India’s Northeastern states showcase economic potential at EXPO2020
States to focus on sectors such as tourism, agriculture, beekeeping, bamboo, food processing, organic food, among others
DUBAI, March 08, 2022: The Northeast fortnight was inaugurated on Sunday at India Pavilion, EXPO2020 Dubai, by Shri. Imnatiba Jamir, Advisor Industries and Commerce, Nagaland.
During the fortnight, the Northeast States of Tripura, Sikkim, Mizoram, Nagaland, Assam, Arunachal Pradesh, Manipur and Meghalaya, will showcase their culture, tourism potential as well as the business potential.
Talking about the sectors in Assam, Shri Chandramohan Patowary, Minister of Industries & Commerce, Government of Assam said, “Assam is known as India’s gateway to the ASEAN and Southeast Asian countries. In 2018, the Assam Global Investment Summit was held, and we were able to sign MoUs worth Rs. 79,000 Cr, out of which, Rs. 65,000 Cr has materialized. We also have various policies around Logistics, Electric Vehicles (EVs) and Ethanol, that are rapidly gaining popularity and leading to growth in the state. Assam tea is known globally, and we are producing 52% of the country’s total production. We also have a Tea Park in Assam, which has ensured higher growth in the sector. From the connectivity perspective, Assam’s railway, national highway and waterways have also helped the state grow.”
Shri Patowary further added, “We have various state and national policies, including NEIDS (Northeast Industrial Development Scheme), that include incentivizing the investors and we look forward to welcoming investment in the state, both from the Middle East and the Southeast Asian nations. Our policies have also enabled growth of trade with the UAE, including export of fruits, vegetables, ginger and turmeric.”
He also elaborated on the growing focus on Electric Vehicles and the EV policy announced by Assam.
The Government of Assam also has a collaboration with IIM-Kolkata and TiE, that offer various incubator programs to catalyze the growth of startups from the state.
Talking about Nagaland and the opportunities in the state, Shri. Imnatiba Jamir, Advisor Industries and Commerce, Nagaland, during the inauguration said, “We are delighted to be a part of EXPO2020 Dubai and are looking forward to showcase our state at this global platform. Our aim is to represent the Northeast as an up-and-coming region that offers unique business opportunities vis-à-vis the rest of India. At this world forum, our focus is to highlight the sectors that have massive potential such as tourism, agriculture, beekeeping, bamboo, and food processing.”
Talking about the business opportunities in Nagaland, Shri Jamir added, “There are several initiatives being taken by the government to attract investment. The recent changes in the land ownership provisions will attract investors and we are optimistic that many investment-friendly policies will be implemented in the state.”
Shri Jamir also said that the Northeast region is focusing on the growth of startups. There are various incubation centers and policies that enable them to avail the loan facilities with ease. The startup ecosystem in the region is at a nascent state, but with the right direction and reforms, has the potential to grow.
The participating states also collectively hosted the session ‘Conference on Business Opportunities in the Northeast India’ yesterday highlighting the investment opportunities in the eight north-eastern states, the growing industries and start-up ecosystem in the region.
The eight northeastern states conducted over 70 G2B meetings during the day to explore areas for mutual collaboration in sectors like tourism, logistics, agriculture and Agri-commodities (tea & spices), manufacturing and food processing.
The Northeast fortnight will conclude on 17th March 2022.
