Investors Show Keen Interest For investment At North East Chennai Roadshow
Agartala, Feb 07, 2025, By Our Correspondent42
The North East Trade and Investment Roadshow held in Chennai on Wednesday witnessed an enthusiastic response from potential investors eager to explore business opportunities in the North Eastern states. Organized by the Ministry of Development of North Eastern Region (MDoNER), the event aimed to showcase the immense economic potential of the region and encourage investments across various sectors.
The roadshow was attended by Union Minister for Development of North Eastern Region and Communications, Jyotiraditya M. Scindia, along with Pu Lalnghinglova Hmar, Minister of Sports & Youth Services, Government of Mizoram. Senior officials from MDoNER, the North Eastern Council, and representatives from all eight North Eastern states were also present to highlight the region’s investment potential and growth trajectory.
During his address, Minister Jyotiraditya Scindia emphasized Prime Minister Narendra Modi’s vision of the North East as ‘Asthalakshmi,’ signifying the region’s crucial role in India’s economic transformation. He highlighted the massive infrastructure development that has taken place in the region over the past decade, including significant expansions in air, road, rail, and water connectivity. He underlined that these advancements have not only enhanced accessibility but have also positioned the North East as a gateway to Southeast Asia, perfectly aligning with India’s Act East Policy.
Scindia further elaborated on the vast investment potential of the North Eastern states, each possessing unique strengths, resources, and strategic advantages. He pointed out key sectors with high growth prospects, such as tourism and hospitality, agriculture and allied industries, healthcare, entertainment and sports, infrastructure and logistics, IT and ITeS, textiles, handloom and handicrafts, and energy. Assuring investors of a favorable business climate, he emphasized that the region's highly literate workforce, rich natural resources, and improving connectivity make it an attractive destination for investments.
The Minister also expressed his admiration for Chennai, describing it as a thriving IT powerhouse and a center of economic growth for India. He drew parallels between Chennai’s industrial ecosystem and the emerging economic landscape of North East India, urging Tamil Nadu-based entrepreneurs to explore opportunities in agriculture, food processing, tourism, and manufacturing in the region. He also highlighted that the North East holds 38% of India’s bamboo resources, presenting a lucrative opportunity for Chennai’s furniture industry. Additionally, he pointed out the vast untapped hydrocarbon reserves and hydropower potential of the North East, which remain open for large-scale investments. Concluding his address, Scindia invited investors to actively participate in the economic transformation of the region and become stakeholders in its growth story.
Mizoram’s Sports and Youth Services Minister, Pu Lalnghinglova Hmar, emphasized his state’s promising investment landscape despite its small population of 11 lakh. He highlighted Mizoram’s strong agricultural sector, with 55% of its land under horticulture, producing GI-tagged ginger and chilies, along with mandarin oranges, papaya, and dragon fruit. He pointed out the significant opportunities in food processing and agriculture-related industries. Additionally, he stressed Mizoram’s growing prominence as a sports hub, aligning with India’s 2036 Olympic vision, and noted that the state has consistently produced top-tier athletes. He invited investors to explore investment opportunities in Mizoram’s tourism, infrastructure, and sports sectors.
Secretary of MDoNER, Chanchal Kumar, reinforced the North East’s appeal as a center for innovation, cultural heritage, and economic expansion. He highlighted the transformation in regional connectivity over the past decade, encompassing road, rail, air, water, and digital infrastructure. He stated that the North East’s economic growth has outpaced the national average, making it an increasingly attractive business destination. Additionally, he informed that the central government has identified eight tourism sites across the North Eastern states to be developed as model destinations through the Public-Private Partnership (PPP) model.
Kumar further emphasized the rapid growth of the IT and ITeS sector in the North East and pointed out that agriculture and allied industries offer unique, high-value products with vast economic potential. He introduced the UNNATI Scheme, launched by the Government of India, which provides attractive incentives to encourage investments in the North East. Additionally, he mentioned that ongoing projects such as trilateral highways and the Kaladan Multi-Modal Transit Transport Project will position the region as a major hub for medical tourism, serving over 60 million people from neighboring countries. He assured investors of the North East’s investor-friendly policies, including a single-window clearance system across all states, designed to facilitate ease of doing business.
Addressing the audience, Joint Secretary of MDoNER, Shantanu, delivered a presentation titled "Advantage North East and Opportunities for Investment and Trade," where he underscored the region’s untapped economic potential. He reiterated the substantial improvement in connectivity over the past ten years and noted the completion of various long-pending projects that have directly benefited local communities. He stressed that the North East, with its enabling infrastructure, young workforce, and English-speaking population, presents an ideal business destination for companies targeting Southeast Asian markets.
Shantanu also outlined sector-specific investment opportunities in IT & ITeS, healthcare, agriculture, education and skill development, sports and entertainment, tourism and hospitality, infrastructure and logistics, textiles, handloom and handicrafts, and energy. He concluded by encouraging investors to take advantage of the North East’s immense opportunities and actively participate in its economic transformation.
A representative from the Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce & Industry, provided a detailed overview of the UNNATI Scheme, explaining its benefits and incentives for investors. The scheme is designed to accelerate industrialization in the North East, reduce import dependence, enhance exports, and support the broader objectives of the ‘Act East Policy.’ The official emphasized that the initiative aims to make the North East a major center for manufacturing and services, boosting employment and economic growth in the region.
Senior officials representing the North Eastern states also shared valuable insights into emerging business opportunities in their respective states. They provided investors with sector-specific details and highlighted the unique strengths of each state.
The Chennai roadshow saw robust participation from industry leaders, reinforcing North East India’s growing appeal as a prime investment destination. The event also facilitated multiple Business-to-Government (B2G) meetings, offering investors a platform to discuss investment plans with key stakeholders from the region.
Participants expressed keen interest in exploring collaborative ventures, and the event successfully laid the foundation for future partnerships. By fostering meaningful dialogue and connecting investors with key policymakers, the roadshow marked another milestone in a series of successful investment promotions across India. It effectively showcased the North East’s vast economic potential, paving the way for sustainable development and enhanced economic integration with the rest of the country.