Shillong, March 25: The 7th Act East Business Show, was inaugurated in Meghalaya, and saw participation from delegates from ASEAN Nations, entrepreneurs, and government officials, reinforcing the region’s strategic role in India’s Act East Policy.
Chief Minister Conrad Sangma, addressing the gathering, emphasised the significance of partnerships and long-term economic strategies.
“What is most important for us as a state government and as a nation is the strong partnership that we believe in. These events will come and go, but the understanding, bonding, and friendships developed through them should be the main takeaway for all of us,” Sangma stated.
A Multimedia Presentation on Meghalaya and why it can be An Investment Destination of India was presented by Vijay Kumar D, IAS Commissioner and Secretary, Planning. IP&SD and CEO, MIPA.
The event brought together representatives from various nations, including ambassadors, high commissioners, and business leaders. Discussions revolved around investment opportunities, economic cooperation, and sustainable development in the Northeast region.
Sangma highlighted Meghalaya’s economic growth, citing a state GDP growth rate of 13.5% in the past few years, surpassing the national average.
He attributed this progress to well-planned policies, institutional frameworks, and a strong political will driving the agenda from the central government down to the state level.
“There is a process, there is a policy, and there are initiatives that have been taken to make that growth a possibility,” Sangma said, stressing the need to dream big and set high goals for development.
German Ambassador to India, addressing the forum, underscored the growing interest of German businesses in India, particularly in the Northeast. “Two thousand companies—59% of them—are planning new investments this year. 69% of German firms recognise India’s consistent economic growth as a significant advantage,” he said.
The Ambassador also identified potential sectors for German investment in Meghalaya, particularly organic farming, food production, sustainable tourism, and skill development. “Germany and India have a partnership for sustainable development. We want to invest in green energy, eco-friendly agriculture, and high-value tourism in the Northeast,” he added, praising Meghalaya’s natural beauty and organic produce.
Sangma also stressed that a one-size-fits-all Act East policy may not be effective for the Northeast, suggesting that different states should focus on specific zones and international partnerships. He advocated for micro-level strategies to ensure that engagements translate into concrete economic benefits.
“The zones we create must be tailored. Meghalaya shares a long border with Bangladesh, making it a key partner, while other states may have stronger ties with Myanmar or other Southeast Asian nations,” he explained.
The event, spanning three days, will see continued discussions and collaborations among stakeholders, aiming to unlock the full economic potential of the Northeast while ensuring sustainability and cultural preservation.