30 January 2017 Current Affairs: The North East Investors Summit 2017 was concluded on in Shillong, Meghalaya. The summit was held for two-days beginning on 29 January 2017. It was inaugurated by the Union Textiles Minister Zubin Irani.
Highlights of North East Investors Summit 2017 : It was the first ever investors summit exclusively for the North Eastern Region (NER).
It was organized jointly by the Union Ministry of Textiles and the Ministry of Development of North Eastern Region (DoNER) in association with the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Chamber of Commerce and Industry (CII).
The primary objective of the summit was to showcase the NER as a global destination for investment.
The summit also explored the possibility of bringing in the convergence of efforts of various central Ministries and North Eastern States to attract investment in the NER.
The Summit was attended by all the North Eastern States, Export Promotion Councils, industries from North Eastern Region and leading investors across the country.
The entire textile value chain from fibre to garment, including raw materials, was represented in the summit.The summit witnessed the participation of over 400 delegates from across the country.
During the summit, 15 Memorandums of Understanding (MoUs) were signed among local entrepreneurs, institutes and State Governments.
Due to its inherent strength for skilled work force and locally available raw materials, the North Eastern Region has huge potential for investments, particularly in the field of textiles and handicrafts. In order to leverage this potential, the Union Ministry of Textiles is implementing projects worth Rs. 1,050 crore for handlooms, handicrafts, sericulture, apparel, garmenting and technical textiles sectors.
Similar initiatives were launched by other line Ministries to boost investments in the NER.
However, this information is mostly in silos and does not provide a comprehensive picture to the investors about the opportunities in the region. The North East Investors Summit 2017 was held to address this concern.