• The first ever “Investors Summit” exclusively for North Eastern Region (NER) would be inaugurated by the Union Textiles Minister.
• Focussed on manufacturing in textiles and allied sectors, the North East Investors Summit 2017 is being organized jointly by the Ministry of Textiles and the Ministry of DoNER of the Government of India, in collaboration with industry associations FICCI and CII, on 30-31 January, 2017 at Shillong.
• The theme being “Exploring Opportunities in North East Region”, the summit aims to showcase the NER as a global destination for investment, and to explore the possibility of bringing in convergence of efforts of various central Ministries and North Eastern States to attract investment in NER.
• The Summit will be attended by all North Eastern States, industries from North Eastern Region and leading investors across the country. It is expected to unlock the huge potential of the NER in textile manufacturing and generate new avenues for employment in the region.

Background

• North Eastern Region has huge potential for investments, particularly in the field of textiles and handicrafts, due to its inherent strength for skilled work force and locally available raw materials.
• Ministry of Textiles is implementing projects worth Rs. 1,050 crore for handlooms, handicrafts, sericulture, apparel & garmenting, technical textiles etc. in the eight states of North Eastern Region, in line with the “Act East” policy of the Government.
• These projects have created a foundation for further growth of manufacturing in textile sector. Other line Ministries too have schemes, where various incentives/ concessions are available for investments in NER. However, this information is mostly in silos and does not provide a comprehensive picture to the investors about the opportunities in North East.
• The Investors’ Summit seeks to address this concern as well.

Source:PIB