PM Modi sees northeast states as gateway to $200 billion trade with ASEAN

New Delhi, May 23 (IANS) Prime Minister Narendra Modi on Friday said that India’s trade with ASEAN countries, which currently stands at approximately $125 billion, is expected to exceed $200 billion in the coming years with the northeast states playing a key role as a strategic trade bridge and gateway to the southeast Asian markets.

Inaugurating the Rising North East Investors Summit here, he highlighted the importance of the India-Myanmar-Thailand Trilateral Highway, which will provide direct access from Myanmar to Thailand, strengthening India's connectivity with Thailand, Vietnam, and Laos.

PM Modi underscored the government's efforts to expedite the Kaladan Multimodal Transit Project, which will link the Kolkata Port to Myanmar's Sittwe Port, providing a crucial trade route through Mizoram. He stated that this project will significantly reduce the travel distance between West Bengal and Mizoram, enhancing trade and industrial growth.

Highlighting the ongoing development of Guwahati, Imphal, and Agartala as Multi-Modal Logistics Hubs, the Prime Minister noted that the establishment of Land Custom Stations in Meghalaya and Mizoram is further expanding international trade opportunities. He emphasised that these advancements are positioning the northeast as a rising force in trade with Indo-Pacific nations, unlocking new avenues for investment and economic growth.

The Prime Minister further stated that the ‘Heal in India’ initiative is being developed as a worldwide movement. He highlighted the northeast’s rich biodiversity, natural environment, and organic lifestyle, describing it as a perfect destination for wellness.

PM Modi urged investors to explore the northeast as a critical component of India's Heal in India mission, reaffirming that the region’s climate and ecological diversity offer immense potential for wellness-driven industries.

The Prime also highlighted that the northeast is emerging as a key destination for two strategic sectors -- energy and semiconductors. The government's extensive investments in hydropower and solar power across all northeastern states, with several thousand crore rupees worth of projects already approved, he added.

The Prime Minister noted that beyond investment opportunities in plants and infrastructure, there is significant potential in manufacturing, including solar modules, cells, storage solutions, and research. He underscored the importance of maximising investment in these areas, stating that greater self-sufficiency today will reduce dependence on imports in the future.

PM Modi also underscored the growing role of Assam in strengthening India’s semiconductor ecosystem. He announced that the first Made in India chip from a northeast-based semiconductor plant would soon be introduced, signalling a major milestone for the region. This development is unlocking opportunities for cutting-edge technology and solidifying the northeast’s position in India's high-tech industrial growth, he added.

--IANS

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