The Union Textiles Minister Smriti Zubin Irani inaugurated the 1st North East Investors’ Summit, organized jointly by the Ministry of Textiles and the Ministry of Development of North East Region (DoNER,) at the State Convention Centre, in Shillong.
Textiles Minister said that the huge participation in the summit showed not only the trust and belief in the investment opportunities in the North Eastern Region, but also the investors’ belief that the cooperation among the Government of India and Governments of North Eastern states will result in exponential multi-sectoral growth in the region.
The summit is being organised for the North Eastern Region, focusing on manufacturing in textiles and allied sectors; and to showcase the region as a global destination for investment and explore the possibility of convergence of efforts of various central Ministries and North Eastern States in attracting investment into the region.
Nearly 20 MoUs were signed on the occasion, to develop and promote NER handicrafts, handlooms, agro-textiles & geo-textiles. Various MoUs were signed to promote collaboration in the textiles sector, in each of the various states in the region.
Irani said in her address that twenty major railway projects specifically for the North East region, costing approximately 52 thousand crore rupees, have been taken up by the Government of India, to strengthen the infrastructure and investment opportunities in the region.
She highlighted that around 715 development projects in the region are being executed, including tie-ups with countries like Bangladesh, Myanmar and China through economic corridors, to ensure the success of the ‘Act East Policy’.
The Minister said that the Ministry of Textiles alone has sanctioned projects worth more than Rs. 1,040 crore for the North Eastern Region. She said that textile promotion schemes of handloom, handicrafts, sericulture and garmenting are being implemented, so that the Central government can add to the efforts of the state governments in creating more employment opportunities.