Excelsior Correspondent
NEW DELHI, Sept 23: Union Minister of State (Independent Charge) for Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh said here today that India is fast emerging as investors’ destination and this has been primarily possible because of a number of decisions taken by the Modi Government to bring in the ease of business.
As a result today, many of those Indians who had left the country decades ago and never found a reason to look back, are now keenly exploring the possibilities of returning back and investing in Modi’s India.
Addressing the CII (Confederation of Indian Industry) Conclave with focus on Northeast, Dr Jitendra Singh said, Northeast offers the most unexplored but fertile ground for new investments. It will, therefore, soon become the nodal point of New India’s growth story and supplement the accomplishments of western States to ensure wholesome supremacy for India in the emerging global arena, he said.
Dr Jitendra Singh credited the Modi Government for bringing in the ease of business and and at the same time focussing on “Act East Policy” aimed at giving India, strategic as well as trade advantage on the eastern borders.
The Ministry for Northeast / DoNER, Dr Jitendra Singh said, is proactively working to ensure that Northeast offers incentives to investors from other parts of the country and abroad. This will not only increase revenue generation and job opportunities, he said, but would also help supplement India’s foreign outreach in the form of “Act East Policy” because in order to effectively engage with countries distal to India’s eastern borders, we should first have to be effectively developed in the Indian States proximal to the eastern borders.
Describing the Northeast as a fast growing market with unexplored opportunities for investment, trade, tourism etc., Dr Jitendra Singh said, for India to emerge as a global economic power, it is important to realise the full potential of Northeast so that it can supplement the economic accomplishments of western States in order to ensure a wholesome growth for the entire country.
In the last 3 years, Dr Jitendra Singh said, a fast track headway has been made in improving connectivity, transport and infrastructure facilities in order to bring in ease of investment. He said, a lot much has been achieved in the last 3 years, which was not done for several decades in the past.
Dr Jitendra Singh said, the creation of Venture Capital fund for Northeast region with North Eastern Development Finance Corporation Ltd (NEDFi) is meant to provide capital for “Startups” in North-Eastern region and to attract investors. For this initiative, he said, a fund size of Rs.100 crore has been set up. This is a new breakthrough because it will attract young Startups not only from the region but from across the country, he added.
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