Investors146; paradise

The Northeast gears up for change as 128 industrial houses promise to invest in the region

For a region with a large agrarian economy, the Northeast has for long agonised at being overlooked by investors. Now, there8217;s good news, with as many as 128 industrial houses promising to invest in the region. Expressing confidence in the government8217;s North East Industrial and Investment Policy 2007, formulated early last month, they have suggested improvements in the region at the 3rd North-East Business Summit, which concluded on Wednesday.

While appealing to the investors to exploit the natural resources of the region for boosting its economy, the Union Minister for Development of the Northeastern region, Mani Shankar Aiyar, has also assured the corporate houses that he would take up the issue with the Commerce and Industry Ministry for effecting the necessary changes in the policy.

According to a study conducted by YES Bank, the northeastern region, consisting of Sikkim, Assam, Nagaland, Manipur, Mizoram, Meghalaya, Arunachal Pradesh and Tripura, is an unexplored paradise for agribusiness. The study suggests some potential areas for agribusiness like agrofood processing, horticulture development and crop diversification, agro forestry, improved agriculture technologies, plantation crops, ornamental fisheries, jute and bamboo, agri infrastructure and organic farming.

A similar study jointly conducted by the Indian Chamber of Commerce, NEDFi and the Indian Institute of Entrepreneurship has worked out project reports for the possible industries in the region.

Meanwhile, Aiyar also appealed to Thailand8217;s commerce minister, Krik-Krai Jirapaet, to be an active partner in the development of the northeastern India. He suggested investment in areas like road construction, inland water transportation, rubber industry, moga silk processing, food processing and also exploiting the biodiversity of the region.

Jirapaet responded positively, saying, 8220;We already have 20-odd agreements in place. We can extend our cooperation on the basis of the fundamentals of the existing agreements,8221; he said. He also pointed out Thailand8217;s areas of export interest like agriculture and horticulture produces, processed and canned fruits.