The Hindu Business Line : CII makes a pitch for investments in North-East

New York, Sept. 27 A special pitch was made at the ongoing CII-Government of India sponsored ‘Incredible India@60’ campaign in New York to attract investment for the North Eastern States.

Underlining the potential for investments in the hydrocarbon sector in Assam, its Chief Minister, Mr Tarun Gogoi, said that though the proven crude oil reserve in Assam was over 1.3 billion tonnes and natural gas 158 billion cu.m., utilisation of these huge deposits was “insignificant”.

Also, Assam coal had unique properties such as high volatile matter, high sulphur and calorific value but low ash content and it presents big opportunities for liquefaction, desulphurisation and coal-based power plants.

Bountiful water resources, opportunities for organic farming and an educated, English speaking population were other assets of the State. “Best of all is our tea, but unfortunately, marketing efforts, not only for Assam tea but also Indian tea, are lacking.”

Similarly the Manipur Chief Minister, Mr O. Ibobi Singh, invited investment into his State, saying it was blessed with a wonderful climate, abundant natural resources and good agro-climatic conditions, which lent themselves to horticultural products.

The “scenic beauty, glorious cultural heritage, mosaic of tribal and non-tribal culture, bio and ethnic diversity and a pollution-free environment”, made it an ideal place for tourism, particularly adventure and eco-tourism.

Huge avenue

Mr Dipankar Chatterji, Chairman of CII, North East Council, said that the eight north eastern states presented a tremendous opportunity for profitable investment.

What was not so well known was this region of India which was not as densely populated as the rest of the country and the per capita income was also comparatively higher.

“Nearly 54 per cent of the land area of the North East is forest, so it provides ample scope for tourism.” Also tax breaks and government subsidies made it an attractive region for investment.

Two areas which provided a huge scope were the fruit processing industry, which was grossly inadequate when compared to a country like Thailand; an educated and English-speaking population also made it an ideal destination for investments in IT and ITES.

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