Northeast development, India growth story linked: PM

Guwahati: While making a hard pitch for his government’s economic policies and reforms, Prime Minister Narendra Modi on Saturday courted the Northeast by claiming that the north-eastern states’ development is intrinsic to India’s growth story.

Inaugurating the first Global Investors Summit here, Mr Modi said that the Northeast is at the heart of the “Act East Policy” of the government and “Advantage Assam, India’s expressway to Asean” is not just a tagline but a comprehensive vision.

The two-day first edition of the Assam Global Investors’ Summit aims at highlighting Assam’s core competencies in different sectors along with the policy initiatives taken by the state government.

The Prime Minister, talking about the achievements of his government at length, said, “We created the Act East Policy and the Northeast is at the heart of it. The Act East Policy requires increased people-to-people contact, trade ties and other relations with countries on India’s east, particularly Asean countries.”

The event is being attended by Bhutanese Prime Minister Tshering Tobgay, several Union ministers, Assam chief minister Sarbananda Sonowal, chief ministers of Arunachal Pradesh and Manipur, ambassadors and high commissioners of 16 countries, RIL chairman Mukesh Ambani and Tata Sons chairman N. Chandrasekharan, besides other.

The summit to promote development in the Northeast comes at a time when three states — Tripura, Nagaland and Meghalaya — are scheduled to hold Assembly polls this month.

Mr Modi said that due to economic reforms, India is today the most preferred investment destination in the world with the country attracting the highest FDI in the last fiscal at $60 billion. He also highlighted the country’s improved credit rating, low inflation rate and opening of various sectors to FDI.

“The world sees India today as an emerging power house for economic growth,” he said.

Mr Modi said that his government has changed the work culture of the official machinery, giving it greater speed. “We want all projects to be completed before target,” he said.

Pointing to initiatives announced in the Budget on health insurance and free cooking gas connection for the poor and transparency in tax regime, the Prime Minister said that all the schemes of the Union government are oriented towards bringing about a qualitative change in the lives of the people.

“The aim is to improve “ease of living”, the Prime Minister said.

Mr Modi also expressed happiness that Assam is ranked the highest among the states for ease of doing business. Asking investors to avail the improved investment environment in India, Mr Modi said that Guwahati is being developed into a Smart City.

“Power schemes worth more than Rs 10,000 crore have been initiated in the Northeast. Guwahati will soon have a world class airport terminal,” he said.

“In the last three years, the government has spent more than Rs 5,000 crore on development of railways in the Northeast. The construction of 15 new rail lines is underway. Rail connectivity between Tripura and Bangladesh will also be developed,” he said.

Mr Ambani committed to make an investment of Rs 2,500 crore in next three years in Assam in sectors like tourism, telecom and related areas.

Mr Chandrasekaran announced that the Tata Group will join hands with the Assam government to roll out a cancer care programme across 15 districts from next year. The Indian Oil Corporation will invest Rs 3,400 crore in Assam over the next five years.