NEW DELHI, May 14: The emerging Northeastern regions could receive fresh investment up to Rs 2.5-3 lakh crore across sectors following a series of efforts by the Centre, Union Minister for DoNER, Jyotiraditya Scindia on Wednesday said ahead of the Rising Northeast Investors Summit here this month.
Addressing media persons here, Scindia said his ministry has received investment commitment of Rs 1.12 lakh crore from nine roadshows organised by his ministry. This does not include any old investment that has already been announced earlier, he clarified.
“In addition, six industrial houses and the PSUs are going to invest between Rs 2.5 lakh and 3 lakh crores,” Scindia said. This is a huge and record number of once remote and landlocked region, he added.
Scindia has held one-on-one meetings with large conglomerates, including the Tata Group, Reliance Industries, Aditya Birla Group, etc, for investment in the Northeastern region. After the two-day summit ends on May 24, DoNER will work with the Investment Promotion Authorities set up by the Northeastern states to develop the investments on the ground, Scindia said.
“We will be hand-holding the investors and the state government to convert these commitments into reality,” the minister added.
The summit will be inaugurated by the Prime Minister Narendra Modi. The valedictory function of the summit will be addressed by Union Home Minister Amit Shah who is also the Chairman of the North Eastern Council.
This summit is in continuation of India’s most ambitious investment outreach campaign for the Northeast to date.
Scindia highlighted that in the last one year, in close coordination with all eight state governments of the Northeast, the ministry has led an extensive nationwide and international engagement effort. This is in addition to the Ashtalakshmi Cultural summit that was inaugurated by Prime Minister Narendra Modi last December. Key highlights include nine domestic roadshows across major Indian cities, an Ambassadors’ Meet with representatives from over 76 countries, six state roundtables, six sector-specific industry interactions, and numerous consultations with PSUs, industry chambers, and corporates.
Notably, Scindia also met with leading industrialists in Mumbai earlier this month including Reliance Chairman Mukesh Ambani, TATA group Chairman Natarajan Chandrasekaran and Chairman of Aditya Birla Group, Kumar Mangalam Birla. He also highlighted that for the first time, eight high-level task forces, chaired by the chief ministers of the Northeastern states, were formed to drive regional strategy in priority sectors.
The minister also announced that collective efforts have generated over 732 investment proposals valued at more than Rs. 1.12 lakh crore, a remarkable show of confidence in the region’s potential. To further boost investments in the region, Scindia shared that six Northeastern states now have operational Investment Promotion Agencies (IPAs) and two more are on the way.
All the eight chief ministers and governors of Northeastern states and Union ministers will attend the two-day summit.
Minister of State, DoNER, Sukanta Majumdar, Secretary of DoNER Chanchal Kumar and other senior officials of the Ministry were present at the event.
