Exports from Northeast can help its development

India should focus on the export potential of the northeastern region to neighbouring countries to free it from poverty and backwardness, speakers said at a meet organised by industry lobby Confederation of Indian Industry (CII) here.

The stakeholders' consultative workshop on the role of the Bangladesh-China-India-Myanmar (BCIM) economic corridor was organised in cooperation with the North Eastern Council, the Institute of Chinese Studies and the Observer Research Foundation here.

Council member M.P. Bezbaruah suggested that there is a need to study the export potential of the north east and match that with the demand conditions in markets such as Bangladesh, China and Myanmar.

He pointed out that the government needs to create enabling conditions in the region for such exports to take place.

Others at the conference pointed out that the economic viability of the initiative can be achieved if issues such as non-tariff barriers and connectivity can be resolved.

Former Indian High Commissioner to Bangladesh and leader, BCIM Economic Corridor Joint Study Group, Rajeet Mitter stressed on the need for having more trade facilitation measures with the objective of promoting trans-national movement of goods.

Mitter further highlighted that the generation of new additional trade flows and employment opportunities will arise through the promotion of production hubs and supply chain networks along the economic corridor.

The whole sub-region of BCIM brings together four countries with 40 percent of the world population, 13 percent of world GDP (gross domestic product) and 10 percent of the world's surface area.