Indian diaspora returning with investments
India is fast emerging as investors’ destination and this has been primarily possible because of a number of decisions taken by the Union Government to bring in the ease of business.
“As a result, 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 India,” said Dr Jitendra Singh, Minister of State for Development of North Eastern Region (DoNER)
Addressing the North East Infrastructure Conclave on 23 September 2017, Singh said the Northeast offers the most unexplored but fertile ground for new investments.
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 the region.
“This is a new breakthrough because it will attract young Startups not only from the region but from across the country,” he added.
“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.
Singh credited the Union Government for bringing in the ease of business and at the same time focusing on “Act East Policy” aimed at giving India, strategic as well as trade advantage on the eastern borders.
DoNER Ministry is proactively working to ensure that Northeast offers incentives to investors from other parts of the country and abroad, he assured.
He highlighted the region’s niche products. For example, Arunachal Pradesh and Meghalaya have the potential to produce a number of products and goods which will find easy takers in eastern countries like Myanmar and Bhutan which have common eating habits and common lifestyle, Singh elaborated.
The textile and handloom products from Northeast have a unique and original value, but there are less number of takers because the people outside the region are not fully aware of it, he pointed out.
The conclave was organized by the Confedertion of Indian Industry. fii-news.com
