Connecting industrial corridors and engaging Indian diaspora keys for attracting investment in northern states, industry representatives told at CII meet
Puja Bhattacharjee | July 24, 2014
Interlinking of Delhi Mumbai industrial corridor (DMIC) with the Amritsar-Kolkata Corridor at Dadri is going to bring a revolutionary change in the world of logistics and northern India stands to benefit the most from it, according to the government.
“DMIC would be a game changer for northern India,” said Amitabh Kant, secretary, department of industrial policy and promotion (DIPP), ministry of commerce and industry.
“Northern India has youngest population in the world with great enterprising spirit that could lead to transformation of the region with emphasis on labour-intensive manufacturing, planned urbanisation and quality infrastructure”, he said.
Kant, who is the former CEO and managing director of Delhi Mumbai industrial corridor development corporation (DMICDC), was speaking at an event organised by the confederation of Indian industry (CII) to showcase and promote investment opportunities in the northern states.
He said that after allowing 49 percent FDI through automatic route and de-licensing manufacturing of about 60 percent of defence items, there are emerging opportunities in the defence sector. “North India has the potential to emerge as a hub for value added manufacturing in defence sector and the government is taking lot of initiatives towards ease of doing business,” he said.
He assured that DIPP would work in close association with the state governments to spur investments and growth.
Prem Narain, secretary, ministry of overseas Indian affairs, emphasised on the role of states in creating enabling policies and models to attract investments and growth.
He stressed the need for structured engagement with the Indian diaspora for engaging them with Indian growth story.
“State governments in the northern region should associate with overseas Indian facilitation centre to showcase investment projects and opportunities to overseas Indians through state specific investor meets,” he said. He added that the ministry will soon open pravasi bharatiya kendra in New Delhi.
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