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Several MoUs signed to boost investment in NE

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  31 Jan 2017 12:00 AM GMT


SHILLONG, Jan 30: During the two-day 1st Northeast Investors Summit held at Shillong, a number memorandums of understanding (MoUs) were signed among local entrepreneurs, institutes and state governments which would promote investment and boost manufacturing in the region.

The theme being “Exploring Opportunities in North East Region”, the summit focused on manufacturing in textiles and allied sectors.

The two-day summit was organized jointly by the Ministry of Textiles and the Ministry of Development of North Eastern Region (DoNER), in collaboration with industry associations FICCI and CII.

The summit had focused sessions on showcasing opportunities in textiles in the region, entrepreneurship development and start-ups, enhancing reach of north east textiles through textile design and marketing, ease of fincing of textiles industry in northeast and improving infrastructure.

The summit also explored the possibility of bringing in the convergence of efforts of various central ministries and northeast states to attract investment in the region.

The summit witnessed the participation of over 400 delegates from across the country. The northeastern 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.

Meanwhile, the Ministry of Textiles is implementing projects worth Rs 1,050 crore for handlooms, handicrafts, sericulture, apparel and garmenting, technical textiles in the eight states of North Eastern Region, in line with the “Act East” policy of the Government.

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