Department of Information and Public Relations

Press Release No. 340/08

VICE PRESIDENT OF INDIA INAUGURATES THE 4TH N. E. BUSINESS SUMMIT AT GUWAHATI

Vice President of India Shri Md. Hamid Ansari inaugurated the 4th North East Business Summit at Sarusajai Indoor Stadium, Guwahati in the presence of the DoNER Minister, Mr Mani Shankar Aiyar, Commerce Minister, Mr Jairam Ramesh and also the Chief Ministers of Manipur and Meghalaya, Mr O Ibobi Singh and Dr Donkupar Roy respectively among Ministers of other North Eastern States. The summit was also attended by delegates from many south Asian countries like Cambodia, Thailand, Myanmar, Singapore and others.

Speaking at the inaugural function, the Vice President said that the he is delighted to inaugurate the 4th North East Business Summit which aims at showcasing the investment potentials of the region. He said that the effort today is as much to overcome the physical and commercial isolation of this region, as it is to set aside its geo-political isolation and put it on the path of accelerated and inclusive growth.

He said that the North Eastern Region was among the prosperous regions of India at the time of independence and six decades later it lagged behind in different aspects of growth. He urged upon the businessmen participating in the summit to take full advantage of the N-E Industrial Investment and Promotion Policy. The Government is committed to converting diplomatic initiatives into commercial opportunities for the overall development of the North-Eastern Region.

The Vice President said that the need of the day for the North East region is closer integration with the national economy and the economy of the neighbouring countries in the region. He said that the Vision document has noted that the region should play “the arrow-head role....in the vanguard of the country’s Look-East Policy”. The Look East Policy was not just a foreign policy initiative. It was an amalgam of a strategic shift in our global perspective, an aspect of our economic reform process focused on enlargement of our external economic engagement accompanied by renewal of civilizational linkages with our neighbours in South East and East Asia.

The efforts of Prime Minister, Dr Manmohan Singh, DONER Minister, Mr Mani Shankar Aiyar and various Chief Ministers and Governors of the States of the Region have resulted in a plan of action and identification of sectors where private investments have immense opportunity. The Central and State governments are fully aware that good governance, adequate physical infrastructure and power supply, skilled manpower and peace and security are as important as concessions and incentives for attracting investments. The experience and example of Public Private Partnership in other parts of the country must be used for developing the infrastructure in this region.

Later in the plenary session, Meghalaya Chief Minister, Dr Donkupar Roy in his speech highlighted the potentials of the State of Meghalaya and the business opportunities available in the Meghalaya in the field of Agriculture, Horticulture, Tourism, Education, Industries and other sectors. He informed the gathering that the State Government of Meghalaya has taken a number of steps to facilitate the establishment of industry and enable its smooth and uninterrupted functioning.

Dr Roy informed that the Government of Meghalaya intends to establish Meghalaya as the ‘Fruit and Flower State of the Country and also Shillong as the Knowledge city. He also said that among the priorities of the State Government is power generation and is looking for investment in tapping the vast potential in the sector. Dr Roy also expressed his gratitude to the Government of India for launching the North East Industrial and Investment Promotion Policy (NEIIPP) 2007 which includes a package of fiscal incentives and other concessions for the North East Region. Concluding his speech, Dr Roy said that the State of Meghalaya welcome the National and International Investors to come and invest in Meghalaya and he also assured that the Government stands by its commitment to extend all possible assistance for the investors.