Northeast business summit to begin Friday in Kolkata

AGARTALA - A two-day business summit on north-east India will begin in Kolkata Friday to attract investment to the region, Tripura Industry and Commerce Minister Jitendra Choudhury said here Wednesday.

The ministry of development of north-eastern region (DoNER) and the Indian Chamber of Commerce are jointly organising the summit, where investors from Nepal, Bhutan, Bangladesh, Singapore, Thailand, Myanmar and Cambodia are expected to participate.

“Investors and businessmen from different parts of India and abroad want to harness the region’s untapped resources,” Choudhury told reporters.

“Mineral and forest resources still remain untouched in north-east India. Tourism, healthcare, handloom and handicraft, agriculture, horticulture and food processing are also potential investment sectors,” he added.

The region is adjacent to China, Myanmar, Bhutan and Bangladesh, which Choudhury said was “an advantage for attracting foreign investment”.

At least seven central ministers including Finance Minister Pranab Mukherjee, DoNER Minister B.K. Handique, Food Processing Minister Subodh Kant Sahay and Commerce Minister Anand Sharma are expected to attend the summit.

This will be the fifth business summit to promote the region’s industrial prospect. Earlier, such meets had been held in Mumbai, New Delhi, Guwahati and Thailand.

“The central and state governments are providing several incentives, subsidies and tax holidays for ventures in the north-eastern region,” Choudhury said.

The central government’s incentive package scheme, first implemented in December 1997, was re-introduced as the North East Industrial and Investment Promotion Policy in April 2007.