Further, addressing the North East Infrastructure Conclave organised by CII on 23 September 2017, Jitendra Singh said, Northeast offers the most unexplored but fertile ground for new investments. It will, therefore, soon become the nodal point of New India’s growth story and supplement the accomplishments of western States to ensure wholesome supremacy for India in the emerging global arena, he said.
Jitendra Singh credited the Union Government for bringing in the ease of business and and at the same time focussing on “Act East Policy” aimed at giving India, strategic as well as trade advantage on the eastern borders.
The Ministry of Development of Northeast (DoNER), Jitendra Singh said, is proactively working to ensure that Northeast offers incentives to investors from other parts of the country and abroad. This will not only increase revenue generation and job opportunities, he said, but would also help supplement India’s foreign outreach in the form of “Act East Policy” because in order to effectively engage with countries to India’s eastern borders, we should first have to effectively develop Indian States proximal to the eastern borders.
For example Arunachal Pradesh and Meghalaya, have the potential to produce a number of such products and goods which will find easy takers in eastern countries like Myanmar and Bhutan which have common eating habits and common lifestyle, he explained. Describing the Northeast as a fast growing market with unexplored opportunities for investment, trade, tourism etc., Jitendra Singh said, for India to emerge as a global economic power, it is important to realise the full potential of Northeast so that it can supplement the economic accomplishments of western States in order to ensure a wholesome growth for the entire country.
In the last 3 years, Jitendra Singh said, a fast track headway has been made in improving connectivity, transport and infrastructure facilities in order to bring in ease of investment. He said, a lot has been achieved in the last 3 years, which was not done for several decades in the past. The textile and handloom products from Northeast have a unique and original value, said Jitendra Singh, but there are less number of takers because the people outside the region are not fully aware of it. To overcome this constraint, he said, the Ministry of DoNER, last year, set up a permanent stall / outlet called “Purbashree” at the prestigious “Dilli Haat” which showcases unique textile and handloom products from the region. It has proved very successful and is, on daily basis, attracting visitors from all parts of India and even abroad, he said.
Jitendra Singh further said, the creation of Venture Capital fund for Northeast region with North Eastern Development Finance Corporation (NEDFi) is meant to provide capital for “Startups” in North-Eastern region and to attract investors. This is a new breakthrough because it will attract young Startups not only from the region but from across the country, he added.