Balance of Trade in North-Eastern Region

Balance of Trade in North-Eastern Region
The North East Region of India is endowed with natural resources. Also, due to continued focus on development of the region by the NE States supplemented by the Ministry of Development of North Eastern Region (DoNER), Planning Commission and other Central Ministries has led to substantial improvement in intra-regional connectivity, social and other physical infrastructure and capacity of human resources. Further, 96% of the North Eastern Region has long international borders with four neighbouring countries with several old overland routes. Given its competitive advantages and considerable potential, close proximity and immediate linkages with Bangladesh, Myanmar and other South East Asian countries offer robust opportunities for the North Eastern Region to emerge as a major manufacturing, trading and logistics hub for trade with the ASEAN Region. The consequent benefits to the country are also likely to be substantial.

Keeping in view the above factors, Government of India has focused on expeditious and time bound completion of major infrastructure projects of Rail, Road, Telecom, Inland Water Transport, Airports and Power in the North Eastern Region. Government of India has also taken steps for the development of road and port projects in Myanmar, improvement of customs facilities at the Indo-Myanmar border, development of road and rail connectivity in Bangladesh for access to sea ports and appropriate customs facilities at the Indo-Bangladesh border. Implementation of these major projects is being regularly reviewed at various levels.

Ministry of DoNER and Planning Commission have also taken the initiative to project the recent developments made in North Eastern Region through The North East Business Summit by highlighting the potential and upcoming opportunities, with the objective to invite domestic and foreign entrepreneurs to engage with North Eastern markets and to trigger large scale economic activities in the North Eastern Region that will enhance livelihoods and employment opportunities in the region.

This was stated by Dr. Jitendra Singh, the Minister of State (Independent Charge) for Development of North East Region in Lok Sabha today.
Balance of Trade in North-Eastern Region Balance of Trade in North-Eastern Region Reviewed by Ajit Kumar on 11:01 AM Rating: 5

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