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India emerging as Investors' destination: Dr Jitendra Singh

Delhi 

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emerging as Investors' destination: Dr

The Union Minister of State (Independent Charge) for Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr said that is fast emerging as Investors' destination and this has been primarily possible because of a number of decisions taken by the UnionGovernment to bring in the ease of business. As a result today, many of those Indians who had left the country decades ago and never found a reason to look back, are now keenly exploring the possibilities of returning back and investing in

Addressing the North East Infrastructure Conclave organised by CII here today, Dr 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 in the emerging global arena, he said.

Dr 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), Dr 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 Indias foreign outreach in the form of Act East Policy" because in order to effectively engage with countries distal 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., Dr said, for 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, Dr 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 Dr 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 and even abroad, he said.

Dr said, the creation of Venture Capital fund for Northeast region with North Eastern Development Finance Corporation Ltd (NEDFi) is meant to provide capital for Startups" in North-Eastern region and to attract investors.his is a new breakthrough because it will attract young Startups not only from the region but from across the country, he added.

Secretary, Ministry of DoNER Shri Naveen Verma was also present.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, September 23 2017. 00:20 IST