Latest news with #RisingNortheastSummit
The Hindu
24-05-2025
- Business
- The Hindu
Northeast to be gateway for trade with Southeast Asia: Modi
India's Northeast is not a 'frontier region' any more, it is the 'frontrunner of growth', Prime Minister Narendra Modi said on Friday, pitching for investments in the eight States that constitute the region. Inaugurating the Rising Northeast Summit in New Delhi, the Prime Minister said that the region offers a wide range of economic and industrial opportunities. India has 'new dreams' for the Northeast, he said, adding that the region would emerge as a gateway for trade with Southeast Asia over the next decade. The event comes against the backdrop of the May 17 order by the Directorate General of Foreign Trade to close land ports with Bangladesh. Officials have said that the decision will provide the Northeast a level playing field to develop the commercial potential of its own supply chains, and an impetus to manufacture competitively. The Prime Minister paid tribute to the diversity of the region, reflected in its products and people. 'India is termed as the most diverse nation in the world. But our Northeast is the most diverse part of our diverse nation. From trade to tradition, textile to tourism, Northeast's diversity is a very big strength of the region,' Mr. Modi said. He listed the bio-economy, bamboo, tea production, petroleum, sports and eco-tourism as some of the areas where the region is an emerging hub. 'Northeast is the powerhouse of energy,' said Mr. Modi, describing the region as 'Ashta Lakshmis' or the eight forms of Goddess Lakshmi. He said the Northeast would emerge as a gateway to trade with the ASEAN bloc over the coming decade. 'Northeast will be a strong bridge of trade with Southeast Asia. We are working on the necessary infrastructure to realise that goal,' Mr. Modi said. The Prime Minister announced that India is working on projects to directly connect Myanmar, Thailand, Vietnam, and Laos to India. 'These projects will give the Northeast a new commercial identity among the Indo-Pacific countries,' he added. 'East does not mean just direction for us. It means, Empower, Act, Strengthen and Transform. This is our government's policy for eastern India,' Mr. Modi said. Union Ministers have visited the region more than 700 times in the past decade, the Prime Minister said. 'They saw hope in the eyes of the people of the Northeast and they converted that trust into principles of development. We moved from Look East to Act East mantra and that is the result that we are seeing in the region,' he said. Chief Ministers of Northeast States in attendance include Himanta Biswa Sarma of Assam, Meghalaya's Conrad Sangma, Tripura's Manik Saha, Lalduhoma of Mizoram, and Sikkim's Prem Singh Tamang. The Northeast's economic future received considerable attention in March when Bangladesh's Chief Adviser Mohammed Yunus described the region as 'landlocked' and offered his country as the 'guardian of the ocean' that could help China access the region's commercial space. India had strongly objected to that characterisation, with Mr. Sarma describing Prof. Yunus's comments as 'offensive and condemnable'. In an editorial, The Hindu noted that India should carefully lay out its response keeping in mind that while it has to communicate its displeasure to the Yunus government, it also has to maintain working relations with this administration till a popularly elected government takes charge in Dhaka. The Hindu's Editorials The Hindu's Daily Quiz Which State in India houses a major share of lions? Gujarat Jharkhand Karnataka Uttarakhand To know the answer and to play the full quiz, click here.
Time of India
23-05-2025
- Business
- Time of India
Vedanta Group to invest Rs 80,000 crore in Northeast India for growth and development
Guwahati: Vedanta Group announced an investment of Rs. 80,000 crores in the Northeast region. The company was participating in the inaugural session of the Rising Northeast Investors Summit 2025 - a global investment conclave organized by the Ministry of Development of Northeastern Region in New Delhi. The investment will be made in the fields of oil & gas, critical minerals , refining facilities, power, optical fibre, system integration, renewable energy, transmission sectors and data centers in six Northeastern states. Vedanta is undertaking one of the largest exploration and development programs to unlock the hydrocarbons in the Northeast. Earlier this year, the company announced Rs. 50,000 crore investment in Assam at the Advantage Assam 2.0 summit. Today, the hydrocarbons & minerals conglomerate announced additional investments of Rs. 30,000 crores across Arunachal Pradesh, Nagaland, Tripura, Meghalaya and Mizoram, at the Rising Northeast Summit. The investment will potentially generate up to 1 lakh jobs and enable socio-economic development of the region. Vedanta is also committed to expanding its social impact initiatives such as Nand Ghars (modernized anganwadis that function as holistic centers for woman & child development), handloom skill centers, digital classrooms for women and children, and promoting sports to ensure a brighter, more inclusive future for the youth of the region. Speaking at the summit Anil Agarwal, Chairman – Vedanta Group, reinforced his company's commitment towards the progress of the region. 'Today, the states of the North-East are growing in double digits. The opportunities are growing even faster. Under the Prime Minister's leadership, this region has become a key engine of growth for Viksit Bharat. The private sector is ready to be a partner for prosperity. Vedanta is fully committed to investment in the region which has the most amazing natural resources potential, from oil and gas to critical minerals and an exceptional pool of talented human resources', said Agarwal. The Northeast is a land of unparalleled natural abundance, both above and below the ground. Assam, the site of India's first oil discovery, holds nearly 27% of the country's crude reserves. Cairn Oil & Gas has been producing from the Hazarigaon field in Assam, the first DSF (Discovered Small Field) block to go under production in the Northeast. Cairn has also been supplying gas to the neighbouring Tea estates, giving a boost to tea production in Assam and enabling farmers to switch from expensive coal-based energy sources to clean gas. The locally produced gas from the Hazarigaon field is also a prime contributor in fuelling more than 100 CNG buses in Guwahati, supporting the clean energy initiative of the Government of Assam. Arunachal Pradesh is home to India's highest graphite reserves, substantial vanadium and Rare Earth deposits, and nearly 40% of the country's hydro power potential. Recently, Vedanta secured vanadium and graphite mineral blocks in Arunachal Pradesh through critical mineral auctions. Once explored, these critical mineral blocks will provide vital raw materials to India's hi-tech manufacturing and clean energy sectors. Nagaland, Tripura, and Meghalaya also have immense natural resources that can be responsibly harnessed for the growth of the region and the country. Vedanta and its sister entities have also invested in the commissioning of a 300 circuit kilometer transmission system network which allows transfer of 1,000 MW power from Assam to Meghalaya. This project significantly improves power reliability and accessibility in Meghalaya and Assam, supporting the region's industrial, commercial, socio-economic growth and overall quality of life.
