Source: News Bharati English21 Mar 2016 19:13:52

New Delhi, March 21: A delegation of PHD Chamber of Commerce and Industry called on Union Minister of State for Development of North Eastern Region (DoNER), Dr. Jitendra Singh today and offered to invest in Northeast. During the meeting, Singh told the business leaders that North east has a huge unexplored potential which, if optimally utilized, can turn the region into a trade hub not only for India, but also for countries across the eastern border.PHD Chamber Director Yogesh Srivastav informed Singh that the Chamber had taken upon itself the responsibility of acting as a catalyst in the growth story of Indian Railways and would therefore be keen to be a participant in the expansion of rail network in the Northeast.

In response, Singh said that DoNER Ministry has already become an important stakeholder in the rail expansion programme in Northeast and disclosed that for the rail link from Agartala to Bangladesh, the budget for the rail line on the Indian side is going to be borne by the DoNER Ministry, while the rail line on the other side of the Indian border will be funded by the Ministry of External Affairs. He welcomed the PHD Chamber’s initiative to become a player in the growth story of railways in Northeast.

Describing PHD Chamber as an important business and trade organisation of India, with a history of more than a century, Singh said PHD Chamber has been a part of the economic growth of India since Independence and said that under the current Government, this was an opportunity for it to come forward and take the credit of inspiring more and more entrepreneurs and start-ups to set up venture in Northeast.

As an incentive for young entrepreneurs and start-ups, who wish to set up business in Northeast, Singh said that DoNER Ministry has decided to offer Venture Fund for new trade and this would be in addition to incentives already announced by the Prime Minister including 3 years’ of tax holiday and 3 months’ exit period.

The PHD Chamber delegation also offered to work in the Agriculture sector and become a part of the organic farming mission in the Northeast. In response, Singh assured of full cooperation from the Government and invited the business community to become participants in the evolution of North Eastern States as the organic nucleus of South East Asia.