Latest news with #RisingNorthEastSummit2025
Mint
29-05-2025
- Business
- Mint
Communication technology has brought economies of scale, North-eastern states will be growth engines: Scindia
New Delhi: Developments in communication technology have brought economies of scale to India's telecommunication sector, said union minister of communications Jyotiraditya Scindia on Thursday. Scindia, who is also minister for development of the North-eastern region, also said that states in that region will be the growth engines of the country. Speaking at the CII Annual Business Summit 2025 in New Delhi, Scindia said he was working on a plan to revamp the postal service and incorporate more digital elements into the work done by postal officials. "India is known as a digital-first economy. And leading that digital-first economy has been the telecom revolution in the country," said union minister Scindia. He added that the number of mobile subscribers in the country had risen to 1.2 billion this year, from 800 million a decade ago, and that the number of internet users had spiked to 974 million this year from about 250 million a decade ago. Scindia attributed this growth to economies of scale, where manufacturers produce their goods and services in huge volumes to lower costs. He said the cost of voice calls had fallen to 0.03 paise per minute today, from over ₹ 16 per minute in the late 2000s. He added that the cost of one gigabyte of data cost ₹ 287 a decade ago, and that it costs about ₹ 9 today. "There is a 97% reduction in cost of communication over the last 11 years," he said, adding that India will become the data capital of the world in the years to come. Union minister Scindia said technology would also bolster the department of post, which has over 164,000 points of presence in the country, and could be identified as the largest distribution network in the world. "It is our resolve to convert the department of post from a cost centre into a profit centre over the next five years," he said. Additionally, growth in the North-eastern region will be a driver towards India's ambition to become a developed country by 2047. The eight North eastern states - Sikkim, Arunachal Pradesh, Assam, Mizoram, Meghalaya, Manipur, Tripura, and Nagaland -- have a decadal GDP growth rate of 12-13%. This comes days after the ministry of development for the North-eastern region received a promise of investments worth ₹ 4.32 billion trillion in the Rising North East Summit 2025. These investments came from conglomerates, industry leaders, state-run firms, and other private investors, after the ministry conducted roadshows to attract investment into these eight states. To ensure effective implementation of the proposed investment, the ministry has set up eight sectoral task forces focusing on agriculture, sports, investment promotion, tourism, economic corridors, infrastructure, textiles and handicrafts, and animal husbandry. Each northeastern state will also develop its own sectoral roadmap, Scindia had said on 25 May. Infrastructure growth in the North-eastern region has helped these states grow faster, said Scindia. He illustrated that the government has constructed 6,000km of national highways in the last decade in the region, compared to about 10,000 km in the preceding 65 years. He also said similar growth was seen in the areas of aviation and airport infrastructure, as well as railways. Highlighting that trust is a key component of India's growth story, Scindia said: "The India I bring to you today, is an India where trust is a system, where every policy, every rupee spent, every kilometer of road built, every metre of optical fibre laid, is a statement of intent. India today has risen on the world stage. Therefore I will not speak to you on abstract values. I will speak to you with regard to delivery, with regard to measurable progress, with regard to outcomes, which inspire trust." He said trust was a representation of five pillar of growth -- technology, reach, upliftment, scalability, and tradition and togetherness.
India Gazette
25-05-2025
- Business
- India Gazette
PM Modi highlights entrepreneurial spirit of Northeast, mentions 'crafted fibres'
New Delhi [India], May 25 (ANI): Prime Minister Narendra Modi on Sunday highlighted the vibrant cultural and entrepreneurial spirit of India's Northeastern states. In his 122nd episode of Mann Ki Baat, PM Modi mentioned the recently concluded Rising North East Summit 2025 and praised the Northeast's initiatives that blend tradition with modern innovation. Prime Minister Modi highlighted Crafted Fibres, a unique fashion brand from Sikkim founded by veterinary doctor-turned-entrepreneur Dr Chewang Norbu Bhutia. Crafted Fibres stands as an example of self-reliance and cultural pride of the Northern states. In his speech, Prime Minister Narendra Modi said, 'Just a couple of days ago, I went to the first Rising North East Summit. Before that, we also celebrated the 'Ashtalakshmi Mahotsav' dedicated to the strength of the Northeast. The North East is something extraordinary; its strength, its talent, is really amazing. I have come to know an interesting story about crafted fibres. Crafted fibres is not just a brand; it is a beautiful confluence of Sikkim's tradition, the art of weaving, and the sense of fashion today.' 