The north-east region has a trade potential of between Rs 35,000 crore and Rs 180,000 crore and could very well become the new growth engine for the country, a report released today by FICCI and PwC said.
The total trade between India and its immediate neighbours Nepal, Bhutan, Bangladesh and Myanmar in 2013-14 was to the tune of Rs 80,303 crore, and had been growing at a CAGR of 20 per cent, according to the report.
Despite sharing its border with these countries, the share of the north-east region of this trade was only one per cent to two per cent, it added.
Also Read
Along with physical infrastructure development, policy interventions in the areas of decentralisation, facilitation of border trade and promotion of local industries, among others, need to be worked out for developing the north-east into an economic hub, the report said.
An integrated economic corridor can be developed in north east India for exploiting the potential the region, it added.
