India emerging as investors’ destination : Minister

Speed Post News Network

New Delhi : 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 Jitendra Singh, on September 23, 2017, said that India is fast emerging as Investors’ destination and this has been primarily possible because of a number of decisions taken by the Union Government to bring in the ease of business. As a result, 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 India, he said.

Addressing the North East Infrastructure Conclave organised by CII here, Dr Jitendra Singh said the 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, according to a PIB release. He 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, according to the PIB release.

The Ministry of Development of Northeast (DoNER), Dr 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”. 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 lifestyle, he explained.

Describing the Northeast as a fast growing market with unexplored opportunities for investment, trade, tourism etc., he said for India to emerge as a global economic power, it is important to realise the full potential of Northeast. In the last 3 years, Dr 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, according to the PIB release.

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 called “Purbashree” at the prestigious “Dilli Haat” which showcases unique textile and handloom products from the region. He 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.