'It was started by Dr Chewang Norbu Bhutia, a Veterinary Doctor by profession. He thought, 'Why not give a new dimension to weaving?' And this thought gave birth to Crafted Fibres. He doesn't just make clothes; he weaves lives. He provides skill training to local people, making them self-reliant,' PM Modi said. Held under the leadership of Prime Minister Narendra Modi and led by the Ministry of Development of North Eastern Region (MDoNER), the two-day summit brought together investors from across the globe, reaffirming that the Northeast is not just a region but a strategic growth corridor for Viksit Bharat. The Rising Northeast Investors Summit 2025 concluded with attracting investment commitments of Rs 4.3 lakh crore, according to an official statement. Several landmark Memorandum of Understanding (MOU) were signed with major national and international investors across key sectors. During the summit, the Sikkim government signed an MoU with SM Hotels and Resorts with an investment intent of Rs 250-300 crore. The Arunachal Pradesh government also signed an MoU of Rs 150 crore with the Farm Native Group. The Meghalaya government signed a Rs 4,000 crore MoU with Agri-Bio Fuels Global Ltd. The Meghalaya government and Inlambi Pvt Ltd signed an MoU for Rs 1,000 crore. The Manipur government also signed a major MoU of Rs 1,000 crore with Inlambi Pvt Ltd. The Tripura government signed a Rs 500 crore MoU with the Sri Sri Ravishankar Vidya Mandir Trust for Sri Sri University and an Ayurveda College and Hospital. Beyond the marquee MoUs, the summit recorded a total of 803 investment intents through roadshows, B2G meetings, and PSU/public-private proposals. Roadshows held across states contributed Rs 99,533 crore in interest; PSUs brought in Rs 1.27 lakh crore; industrial houses pledged Rs 1.58 lakh crore; and B2G meetings during the summit itself resulted in over Rs 18,600 crore worth of commitments, as per the release. (ANI)
India Gazette
24-05-2025
- Business
- India Gazette
Assam CM meets industry leaders in New Delhi, urged to fulfill Advantage Assam 2.0 commitments
New Delhi [India], May 24 (ANI): Assam Chief Minister Dr Himanta Biswa Sarma on Saturday met top industrialists on the sidelines of ongoing Rising North East Summit 2025 in New Delhi and asked them to fulfill their commitments made during Advantage Assam 2.0 Investment and Infrastructure Summit in Guwahati, a release added. The Chief Minister met the Chairman of Vedanta Group, Anil Agarwal at his official residence here on Friday evening and asked him to operationalise the group's investment commitment made during Advantage Assam Summit held in February this year, the release by the state added. As per the release, Chairman of Vedanta, Agarwal said the group is wholly committed to Assam's growth journey and is keen to expand its footprint in the State's hydrocarbon sector. Later, taking to X (formerly Twitter), the Chief Minister Dr Himanta Biswa Sarma wrote, 'Today in New Delhi, I met the very enterprising Chairman of @Vedanta_Group, @AnilAgarwal_Ved Ji. We spoke on operationalising the group's investment commitment made during #AdvantageAssam2. Vedanta is keen to expand its footprint in the state's hydrocarbon sector.' The Chief Minister met Managing Director of ITC Hotels, Anil Chadha at his residence and discussed the potential of investment in the hospitality sector. Chadha told the Chief Minister Sarma that his group is very keen in exploring opportunities in the hospitality sector in Assam. Informing about the development, CMO Assam, tweeted, 'Anil Chadha, MD, @ITCHotels called upon HCM Dr @himantabiswa in New Delhi today. They discussed the potential of investments in Assam's hospitality sector as Chadha expressed keen interest in exploring opportunities for expansion in the state.' Assam's investor summit, Advantage Assam 2.0 secured investment commitments worth Rs 5.18 lakh crore over the next five years. The release added that CM Sarma is closely monitoring the investment commitments made by different companies during the Advantage Assam 2.0. He will hold one-to-one meeting with the industry leaders in the national capital on May 26. 'The Chief Minister has started individual discussions with the companies about how to go about realising the investment on the ground, what kind of incentives they might need, land they would need. We will prepare the preparatory roadmap over the next six months,' a senior official privy to the development said. 'If even a significant portion of the pledged investments materialises, Assam could emerge as a leading industrial hub in the Northeast and beyond. Therefore, the focus now shifts to implementation and execution, ensuring that these investments translate into job creation, infrastructure development, and long-term economic benefits for the state,' the official added. 'The roadmap will focus on addressing key challenges such as land allocation, ease of doing business, and incentive structures to ensure that projects move from paper to reality,' the official added. To achieve the goal, the Government of Assam plans to carefully analyse investment proposals in the current financial year and work toward a comprehensive roadmap within the next six months, the release added. (ANI)
