Guwahati: The Federation of Indian Chambers of Commerce and Industry's (FICCI) northeast chapter proposed creating an industrial zone in the area modelled after Gujarat's GIFT City.

Ranjit Barthakur, chairman of the FICCI Northeast Advisory Council, stated that in order to draw business and investment from Southeast Asian nations, especially the ASEAN region, the government might think about building a comparable model of GIFT City in the northeast.

According to him, this will significantly advance India's Act East Policy.

The government's move to focus industries like animal husbandry, dairy, and fisheries, grant agricultural credit worth Rs 20 lakh crore, and introduce programmes like the Horticulture Clean Plant Programme to boost the production of high-value crops were also praised by him.

This would assist secure food security for the nation and give farmers in the area a much-needed boost to their livelihoods, Barthakur told the media.

In praising the funding given to the Amrit Dharohar project, he said: "Preserving our biodiversity is crucial, and wetlands are a significant part of it, especially in the northeast. These initiatives will aid in achieving the net zero goal and, over time, encourage the creation of additional green jobs. The Union Budget 2023–24 has been praised by the FICCI Northeast Advisory Council as a progressive budget that puts inclusive growth first. The proposed investments in crucial sectors including infrastructure, agriculture, healthcare, education, manufacturing, and digitalization are a step in the right direction, according to Barthakur, who noted that the budget takes a comprehensive approach to development.

The northeast region's economy is expected to benefit from the budget's emphasis on developing infrastructure, including roads, railroads, ports, airports, and urban transportation.

The increase in capital investment expenditure of 33.4%, in Barthakur's opinion, is particularly notable.
"This will have a big positive impact on the economy nationwide, but especially in the northeast where infrastructure is heavily prioritised. We are certain that these improvements will significantly raise the standard of living for everyone living in the area."

Barthakur praised the government's commitment to sustainable growth and lowering carbon emissions and welcomed the green efforts mentioned in the budget.

The National Clean Energy Fund's enhanced funding and the tax incentives for electric vehicles are crucial milestones in fostering the development of renewable energy sources and advancing clean technologies "said he.

"The health and wellbeing of the people in the northeast region would be positively impacted by improved access to healthcare services, and this is a significant objective for the FICCI Northeast Advisory Council," stated Barthakur.

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