PM Modi to inaugurate Rising Northeast Investors Summit on May 23

New Delhi: Prime Minister Narendra Modi will inaugurate a two-day investors summit on Friday that will showcase the investment potentials in the northeastern states and opportunities to access the captive markets in the region and the neighbouring countries.

The 'Rising Northeast Investors Summit', to be held here on May 23 and 24, aims to attract investments to the Northeast and will see the participation of chief ministers from northeastern states, Union ministers, top bureaucrats, foreign diplomats and more than 2,000 delegates, policy-makers, industry leaders and investors, among others, officials said.

They will participate in discussions across nine-plus priority sectors such as agriculture, food processing, textiles, tourism, entertainment, education, healthcare, IT and energy.

Minister for Development of North Eastern Region (DoNER), Jyotiraditya Scindia, said the greatest potential for India in the future is the northeastern region.

"The event will showcase our wonderful 'Ashta Lakshmi' -- our eight states, which stand at the heart of the transformative growth that our country represents," Scindia said.

The prime minister's resolve, commitment and vision aim to ensure that the northeastern region becomes the pivot for the future growth and the future path of India, as the country advances towards its goal of 'Viksit Bharat' by 2047, he said.

"Northeast's cultural tapestry along with the reservoir of natural resources and the strategic geographical positioning of the region have translated it into the most powerful gateway to Southeast Asia," Scindia said.

The minister also said that last 10 years' committed investment, the prime minister's resolve on infrastructure, healthcare and education have set the platform for the rise of the Northeast into an economic power, not just for India, but for the world.

The Northeast's geo-strategic advantage, abundant natural resources, skilled workforce and access to captive markets in the neighbouring countries will also be showcased at the summit, officials said.

The region is an emerging frontier for businesses and the summit will offer an ideal platform for forging alliances, partnerships and acquiring a clear vision of the opportunities available for expanding businesses, making new investments, setting up green field manufacturing projects and associated activities, an official in the DoNER ministry said.

The pre-summit activities organised by the ministry attracted investment proposals worth more than Rs 1 lakh crore across all the northeastern states, the officials said.

In the run-up to the summit, an Ambassadors' Meet was organised here in coordination with the Ministry of External Affairs on April 15 to give exposure to foreign investors on the northeastern region.

Ambassadors and high commissioners of more than 75 countries took part in the event.

Many industry houses and investors have already committed large amount of investment interest, while more than Rs 1 lakh crore worth of MoUs and letters of intent have already been signed, the officials said.