Rising Northeast Summit Gets Investment Proposals of Rs 4.3 lakh crore: Scindia

The two-day Rising Northeast Investors Summit, where investment potentials of the northeastern states were showcased, could draw an unprecedented Rs 4.3 lakh crore worth of investment proposals to the region, Union minister Jyotiraditya Scindia said.

The summit, inaugurated by Prime Minister Narendra Modi, was held here on May 23-24 where chief ministers of all the northeastern states, Union ministers, industry leaders, diplomats and others took part.

Scindia, the Minister for Development of North Eastern Region (DoNER), said the ministry has created eight high-level task forces across key sectors -- agriculture, sports, investment promotion, tourism, economic corridors, infrastructure, textiles and handicrafts, and animal husbandry -- allowing each state to chart its own roadmap, according to an official statement.

He said the DoNER ministry has been holding discussions with different stakeholders, including investors, foreign diplomats and ambassadors, encouraging them to explore investment opportunities in the northeastern states.

In the last one year, the ministry led an extensive nationwide and international engagement effort in this direction, the statement said.

The key initiatives include nine domestic roadshows across major Indian cities, ambassadors' meets with representatives from over 95 countries, six state roundtables, six sector-specific industry interactions, and numerous consultations with PSUs, industry chambers, and corporates.

"These discussions have borne real fruit of investment proposals of Rs 4.30 lakh crore," Scindia said.

In his valedictory address, the minister said the Northeast has emerged as a hub of global partnership and mutual interest.

He said the summit drew an unprecedented Rs 4.3 lakh crore in investment interests, setting the stage for the Northeast to become India's next economic powerhouse.

"We welcomed delegations from over 80 countries -- from Japan to Europe to ASEAN nations -- and there was one unanimous sentiment: India's future lies in Northeast," he said.

Scindia also praised Prime Minister Modi for not just recognising the vast potential of the northeastern region but also embracing it.

The minister said for six decades after Independence, successive governments failed to recognise the vast potential of this region -- a land that once contributed nearly 20 per cent to India's GDP.

But Prime Minister Modi not only understood this potential, he embraced it, Scindia said, adding that under Modi's leadership, "we adopted a whole-of-government approach".

He also said this is the first time since the inception of the DoNER ministry that an investment summit has been organised on this scale.

On Friday, industry leaders, including Reliance Industries Chairman Mukesh Ambani, Adani Group Chairperson Gautam Adani, and Anil Agarwal, Chairman of Vedanta, collectively announced investments worth more than Rs 1,55,000 crore to explore opportunities in the northeastern region, the statement said.

While Ambani pledged Rs 75,000 crore over the next five years, targeting agriculture, telecommunications, digital services and local enterprise development, Adani announced an additional Rs 50,000 crore investment over the next decade.

Agarwal announced more than Rs 30,000 crore worth of investment in the Northeast, the statement said.