The North East region is primed for the development of industrial parks

financialexpress.com:

The North East Region (NER) in India is not just a beautiful amalgamation of culture, cuisine, exotic landscapes, and varied flora & fauna. The region is strategically located across India, South Asia, and Southeast Asia, and holds tremendous potential for trade, businesses, and industries.

The region can become a key node in India’s future economic growth roadmap and play an instrumental role in reaching out to the wider ASEAN region. The region’s economic potential in the past has been undermined due to limited infrastructure development. However, governing agencies are now keeping NER high up on the agenda and racked up investments to bridge the infrastructure gap.

A separate forum has also been built in NITI AAYOG to discuss and prepare NER-specific growth plans.

The entire NER is rich in natural resources such as forests, woods, mineral ores, and animal husbandry. The region has plenty of minerals such as coal, iron ore, nickel, petroleum & natural gas, lead, limestone, and clay. Likewise, the region is rich in a wide range of cash crops such as tea, coffee, bamboo, oud, teak, pineapple, oranges, herbs. If proper cold storage facilities and logistic infrastructure is developed, the region can become a major exporter of agribusiness products in the global markets.

Also Read: Money Management: How much should you keep in your savings account? Around 40% of hydro energy resources in India are available in the North East Indian region, which has also made most of the states in the region energy abundant. The price of electricity is also relatively lower in contrast to other parts of India. In the Northeast, the average price of industrial electricity is in the range of INR 4.5- 4.8/ units. The region of NER is also well