Ambani, Gautam Adani and others. Modi: Geography can't be a deterrent to NE's growth During a recent visit to China, Muhammad Yunus had described India's northeastern states - commonly referred to as the 'Seven Sisters' - as "landlocked" and lacking direct access to the ocean. He had said that Bangladesh, the "only guardian of the ocean for the region", could, because of its strategic location, become an extension of the Chinese economy and act as a conduit for Chinese investments into India's NorthEast, as well as Nepal and Bhutan. PM Narendra Modi junked the notion that geography could be a deterrent for NorthEast's growth. He positioned the region at the heart of India's Act East Policy, and said that "the NorthEast will become a strong bridge and gateway for Asean trade". With trade expected to surpass $200 billion, logistics hubs are emerging in Guwahati, Imphal and Agartala. The PM attributed the growing confidence in the region to unprecedented development across sectors - from highways and digital networks to startups and education. Over 11,000km of highways, new railway lines and an expanding air network now connect what was once a relatively isolated region. Projects like Sela Tunnel, Bhupen Hazarika bridge and India-Myanmar-Thailand highway, the PM said, are emblematic of an "infrastructure revolution". "Good infrastructure is not just about roads - it's about trust, safety, and investment confidence," PM Modi emphasised. On security and stability, he noted a historic transformation, saying, "There was a time when the NorthEast was associated with bombs, guns and blockades... Now, it's opportunity, peace, and prosperity." Over 10,000 youth have surrendered arms, and peace accords have strengthened governance in the region. Meanwhile, Reliance Industries chairperson and managing director Mukesh Ambani announced plans to increase the company's total investment in the region to Rs 75,000 crore over the next five years. Adani Group chairperson Gautam Adani followed with a fresh investment announcement of Rs 50,000 crore over the next 10 years, in addition to a Rs 50,000-crore commitment made earlier this year in Assam.
India Gazette
14-05-2025
- Business
- India Gazette
Union Minister Jyotiraditya Scindia chairs curtain raiser event for Rising North East Investor Summit
New Delhi [India], May 14 (ANI): Union Minister of Communications and Minister for Development of North Eastern Region Jyotiraditya Scindia chaired a press meet for the Rising North East Investor Summit on Wednesday, the Ministry of Development of North-East Region said in a press release. Minister of State, Ministry of DoNER - Sukanta Majumdar, Secretary, Ministry of DoNER - Chanchal Kumar, ADG, PIB - Manisha Verma, Statistical Advisor, Ministry of DoNER - Dharmvir Jha, and other senior officials of the Ministry were present at the event. In his address to the media, Union Minister Jyotiraditya Scindia welcomed everyone to the curtain raiser for the North Eastern Investors Summit 2025 and said that the greatest potential for India in the future is our wonderful North Eastern regions. Jyotiraditya Scindia said, 'The event will showcase our wonderful Ashta Lakshmi - our eight states, which stand at the heart of the transformative growth that our country represents.' 'The Prime Minister's resolve, his commitment, his vision, to ensure that the Northeastern region becomes the pivot for the future growth and the future path of India as she advances towards her goal of Vikisit Bharat by 2047,' said the Union Minister. The Minister said whether it is the 10 percent of gross budgetary support (GBS) amounting to almost one lakh crore a year that's been ploughed into the Northeast, whether it's tax devolution, or different arms and the private sector and others taking that leap forward, today the Northeast, which was always considered the periphery of India prior to a decade ago, has become the center of India's growth story. 'North East's cultural tapestry along with the reservoir of natural resources and the strategic geographical positioning of the Northeast, translated the region into the most powerful gateway in the world to Southeast Asia,' he added. The Minister said, 'The last 10 years of committed investment, the last 10 years of the Prime Minister's resolve on infrastructure, on health care, on education, on submarine cable, today has set the platform for that rise of the Northeast into the economic power that it portends to be, not only for India, but for the world.' He added that the North East is not waiting for the future but it is building it. 'I invite all of you to join in witnessing the dawn of this new era for this magnificent region, an era that promises prosperity, not only for the Northeast, but the rest of India, and the rest of Southeast Asia,' said the Union Minister. Scindia informed that Prime Minister Narendra Modi has consented to grace the occasion. The Rising North East investment summit will witness participation from different Ministries of the Government of India, MPs, diplomats, and Chief Ministers of North Eastern States, among others Chanchal Kumar, Secretary MDoNER, presented key investment opportunities spanning all eight Northeastern states during the event. A presentation by Chanchal Kumar highlighted various investor roadshows organised by MDoNER in different Indian cities, including Mumbai, Bengaluru, Ahmedabad, Chennai, Hyderabad, Kolkata, Guwahati, and New Delhi, to promote investment in the NER. MDoNER Secretary informed that the pre-summit activities organised by MDoNER have attracted investment proposals worth more than Rs. 1 lakh crore across all the Northeastern states. In the run-up to the summit, an Ambassadors' Meet was organised in coordination with the Ministry of External Affairs on April 15, 2025 at Sushma Swaraj Bhawan, to give exposure to foreign investors to the region. The event saw unprecedented participation at the level of Ambassadors and High Commissioners of more than 75 countries, showcasing the enormous interest of the missions to explore the region. The purpose is to give a boost to the investment system of north east. Many industry houses, investors have already committed large amount of investment interest. More than one lakh crore MOUs and Letter on Intent have been signed. The Rising North East Investor Summit is the culmination of various pre-summit activities, such as investment roadshows, ambassador meets, bilateral chamber meets, etc., to promote investment in the North East region. The focus sectors of the summit include Tourism and Hospitality, Agro-Food Processing and allied sectors; Textiles, Handloom and Handicrafts, Healthcare; Education and Skill Development; IT/ITeS; Infrastructure and Logistics; Energy; and Entertainment & Sports. MDoNER has been undertaking several initiatives to present NER as a land of opportunity, attracting global and domestic investment and bringing together key stakeholders, investors, and policymakers on a single platform. A business-friendly ecosystem, bolstered by government-driven infrastructure upgrades and targeted skill development initiatives, has ignited a fervent race among industrial titans to tap into the region's vast potential. Looking ahead to Vision 2047, the Government aims to position the North East as India's most prosperous region -- a global hub for startups, a leading exporter of exotic horticultural products, and the crown jewel of Indian tourism. (ANI)
