Al Ngullie
Morung Express News
Dimapur | January 9
The policy-crucial business conclave, the eighth North East Business Summit, has begun in Delhi today, January 9, with focus on capitalizing on the growing trade relations with “bordering nations” – basically understood to be China and Myanmar – by means of “cultural tie-ups” with them to enhance North East region’s, and India’s, economic growth.
There are tacit undertones that the focus of the conclave itself could make impressions on the way the 12th five year plan (2012-2-17) of the Government of India could work on North East Region’s economy particularly Assam, Nagaland and Manipur. Meaning, how economic exchanges with “neighboring nations” such as strategic Myanmar and “big brother” neighbor, China could impact NER’s larger economic goals as defined in the long-term ‘Vision 2020 document’ – the more elaborate exposition of the Centre’s ‘Look East Policy.’
Government leaders including governors of North-East Indian states, and Myanmar and Nepal, industry honchos, investors and representatives of Indian Chamber of Commerce among others converged for the conclave in Delhi, which would be till January 10. Governor of Nagaland Nikhil Kumar is also attending the conclave. Other dignitaries include Nepal’s Minister of Industry Anil Kumar Jha, Chief Minister of Sagaing Region of Myanmar U Tha Aye and Secretary of the Ministry of DoNER AS Lamba.
Addressing the opening ceremony of the DoNER-organized North East Business Summit, Minister of State (Independent Charge) for Development of North Eastern Region (DoNER) Paban Singh Ghatowar said it is time for the NE states to capitalize on the growing economic exchanges with their neighboring countries. “I would like to reiterate that it is the most opportune time for North East to capitalize on the growing trade relation with the bordering nations and emerge as a crucial enabler to enhance economic and cultural tie-ups with these neighboring countries.”
The two-day Summit is jointly organized by the Ministry of DoNER and the Indian Chamber of Commerce.
“North-East part of the country is a region which is richly endowed with natural resources. Yet, troubled by history and geo-politics, the region has become, since independence, one of the most backward regions of the country,” the DoNER minister told the gathered government and industry leaders. He said that in spite of having large investment opportunities in sectors like hydropower, infrastructure and natural gas, health care, textile and handicrafts, tourism, horticulture and agro-based industries, minerals, and so on, NE region is yet to see any major investment in the sectors from private investors.
“Special fiscal package under North East Industrial Policy (NEIP) has so far failed to trigger major investment flow in the region in the manner it was conceived,” he said. He admitted that augmenting investment to accelerate growth in the region is only “a part of the story.”
Nonetheless, Ghatowar said that a successful transformation of investments into development outcomes requires a variety of initiatives in every sector of the economy: primary, secondary and tertiary. It also requires flexibility in schemes of line ministries being implemented in NER and a review of their cost and distance norms keeping in view sparse habitations especially in Hill districts of NER, he said.
“Above all improvement in peace and law and order across the region is crucial for business. Area specific problems need to be continuously addressed through negotiations and peace talks.”
On that point, the minister reiterated that the current time is “most opportune time” for North Eastern States to capitalize on the growing trade relation with the bordering nations and “emerge as a crucial enabler” to enhance the region’s economy.
“Time has come for an effective hand-holding from all the stakeholders so that North-East India can reach next level of growth and economic prosperity and the Look East policy find its true meaning,” he said.