NDTV
23-05-2025
- Business
- NDTV
Adani Group To Invest Rs 1 Lakh Crore In Northeast Over 10 Years
New Delhi: The Adani Group has announced a significant additional investment of Rs 50,000 crore - taking the total to Rs 1 Lakh crore - across the Northeast over the next 10 years, spanning across many sectors including green energy, roads and highways, and digital infrastructure. The announcement was made by Gautam Adani, the Chairman of the Adani Group at the 'Rising Northeast Summit' on Friday. "Over the past decade, in the hills and valleys of the Northeast, a new chapter in India's growth story is unfolding. A story rooted in diversity, resilience, and untapped potential. This region is now a source of our cultural pride, economic promise, and strategic direction. I announce that Adani Group will invest an additional 50,000 crore across the Northeast over the next 10 years," Mr Adani said. He added, "Our focus will span green energy - including smart-meters, hydro, pumped storage, power transmission, roads and highways, digital infrastructure, logistics, as well as capacity-building through skilling and vocational training centres. But more than infrastructure, we will invest in people. Every initiative will prioritise local jobs, local entrepreneurship, and community engagement." Highlighting Prime Minister Narendra Modi's role in fostering growth in the Northeast, Mr Adani said, "Hon'ble Prime Minister, when you said 'Act East, Act Fast, Act First', you gave the Northeast its wake-up call. 65 personal visits, 6.2 lakh crore of investments since 2014, doubling the road network to 16,000 km, doubling the number of airports to 18 - this is not just a policy. It is your hallmark of big thinking, your belief systems, your convictions in a 'Sabka Saath, Saka Vikas'." "Hon'ble Prime Minister, we will walk in step with your vision. To all brothers and sisters of Northeast, we at Adani will stand beside your dreams, your dignity, and your destiny," Mr Adani said. This comes three months after the Adani Group announced an investment of Rs 50,000 crore in Assam, spanning key infrastructure sectors such as airports, aero cities, city gas distribution, transmission, cement, and road projects. Highlighting PM Modi's role in fostering investment-driven economic growth, Mr Adani had drawn parallels between Assam's economic aspirations and the success of Gujarat's investment ecosystem. He also credited PM Modi's vision, which started with the Vibrant Gujarat Global Summit in 2003, as the catalyst that inspired states across India to adopt similar strategies.
NDTV
23-05-2025
- Business
- NDTV
Adani Group To Invest Additional Rs 50,000 Crore In Northeast Over 10 Years
New Delhi: The Adani Group has announced a significant additional investment of Rs 50,000 crore across the Northeast over the next 10 years, spanning across many sectors including green energy, roads and highways, and digital infrastructure. The announcement was made by Gautam Adani, the Chairman of the Adani Group at the 'Rising Northeast Summit' on Friday. "Over the past decade, in the hills and valleys of the Northeast, a new chapter in India's growth story is unfolding. A story rooted in diversity, resilience, and untapped potential. This region is now a source of our cultural pride, economic promise, and strategic direction. I announce that Adani Group will invest an additional 50,000 crore across the Northeast over the next 10 years," Mr Adani said. He added, "Our focus will span green energy - including smart-meters, hydro, pumped storage, power transmission, roads and highways, digital infrastructure, logistics, as well as capacity-building through skilling and vocational training centres. But more than infrastructure, we will invest in people. Every initiative will prioritise local jobs, local entrepreneurship, and community engagement." Highlighting Prime Minister Narendra Modi's role in fostering growth in the Northeast, Mr Adani said, "Hon'ble Prime Minister, when you said 'Act East, Act Fast, Act First', you gave the Northeast its wake-up call. 65 personal visits, 6.2 lakh crore of investments since 2014, doubling the road network to 16,000 km, doubling the number of airports to 18 - this is not just a policy. It is your hallmark of big thinking, your belief systems, your convictions in a 'Sabka Saath, Saka Vikas'." "Hon'ble Prime Minister, we will walk in step with your vision. To all brothers and sisters of Northeast, we at Adani will stand beside your dreams, your dignity, and your destiny," Mr Adani said. This comes three months after the Adani Group announced an investment of Rs 50,000 crore in Assam, spanning key infrastructure sectors such as airports, aero cities, city gas distribution, transmission, cement, and road projects. Highlighting PM Modi's role in fostering investment-driven economic growth, Mr Adani had drawn parallels between Assam's economic aspirations and the success of Gujarat's investment ecosystem. He also credited PM Modi's vision, which started with the Vibrant Gujarat Global Summit in 2003, as the catalyst that inspired states across India to adopt similar strategies.
Mint
14-05-2025
- Business
- Mint
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.
