Recently, the Prime minister mentioned that Northeast has the potential to become India’s growth engine while establishing the foundation stone for the Manipur Water Supply Project.

Importance of North-East Region 

• The North-east region is the most recent geographic territory which has been added to the Indian mainland and it constitutes around 8% of the total area and thus has expectations from mainland India because most of the time it is neglected in political, cultural and social terms.
• During the pre-partition days the North-east region was very important but after the partition it has lost its connectivity with the rest of the countries.
• The north-east is a mega biodiversity region as well as it is strategically important in terms of creating connectivity with the south-east Asia.
• In 1996, the first package for the North-east region development was announced and steps are being taken to bring peace and normalcy in the region.
• Eg: Look East and Act East policy
• The social and educational attainment levels are very high as it is a diverse country with different ethnic communities.
• Thus, the north-east region is strategically as well as ecologically an important area where there needs to be an integrated and innovative approach to achieve its full potential.

What is the actual growth potential and what needs to be done ahead ?

• • According to the North-east Vision 2020, there is a substantial gap between the majority states and level of economic development in the North-east region.
  • The region has great potential in terms of natural resources which can be utilised upto a great extent in order to fulfill the domestic needs and it has potential of fulfilling our 2/3rd of the needs.
  • Eg: Bamboo can be used for making biofuel which is a sunrise industry and it can help us to become domestically sustain in terms of biofuel without harming the environment.
  • The north-east region is a gateway for south-east Asia through which our trade with these countries becomes viable.
  • There is a lack of Industrial progress and private investment as far as the north-east region is concerned which needs to be addressed because transaction cost is very high for investors.
  • A peaceful connectivity of the north-east with Bangladesh can have a high economic impact.
• Potential sectors need to be identified in terms of its growth potential.
• Eg: Service based sector.

How to ensure private sector investment in the North-east region ?

• The literacy rate is high in the north-east region which can be used as a catalyst for bringing in private investments.
• The identification of specific sectors where private investment is needed is an essential step to utilise the potential.
• The investment can be ensured in IT based activities.
• The investment can help in providing employment opportunities to the local people.
• Thus, private investment can play a major role in raising the socio-economic standard of the region.

Way Forward:

• • There is a growing positive environment in the north-east region which can be sustained with maintenance of the law and order.
  • The aspirations of the ethnic communities should be protected and safeguarded.
  • Strengthening ecology along with the job creation is the need of the hour.
• Policies pertaining to the environment and ecology in the region should be stable.
• Eg: Water management policy
• The growing younger generation’s potential needs to be utilised for mainstreaming the north-east region.

Conclusion :

• The North-east region’s future is bright if the uniqueness of the region is maintained and by improving the geographic connectivity it has a great economic potential for India.

Reference:

1. https://www.youtube.com/watch?v=ojanMSFMGwc&t=9s