Sunday, October 21News That Matters

Prime Minister inaugurates Global Investment Summit in Assam

In Assam, the state’s first two-day Global Investment Summit is being organized from Saturday.

Emphasis is on promoting investments in the state and the North East. The connectivity of ASEAN countries with roads will create an opportunity for the investors. Businessmen like Ratan Tata and Mukesh Ambani are taking part in the Summit. Investor’s from Bhutan, Bangladesh, Germany and Japan as well as ASEAN countries are expected at the summit.

The conference was inaugurated by Prime Minister Narendra Modi. The focus of Prime Minister Narendra Modi has always been on development of North East states. The central government is carrying out many projects for the upliftment of the state.

During the last three and half years. Speedy work has been carried out on the development of road, rail and electricity infrastructure apart from education and health. The Global Investment Summit is another initiative to help people get jobs and spur economic growth.

The conference is not only a big opportunity for Assam’s economic development but also for the entire North-East region. Leading corporates from India and the world are expected to participate.

12 focus areas have been identified for the meet where investment is being solicited. In agriculture, the focus is on organic farming. Construction of Food processing centres is also targeted apart from intent to benefit tea producers and others.

The entire North East region is rich in natural resources. Water is available for generating hydel power but possibilities are plenty even when it comes to alternative sources of electricity. What’s needed is technology and investment.

Both the Centre and States in the region are working together for the purpose. To improve employment in the state, traditional businesses such as handloom, handcraft and bamboo-based industry are being encouraged.

Possibilities of developing textile, pharmaceutical and natural gas extraction are also being explored. The conference is also significant considering strengthening of ties between ASEAN countries and India.

The two day event starting on Saturday of February is also the state’s first investment summit and people are hopeful that it will add to the development of the entire region.

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