EU-India Roundtable Explores Northeast India's Economic Potential

Shillong: On Tuesday, Shillong hosted a roundtable discussion on European Union initiatives targeted at bolstering Northeastern economic development. The discussion, which was organised by the Asian Confluence in partnership with the Centre for Responsible Business, included Meghalayan government officials, academics, prominent media professionals, and institutional leaders.

Franck Viault, Head of Cooperation at the EU Delegation to India and Bhutan, opened the meeting. Viault underlined how crucial EU-India cooperation is becoming, especially in terms of opening up economic prospects for the Northeast. He emphasised how the EU can make important contributions to sustainable development through partnerships and strategic investments.

The conversation centred on a number of important topics that are vital to the economic development of the area. The creation of a Northeast value chain that would allow the area to capitalise on its distinct advantages and natural resources was one of the main topics. In order to greatly advance the region's economy, participants emphasised the necessity of increasing the volume and market readiness of important regional commodities.

The Northeast's bio-economy's potential was one of the most noteworthy subjects. The region's abundant biodiversity offers special chances for sustainable economic growth, and participants emphasise how crucial it is to take advantage of these resources for sustained expansion.

Making sure that investments made in the area are climate-proof was another important topic covered. In order to increase the Northeast's resilience to environmental changes, it was stressed that investments must be in line with global sustainability goals.

In order to improve mobility and promote closer cooperation between the Northeast and European counterparts, a suggestion was also made to create a visa processing hub in Northeast India. Participants pointed out that this would encourage closer cultural and economic linkages between the two areas.

In June 2023, the Ministry of External Affairs (MEA), the European Union, and the Asian Confluence sponsored the "Global Gateway" conference, which was followed by a series of roundtable sessions. With a focus on coordinating economic growth with sustainability and regional interests, the event provided a valuable forum for investigating feasible avenues for promoting EU investment in Northeast India.

Ecological, intellectual, economic, technological, political, and security links are all being strengthened by the Asian Confluence, which both starts and speeds up the resurgence of common civilisational values between India and Southeast and East Asia.

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