Financial Daily from THE HINDU group of publications
Sunday, Oct 30, 2005
Financial Daily from THE HINDU group of publications Sunday, Oct 30, 2005 |
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Industry & Economy
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Foreign Trade Corporate - New Projects Foundation stone laid for ONGC Tripura Power unit — Free trade agreements will benefit N-E region: PM Pratim Ranjan Bose
Agartala , Oct. 29 THE Prime Minister, Dr Manmohan Singh, said on Saturday that the North-Eastern region of the country was standing on the threshold of a historic opportunity as India was hoping to sign a free trade agreement with the Asean region. Addressing the foundation stone laying ceremony of a 750 MW gas-based power station to be set up by ONGC Tripura Power Company at Palatana in South Tripura district, roughly 60 km from the State capital, the Prime Minister said: "A new era of possibilities is very much round the corner. Trade with our neighbours is expanding. We hope to sign a free trade agreement with the ASEAN region. "Hopefully, a similar agreement will take place with the SAARC countries in the form of SAFTA." Incidentally, Dr Singh is the first Prime Minister to visit Tripura in eight years. "Once the existing trade barriers come down and transport bottlenecks are resolved, I foresee a future where the North-East becomes our bridge to a dynamic, fast growing South-East Asia." Commenting on the lack of economic growth in Tripura as well as the rest of the North-Eastern States, the Prime Minister blamed lack of connectivity as a prime reason behind the low growth rates of the region. "If the region has lagged behind the rest of the country, it is partly because we have not developed connectivity (including road, rail, air and telecom connectivity) of the region," he said. "Tucked away in this beautiful corner, you must not feel you are in an island of tranquillity, isolated from a fast changing world," he said.
Fencing work progressing
The Prime Minister took strong exception to the incidents of cross border terrorism in the North-Eastern States. Talking about the extremist problem in Tripura, which is land-locked by Bangladesh and Myanmar, he said: "We are aware that there are instances of extremist groups taking shelter and operating from the territories of the neighbouring countries. "Some agencies of foreign governments and other elements inimical to us have also been assisting such activities." Dr Singh said the ongoing fencing work on the Indo-Bangla border should bring down the extremism problem. "The fencing work is progressing well," he added.
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