From Saurav Bora
Guwahati: On the cusp of a transformation with a new dispensation in the making in three states – Meghalaya, Nagaland and Tripura – the business fraternity is optimistic that political will and a climate suitable for trade and investment will usher in development in the hitherto laidback region.
Compared to states such as Telangana and Haryana, the Northeast has cut a sorry figure when it comes to the ease of doing business, which the Centre has been advocating in a stronger way in the past couple of years.
According to a study (The Assessment of State Implementation of Business Reforms, 2016) prepared by the Centre in collaboration with the World Bank, Meghalaya and Arunachal Pradesh were at the lowest rank of 31 with a joint score of 0,30 per cent.
Traders here also believe that sectors such as tourism and horticulture will get a much-needed boost in the years to come.
“Our expectations are high. We are looking at a brighter future and development, which has eluded Meghalaya in the past decade. Promotion of high-end tourism is something that the state government can do to not only boost its exchequer but create jobs for locals,” said Devkishan Mordani, a prominent businessman of Shillong.
The Centre’s Act East Policy, if implemented, should help in giving the business scenario a much-needed fillip, the fraternity feels.
“Better connectivity and greater trade ties with the ASEAN countries will definitely help. We believe that the presence of a government that has endeavoured to create an investor-friendly climate will boost industries in a state like Meghalaya,” another businessman said.
Several cement companies have their factories in the limestone-rich belts of Meghalaya. However, sources say that the benefits have not percolated to the grassroots.
“This is something that we expect the new government to do. The interests of locals have to be protected,” a concerned citizen said.
Trade associations anticipate an improved climate with powers changing hands now, starting with a level-playing field for smaller players.
“Many local units have turned sick. The previous dispensation did not hear the pleas of local entrepreneurs who had to face several hurdles for setting up units allotted by Tripura Industrial Development Corporation in the industrial area in Agartala. Now, we are hopeful that the new dispensation will take initiatives and create a favourable climate for local units,” Sanjay Debroy, president of the Federation and Association of Cottage and Small Industries (Tripura), told The Shillong Times on Monday.
“Besides, there are several restrictions which need to be lifted for encouraging entrepreneurs to set up units in Tripura. Political will, which we have not had in the past regime, is required here,” Debroy said.
Assam, ranked higher in the business index than Meghalaya or Nagaland, had last month organised a global investors’ summit in Guwahati attended by several top business captains. Over the past decade, sectors such as health, hospitality and wellness along with sports infrastructure have seen perceptible progress in the state.
“We are looking forward to similar progress in states such as Meghalaya, Nagaland and Tripura in the coming years,” Mordani said.
