India’s northeastern states showcase economic potential

Sajjad Ahmad, Deputy Business Editor

The Northeast fortnight was inaugurated recently at India Pavilion, Expo 2020 Dubai, by Imnatiba Jamir, Adviser, Industries and Commerce, Nagaland.

During the fortnight, the Northeastern 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, 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 Rs79,000 crore, out of which Rs65,000 crore has materialised.”

“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 per cent 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.”

Patowary further added, “We have various state and national policies, including NEIDS (Northeast Industrial Development Scheme), that include incentivising 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 catalyse the growth of startups from the state.

Talking about Nagaland and the opportunities in the state, Imnatiba Jamir during the inauguration said, “We are delighted to be a part of Expo 2020 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, 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.”

 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.

Imnatiba Jamir elaborated, “We are showcasing the unique culture, food and attractions of Nagaland to the world at the Expo 2020 Dubai.”

He added, “Nagaland offers huge opportunities for investors in various sectors. We see Expo 2020 as a big platform from where we can highlight our investment potential to global investors.”

Jamir concluded,” Nagaland is  home to 17 tribes with more than 100 spoken languages with diverse cultures. The promotion of different traditional wear, handcrafts and flora and fauna will play a big role in the growth of its tourism industry.”

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 March 17, 2022.

Steel Week: The India Pavilion at Expo 2020, Dubai is all set to host ‘Steel Week’ from March 11, 2022. The weeklong event, culminating on March 17, 2022, will highlight the expertise of the Steel sector in India and showcase an array of opportunities as well as business potential in India’s steel sector.

Delegation of Ministry of Steel, Government of India, will be led by Ram Chandra Prasad Singh, Union Minister of Steel. Senior officials from the leading steel producers of India including SAIL, JSW, JSPL, Tata Steel, AM/NS India will accompany the delegation.

The delegation will meet senior officials from Mubadala Investment Company, Abu Dhabi, to explore investment opportunities in Indian steel sector. Meetings with senior officials from Dubai Chamber of Commerce, UAE-based steel producers & steel user companies have been lined up to explore opportunities for collaboration of Indian steel companies and to showcase investment opportunities in India. A special session on the Rs6,322 crore Production-Linked Incentive (PLI) scheme for Specialty Steel has been scheduled during the week. The delegation will also visit prominent country pavilions.

The India Pavilion at Expo 2020 Dubai is one of the biggest platforms that offers a golden opportunity to showcase India to the world and project the country as the next hub for growth and innovation. Nestled at the Al Forsan Park adjacent to the ‘Opportunity’ district of the Expo 2020 Dubai, India Pavilion is created on the theme of “Openness. Opportunity. Growth.”