Northeast secures ₹4.3 trillion investment proposals at MDoNER Summit
In a statement released on 25 May, MDoNER said it has been holding extensive discussions with various stakeholders, including ambassadors, diplomats, and investors to promote investment opportunities in the Northeast.
These included 'Ambassadors' Meets' involving representatives from over 95 countries, six state-focused roundtables, six sector-specific industry interactions, and multiple consultations with PSUs, business chambers, and corporate houses.
'These discussions have borne real fruit in the form of ₹ 4.3 lakh crore worth of investment proposals,' said Jyotiraditya Scindia, minister for communications and development of the north eastern region.
On the summit's opening day, business leaders including Reliance Industries chairman Mukesh Ambani, Adani Group chairperson Gautam Adani, and Vedanta chairman Anil Agarwal announced plans to invest more than ₹ 1.55 trillion in the region.
Mint had reported on 14 May that the government was targeting cumulative proposals of ₹ 2.5–3 trillion, figures now surpassed by the summit's final tally.
To ensure effective implementation, MDoNER has set up eight sectoral task forces focusing on agriculture, sports, investment promotion, tourism, economic corridors, infrastructure, textiles and handicrafts, and animal husbandry. Each northeastern state will also develop its own sectoral roadmap, Scindia said.
'We will continue B2G and B2B dialogues, with MDoNER acting as a bridge between investors and state governments to ensure rapid conversion of proposals into on-ground projects,' he added.
Read this | https://www.livemint.com/economy/msmes-fema-regulations-exports-and-imports-11747196708611.html
Sukanta Majumdar, minister of state for DoNER, highlighted the region's infrastructure gains over the past decade.
'National highways in the region have grown from 10,905 km in 2014 to 16,207 km in 2024. Power capacity has risen by 694.5 megawatts, and over 10,000 circuit kilometers of transmission and distribution lines have been added. The number of operational airports has nearly doubled—from nine in 2014 to 17 in 2024,' he said.
Scindia also underlined the Northeast's historical economic importance. 'For six decades after Independence, successive governments failed to recognize the vast potential of this land—which once contributed nearly 20% to India's GDP,' he said. 'The ₹ 4.3 lakh crore (trillion) investment pipeline can help transform it into an economic powerhouse.'
The proposed investments will be spread across all eight Northeastern states—Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, and Tripura. Scindia added that the region also holds strategic potential as a gateway to Southeast Asia.
At the summit's curtain raiser earlier this month, MDoNER had shared a breakdown of 732 investment proposals worth ₹ 1.12 lakh crore already in the pipeline: Arunachal Pradesh: ₹ 24,338 crore (77 proposals), Assam: ₹ 38,685 crore (106 proposals), Manipur: ₹ 2,919 crore (39 proposals), Meghalaya: ₹ 14,753 crore (110 proposals), Mizoram: ₹ 5,111 crore (75 proposals), Nagaland: ₹ 8,671 crore (82 proposals), Sikkim: ₹ 6,747 crore (110 proposals), and Tripura: ₹ 11,755 crore (132 proposals).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
35 minutes ago
- Time of India
Geopolitical winds set to sweeten India's apple harvest
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi: An apple a day - but at a price set by geopolitics. With Turkey Iran and Afghanistan emerging as the top three apple import sources for India, shifting geopolitical dynamics are expected to play an outsized role in shaping prices this harvest season, beginning in Delhi's Azadpur Fruit and Vegetable Market - arguably Asia's largest - traders may continue to steer clear of imports from Turkey, which was India's largest apple supplier last fiscal year with shipments worth $97 million. The reluctance stems from prevailing negative sentiment toward Ankara over its active support for Islamabad during the recent India-Pakistan conflict, two traders have told the challenge is the continued closure of the Attari-Wagah border between India and Pakistan since May has effectively halted the entry of apples from Afghanistan - typically the most affordable among all imported varieties - into the Indian market. The disruption may contribute to a rise in prices of domestic apples from Kashmir and Himachal Pradesh, whose harvest peaks between August and October, when traders will buy and store the apples for the months to come."Apples from Afghanistan, which are sold for Rs 40-65 per kg in the wholesale market, are cheaper than Kashmir or Himachal apples, which cost between Rs 60 and Rs 90 per kg," says Pawan Chhabra, fruit merchant and owner of Adarsh Fruits.'Production costs in Afghanistan are extremely low, and on top of that, the imports are duty-free under an agreement (South Asia Free Trade Area agreement),' he says, adding that he won't be surprised if the cost of domestic apples rises in the upcoming season.'While the conflict in Iran has paused for now, many importers remain cautious about sourcing Iranian apples due to the high risks involved,' says another fruit importer, requesting anonymity. 'In recent years, most Indian importers have operated more like commission agents for Iranian exporters, earning a cut of 4-6% on each sale.'While apple production in India — primarily concentrated in Jammu & Kashmir and Himachal Pradesh — is estimated at around 2.4 million metric tonnes, domestic consumption exceeds this output. Just last financial year, India imported 34,000 tonnes of apples valued at $450 million, a 12% year-on-year rise in terms of value.
