Stage is set for northeast Indian states to rise with Rs 4.3 lakh crore investment proposals
This is the first investment summit organised on this scale since the inception of the Ministry of the Department of North Eastern Region (MDoNER).
Industry leaders, including Mukesh Ambani, Chairman of Reliance Industries, Gautam Adani, Chairperson of Adani Group, and Anil Agarwal, Chairman of Vedanta, collectively announced investments worth more than Rs 155,000 crore to explore opportunities in the region during the event's inauguration ceremony, on Friday morning, in presence of Prime Minister Narendra Modi.
According to a statement from MDoNER, Mukesh Ambani pledged Rs 75,000 crore over the next five years, targeting agriculture, telecommunications, digital services, and local enterprise development.
Gautam Adani announced an additional Rs 50,000 crore investment over the next decade, and Anil Agarwal announced more than Rs 30,000 crore investment in the northeast Indian states.
'I reaffirm our promise: every MoU, every proposal discussed here will be pursued relentlessly. The Northeast Region, our NER, now embarks on a journey of New Economic Revolution, a New Economic Revival -- where it will emerge as India's International Gateway to Southeast Asia,' said the Union Minister of DoNER, Jyotiraditya Scindia, in his concluding remarks on Saturday afternoon.
The investment summit hosted ministerial sessions, Business-to-Government sessions, Business-to-Business meetings, startups, and exhibitions of policy and related initiatives taken by state governments and central ministries for investment promotion.
The two-day Summit is the culmination of various pre-summit activities, such as a series of roadshows and states' roundtables, including the Ambassador's Meet and the Bilateral Chambers Meet, organised by the central government with active support from the state governments of the northeastern region. The pre-summit roadshows were held in Mumbai, Bengaluru, Ahmedabad, Chennai, Hyderabad, Kolkata, Guwahati, and New Delhi, among others.
In the inaugural ceremony of the summit held on Friday, the Prime Minister highlighted that over the past decade, Rs 21,000 crore has been invested in the Northeast's education sector. He noted key developments, including the establishment of over 800 new schools, the region's first AIIMS, nine new medical colleges, and two new IIITs. The Prime Minister assured that the Northeast now offers top-tier talent across various sectors, encouraging industries and investors to leverage the region's immense potential.
The prime minister noted that a whole new sky of possibilities is opening up for the northeastern states. He also cited a few initiatives taken by his government to improve trade linkages with neighbouring countries.
'In the coming decade, the trade potential of the Northeast is set to grow manifold,' PM Modi had said.
Noting that the trade volume between Indian and ASEAN countries is around USD 125 billion, the prime minister said it will surpass USD 200 billion in the next decade, and the Northeast will become a strong bridge for this trade.
Once fully operational, the India-Myanmar-Thailand Trilateral Highway will establish direct connectivity to Thailand through Myanmar. This will ease India's connectivity with countries like Thailand, Vietnam, and Laos.
'Our government is also working swiftly to complete the Kaladan Multimodal Transit Project, which will connect the Kolkata Port to Sittwe Port in Myanmar, and further link the rest of the Northeast via Mizoram. This will significantly reduce the distance between West Bengal and Mizoram and prove to be a major boon for industry and trade,' PM Modi said.
The northeast region's GSDP at current prices is Rs 9.26 lakh crore in 2023-24. GSDP of NER states grew at a CAGR of 10.8 per cent, from 2014-15 to 2021-22 (against the national average of 8.1 per cent). (ANI)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
4 minutes ago
- Time of India
Marico's food biz crosses Rs 900 cr revenue mark in FY25
Bengaluru: FMCG major Marico in its annual report said that its foods portfolio, which comprises Saffola Oats , Saffola Soya Chunks , Saffola Honey, and ready-to-eat snacks, surpassed revenues of Rs 900 crore in FY25, reporting a 33 per cent year-on-year growth. 'Foods surpassed the Rs 900 crore mark this year, reaching ~5x of the FY20 scale. While the core franchises fared well, we leveraged the Saffola brand further to launch Muesli, Masala Millets and Cuppa Oats during the year,' said Saugata Gupta, MD and CEO, Marico in the report. The report stated that the growth in the food segment was fueled by healthy momentum in core franchises, as well as the accelerated scale-up of Plix and True Elements' nutraceuticals portfolio. Saffola Oats, which, as per the company's annual report, is in the number 1 position in the Indian Oats category, delivered double-digit growth while continuing to gain volume market share. Another key product - Saffola Soya Chunks, the FMCG giant said, is on track to become a Rs 100-plus crore brand in the medium term. Diversifying its presence in the ready-to-eat snacks category, Marico relaunched its Saffola Crunchiez Ragi Chips and partnered with ace cricketer Rohit Sharma to launch a co-owned sub-brand under True Elements. 'We remain confident of sustaining over 25% growth over the medium term, which would take the business to approximately 8x its FY20 scale, as we continue to enhance profitability within the category,' said Gupta adding that the company has expanded its gross margins by 1,000 bps over FY24 and FY25 in its foods portfolio, and expects a gradual margin expansion as the business scales in the medium term. The report highlighted that to accelerate growth in the segment, Marico is expanding reach through deeper outlet penetration, increasing shelf visibility in both general trade and modern trade, and driving e-commerce adoption. Commenting on distribution channels, the company said that modern trade and e-commerce continued to gain momentum, as general trade remained under pressure. Quick commerce, which is rapidly scaling, contributed 3 per cent to Marico's India business in FY25. In FY25, Marico's revenue from operations increased to Rs 10,831 crore with an EBITDA of Rs 2,139 crore. 'As we now build the next phase of transformation, our ambition is to achieve the next Rs 10,000 crore in revenues over the next 5 years,' said Gupta.
