Northeast India is witnessing surge in infrastructure development: FICCI President

Subhrakant Panda, President of Federation of Indian Chambers of Commerce and Industry (FICCI) said that Northeast India is witnessing surge in infrastructure development.

Panda who was in Guwahati on Wednesday while talking to ET said that it is for the first ever time FICCI is holding its National Executive Committee Meeting in Guwahati which shows how much priority FICCI gives to Northeast India.

He added, “The region is witnessing surge in the infrastructure development. Lot of focus is given in capital expenditure and increasing the per capita income. Lack of connectivity was one of the reason that had hindered the development of the region.”


He said that Hiroshi Suzuki, Ambassador, Embassy of Japan said that the deep sea Matarbari port in Bangladesh funded by JICA will be operational by 2027 and be a game changer for the entire region to connect North Eastern states to sea ports. One of the key pillars of Prime Minister Kishida is the new industrial value chain in the Bay of Bengal. India is the top recipient of Japan's official development assistance. Connectivity is getting lot of attention.

Panda said that Assam is not just the largest economy of the region but plays a crucial role in the development of this region. It has a pivotal position in India’s Act East Policy which has been one of the fulcrums of our foreign policy. “The State’s GSDP has grown at nearly 12 per cent in the last decade and advance estimates indicate an astounding 19.52 per cent growth in FY 2023 while per capita income is expected to grow by 15 per cent,” he added.

He said that Assam chief minister Himanta Biswa Sarma informed that work is underway to bring in a customised industrial policy that would take into consideration specific needs and requirements of industries on a case-by-case basis that would be a departure from the current policy of one-size-fits-all. This will greatly benefit the industry.