Time of India
40 minutes ago
- Time of India
Market share of Ganganagar Sugar Mill plummets from 92% to 11% in five years
Jaipur: The Rajasthan State Ganganagar Sugar Mill (RSGSM), once a dominant force in the Rajasthan Made Liquor (RML) segment, has witnessed a dramatic decline in its market share—from 92.54% in 2019–20 to just 10.88% in 2024–25. In contrast, a private company selling RML expanded its share over the same period, rising from 7.46% to 70.76%. RML was introduced in 2019–20 as a low-cost alternative to Indian-Made Foreign Liquor (IMFL), with the aim of promoting and financially strengthening RSGSM. At the time of its launch, RSGSM was the principal producer. However, despite steady growth in overall RML sales—crossing 60 lakh cases annually—RSGSM's contribution continued to shrink. According to documents accessed by TOI for 2024–25, out of a total of 60.24 lakh RML cartons sold, the private firm accounted for 42.63 lakh cartons (70.76%), RSGSM sold 6.56 lakh cartons (10.88%) and the remaining 12% was divided among a dozen other companies. Over the past six years, RSGSM's presence in the RML market steadily eroded. From a commanding 92.54% share in 2019–20, it dropped to 32.57% in 2020–21, then to 30.99% in 2021–22, 27.46% in 2022–23, 25.17% in 2023–24, and finally to 10.88% in 2024–25. This sustained decline marks a significant setback for the state-run enterprise in a segment it once dominated. A senior official, speaking on the condition of anonymity, said, "The policy needs to be reviewed, as it triggered a steep decline in RSGSM's sales. Earlier, contractors were mandated to purchase 40% of their RML stock from RSGSM under a rider clause. This requirement was later reduced to 25% and eventually made optional. Under the revised rules, contractors opting out of purchasing RSGSM's products could choose private brands instead by paying Rs 10 per bulk litre or Rs 87 per case. " The data shows that while several private companies expanded their presence in the RML segment, one private firm recorded the most significant growth—its market share increasing more than tenfold since the launch of RML. Sources alleged that a nexus between private players and officials in the excise and finance departments enabled this company to corner 70% of the total orders.
Indian Express
an hour ago
- Indian Express
Hope to live, serve Tibetan beings for 30-40 years more: Dalai Lama
Tibetan spiritual leader the Dalai Lama Saturday said that he hopes to live for another 30 to 40 years, until he is 130 years old, days after he said the Gaden Phodrang Trust will be 'solely responsible' for finding his reincarnation. He turns 90 on Sunday. 'I hope to still live for 30 or 40 more years. Your prayers have borne fruit so far…We have lost our country and we live in exile in India. But, I have been able to benefit the beings (of Tibet) quite a lot. So, living here in Dharamsala I intend to benefit, serve beings and the dharma as much as I can,' the Dalai Lama said. He was speaking at the prayer ceremony ahead of his 90th birth anniversary at Tsuglagkhang, the main Dalai Lama temple in McLeodganj. On July 2, the Dalai Lama had announced the 'institution of the Dalai Lama will continue', and his Ganden Phodrang Trust in the office of the Dalai Lama will be 'solely responsible' for finding his reincarnation. The Tibetan government-in-exile has organised a weeklong series of events to celebrate the Dalai Lama's 90th birthday. The long life prayers were offered by his followers, the Kashag (council of ministers), Central Tibetan Administration (Tibetan government-in-exile). The ceremony is considered a prelude to a year-long 'Year of Compassion' celebration, highlighting Tibetans' cultural and traditional legacy. Union ministers Kiren Rijiju and Rajiv Ranjan Singh, Arunachal Pradesh CM Pema Khandu, Hollywood actor and Chair of the International Campaign for Tibet (ICT) Richard Gere, several Indian as well as US government diplomats, senior Lamas, heads of all four Tibetan Buddhism schools were among the dignitaries who attended the ceremony. Earlier, the Dalai Lama reached the temple's courtyard from his private residence in a golf cart. Hundreds of Buddhist monks, Tibetan Buddhism followers and tourists thronged the Tsuglagkhang temple to catch a glimpse of the spiritual leader. The Dalai Lama said that ever since he was a child, he had the feeling that he had a strong connection with Avalokiteshvara. 'Looking at the many prophecies, I feel I have blessings of the Avalokiteshvara… today, here we have Gods, and representatives of Gods, and humans gathering the auspicious circumstances for my long life…I have been able to serve the Buddha Dharma and beings of Tibet so far quite well and still I hope to live over 130 years', the Dalai Lama said. On the occasion, the Dalai Lama also recalled meeting Chinese leader Mao Zedong. On Sunday, the Dalai Lama will attend the public programme organised by the Kashag, on behalf of all Tibetan people and address the gathering.
