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market overview
Why north-East india ?
The Indian Government is actively seeking to increase investments across industry segments, in its north-eastern states: Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, and Tripura. The region is considered to be of critical geopolitical and economic importance, since it borders China, Tibet, Myanmar, Bangladesh, Nepal, and Bhutan.
The Indian Government’s Act East policy focuses on improving socioeconomic, trade, and business ties with East Asia and the ASEAN states, and thus bolstering the economic development and investment potential of the region. Due to its strategic location North-East India is the most significant part of India’s ambitious Look East Policy, Which envisions developing The Eight states of North-East India as part of an international economic corridor along with the ASEAN countries with Assam being the gateway to this project. There has been a sharp rise in the economy of the area over the past decade hence it presents innumerable opportunities for the businesses for expansion and growth. With the push in infrastructure projects by the government and potential presented by rich biodiversity and natural resources the region will certainly act as an engine of growth for India as well as ASEAN countries.
Meghalaya, Tripura, and Arunachal Pradesh have recorded the most rapid growth in industrial activity among the eight states in the region. Most development indices indicate that the region is outperforming most of the other states in India. Forestry accounts for a major share of the region’s economic activity and presents huge untapped potential for the wood industry. The region has shown great potential in bamboo production. In terms of bamboo resources, India ranks 2nd in the world behind China. It is estimated that the North Eastern region holds about 65% of the country’s total stock of 90 million tonnes. As part of the National Bamboo Mission, the Government of India is focusing on North East India. Opportunities include re-inventing bamboo in plywood units and paper mills, micro-propagation and production, shoot processing, industrial products, machinery and equipment, as well as skill up-gradation and training. An advanced Bamboo Technology Park is expected to open in Chaygaon soon.
