Centre for increased economic activity with neighbours

Headlines Vol. 3 Issue No. 30

July 1-15, 2007

Centre for increased economic activity with neighbours

“India is aware of the geo-economic potential of the NE as a getaway to East and South East Asia,” says Pranab Mukherjee.

“By integrating the NE region through cross border market access, it can become the bridge between the Indian economy and what is beyond doubt the fastest growing and dynamic region in the world, due to the paradigm shift from state centralism to interdependence and global and regional cooperation. India is aware of the geo-economic potential of the NE Region as a getaway to East and South East Asia, said External Affairs Minister Pranab Mukherjee.

Speaking at a seminar at a seminar on ‘Look East Policy: Geography as an Opportunity’, Mr. Mukherjee said that the Government of India is already involved in a variety of cross border development projects with Myanmar in diverse fields as roads, railways, telecommunications, IT, science and technology, power etc. to improve connectivity between NE States and Myanmar.

Incentives have also been taken to develop transport systems with Bangladesh and export of raw material and agricultural produce to Bhutan. Besides, modification in the North East Industrial Policy 1997 through the North East Industrial and Investment Promotion Policy 2007 will help to give a boost in investment in the NE Region by providing for higher incentives for industrial development and investment promotion.

Developing ties with the Association of South East Asia Nations (ASEAN) has been a major aim of the ‘Look East Policy’. Similarly, the sub-regional grouping called BIMSTEC, the SAARC etc., are all aimed at regional cooperation to meet this objective, he said. These organizations have identified all fields of education, trade and commerce, energy and food security etc. as areas of development.

From the steps taken on the foreign policy and the domestic fronts, it is clear that increased economic activity will lead to robust growth and the welfare of the local population. This requires simplification of border trade procedures and improving physical connectivity and action on these fronts, including cooperation with out neighbours”, Mr. Mukherjee said. The meeting was also attended by the Governor of Meghalaya, Shri B.L. Joshi who called for urgent regional cooperation with SE Asian countries where NE region can play a vital role through development of better infrastructure to make the Look East Policy a success. The Chief Minister of Meghalaya, Dr. D.D. Lapang, and senior officials of DoNER and NEC as well as the Ministry of External Affairs were also present on the occasion.

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