The Northeast region, encompassing eight states, is emerging as a new frontier of India's growth. With international borders spanning 5,182 kilometers across five countries, the North East holds strategic significance as the Gateway to Southeast Asia for India. Its close proximity to dynamic markets, abundant natural resources, youthful workforce, and strategic location present vast trade and investment opportunities. Investors can capitalize on these advantages to forge robust trade networks, bolster economic ties, and harness the region's potential as a thriving economic hub.
North East India resides within one of the world's richest biodiversity hotspots, offering abundant investment prospects in flora, fauna, forests, medicinal plants, and minerals like coal, limestone, quartz, feldspar, granite, industrial clay, sillimanite, and uranium. This abundance of resources, coupled with skilled English-speaking human capital, ample agricultural and horticultural resources, and significant hydropower potential, positions the region as a favorable destination for industrial ventures.
The North East proves to be an attractive investment destination for Japanese companies, with Japan being a key partner in the region's economic development. India and Japan established the India-Japan Act East Forum in 2017 and had 7th round of meeting in February this year, to spearhead projects aimed at modernizing the North East's economy. The range of projects taken up is quite diverse and includes the improvement of National Highways in Assam, Mizoram, Manipur and Tripura; hydropower in Meghalaya; biodiversity conservation and forest management in Sikkim, Nagaland, Tripura and Meghalaya; and water supply and sanitation in Assam.
Japan has contributed 385 billion yen (approximately 22,000 crore) in support so far. Forum's discussion was in line with Prime Minister Kishida's March 2023 proposal for the "Bay of Bengal-Northeast India Industrial Value Chain Concept. Also, the discussion was held regarding the advancement of Japanese language education, which is a fundamental aspect of the collaborative partnership between Japan and India.
The potential for collaboration between Japan and the North East is boundless, spanning diverse sectors such as information technology, infrastructure, agribusiness, food processing, horticulture, energy, culture, education, skill development, and tourism. Japan's expertise in advanced technologies complements the region's rich natural resources, strategic location, and dynamic workforce, laying a solid foundation for a partnership that transcends geographical boundaries.
In India's developmental agenda for the North East, Japan occupies a pivotal role as a significant partner. The collaborative efforts between India and Japan in the region are poised to flourish in the coming months and years. The evolving relationship between India and Japan, characterized by a Special Strategic and Global Partnership initiated in 2014, underscores the visionary leadership of Prime Minister Narendra Modi and the late former Prime Minister Shinzo Abe, and is set to thrive further.