Hans India
9 minutes ago
- Hans India
A host of amenities provided at 88th ward
Visakhapatnam: Greater Visakhapatnam Municipal Corporation Mayor Peela Srinivasa Rao mentioned that the coalition government will work towards development of the city. On Friday, along with Pendurthi MLA Panchakarla Ramesh Babu and ward corporator M Mutyala Naidu, he laid foundation stone for various development projects worth Rs 3.13 crore in 88th ward. Speaking on the occasion, the Mayor said that the NDA government led by Chief Minister N Chandrababu Naidu will develop State on all fronts in a consistent manner. He said that Visakhapatnam is a very attractive city and there is a need to develop the city to draw more number of tourists. Srinivasa Rao stated that that as part of facilitating infrastructure for the people, CC roads, CC canals, CC culverts, box culverts are being constructed in Bangarupeta, Indira Nagar, Mutyamamba colony, Kothur, Nagaraju Thota, Kunchuvanipalem, Gangavaram and other areas in the ward. The Mayor instructed the GVMC engineering officials to commence works at the earliest and complete them within the stipulated time. Speaking on the occasion, MLA Panchakarla Ramesh Babu said that the coalition government is providing welfare schemes and focusing on various development programmes across the state. GVMC 6th zone commissioner BRS Seshadri, executive engineer MRS Prasad, assistantengineer Kedarnath, TDP and Jana Sena party leaders and GVMC staff participated in the programme.
Hans India
9 minutes ago
- Hans India
New Credai Hyd team pushes for reforms, infra boost
Hyderabad: The newly-elected leadership of CredaiHyderabad has unveiled a progressive roadmap for the city's real estate sector, pledging holistic development, policy reforms, and infrastructure support. In its first formal media interaction since taking office on June 20, the committee outlined its vision for a more inclusive, transparent, and investment-friendly property market. N Jaideep Reddy, president, Confederation of Real Estate Developers' Associations of India (Credai) – Hyderabad, described the new leadership team as 'young, diverse, and energetic', representing all geographical quadrants—North, South, East, and West Hyderabad. He emphasised that many of the current office bearers are second-generation developers who rose through the Credai Youth Wing, which now comprises over 100 active members. 'Our team is rooted in experience and driven by fresh energy,' Reddy said. Within just three weeks of assuming charge, Credai Hyderabad has initiated dialogues with key government departments, especially the Municipal Administration and Urban Development (MAUD), to address long-pending regulatory and operational challenges. Reddy termed the government's response 'very positive', citing encouraging movement on stalled issues. The real estate sector in Hyderabad continues to exhibit strong fundamentals. According to Credai, property registrations in May 2025 alone crossed Rs 4,300 crore, registering a 14 per cent year-on-year growth. This surge, Reddy noted, is supported by Hyderabad's expanding employment hubs, a favorable investment climate, and ongoing infrastructure upgrades. Looking ahead, the city is expected to add nearly 200 million square feet of office space by 2026, fueled by rising demand from Global Capability Centers (GCCs) and sustained public investment in infrastructure. Projects such as the Regional Ring Road (RRR), Phase-II of the Metro Rail, and elevated corridors are set to significantly boost urban connectivity and ease mobility across the city. A major initiative announced was a mega property exhibition scheduled for August 15–17 at the Hitex Exhibition Center. The event will showcase over 300 real estate projects, including luxury apartments, villas, and gated communities, across more than 70 stalls in two large halls spanning 80,000 square feet. 'This show will be a one-stop destination for homebuyers to compare, clarify, and choose properties under a single roof,' said Credai convenor Kurra Srinath. The exhibition will also feature cultural elements such as Telangana's traditional art, crafts, and food courts to create a festive atmosphere for families. CredaiHyderabad is also pressing for key regulatory reforms. The body called for a reduction in stamp duty and simplification of approval processes, which are currently mired in bureaucratic delays across departments such as HMDA, GHMC, and the Water Board. Developers are often required to obtain water feasibility certificates despite the absence of a standard process. 'To truly improve ease of doing business, we urge the state to unify these services under a single-window clearance system that integrates fire safety, electricity, water, and municipal permissions,' said a Credai representative. Another contentious regulation under scrutiny is the mortgage clause mandated by GO 86, which requires developers to mortgage 10 per cent of the land. 'Given the full implementation of RERA, this clause is outdated. We are requesting its revision or removal,' Credai leaders argued. Responding to perceptions that West Hyderabad is the city's only growth zone, the leadership highlighted robust developments across North, East, and South. 'The people tend to focus on the West due to higher visibility and marketing, but the real growth is across the city,' they asserted. With recent rate cuts by the Reserve Bank of India making home loans more affordable, Credai Hyderabad believes now is an ideal time for buyers to invest. 'Hyderabad remains more affordable than metros like Bengaluru or Chennai. With better infrastructure and quality of life, the timing couldn't be better,' they added. Concluding, Reddy reiterated the association's commitment to sustainable, inclusive growth and collaboration with all stakeholders. 'CredaiHyderabad is ready to lead from the front and ensure our city remains one of India's most vibrant real estate destinations.'
