Union Textiles Minister to inaugurate first ever North East Investors’ Summit
The first ever “Investors Summit” exclusively for North Eastern Region (NER) would be inaugurated by the Union Textiles Minister, Smt. Smriti Zubin Irani in Shillong, on 29th January, 2017. 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.
The Union Minister for DoNER, Dr. Jitendra Singh; Chief Minister of Meghalaya, Shri Mukul Sangma; Minister of State, Home Affairs, Shri Kiren Rijiju; Minister of State, Textiles, Shri Ajay Tamta; Vice Chairman, NITI Aayog, Dr. Arvind Panagariya, and other dignitaries would also attend the summit.
The event will showcase the unique opportunities in textile manufacturing that the NER offers to the business world. It is expected to usher in a new era of collaboration, not only for investments but also for new skills and advanced production technology. The states of the NER would put up exclusive stalls and make presentations on investment opportunities in textile manufacturing in these states. The summit will have focussed sessions on Showcasing Opportunities in Textiles in North East, Entrepreneurship Development and Start-ups, Enhancing Reach of North East Textiles through Textile Design and Marketing, Ease of Financing of Textiles Industry in North East and Improving Infrastructure in NER. Various MoUs between industry bodies and state governments are expected to be signed during the summit, which would promote investment and boost manufacturing in the region. Buyer-Seller meets and exhibitions would also be held on both days of the summit.
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.
The decision to hold the summit was announced by the Union Textiles Minister, Smt. Smriti Zubin Irani, at the Annual Conference of State Textiles Ministers, held in New Delhi, on 10th November, 2016.