AGARTALA: Home Minister Amit Shah emphasized the vast economic growth potential of the Northeast region and its strategic importance as India’s export gateway via the Chittagong port. Speaking at the NE 2024 bankers’ conclave, he highlighted the need for banking policymakers to create tailored guidelines that address the unique circumstances and capacities of the region, which have been historically overlooked compared to other parts of the country.
Shah urged key stakeholders, including the banking secretary, NABARD chairman, RBI, and SBI, to adopt a forward-thinking approach and establish regulations specifically designed for the Northeast. He called on the banking sector to enhance its support for infrastructure development, agriculture, micro, small, and medium enterprises (MSMEs), as well as personal loans in the region, advocating for a willingness to take calculated risks given the Northeast’s projected 20% economic growth.
Pointing out the stability and peace achieved in the Northeast over the past decade under the Modi government, Shah stated, “The Northeast is on track to become a center for economic advancement and an export hub for global trade through the connection with Chittagong port, and it is poised to set records in infrastructure development.” He urged banks and investors to view the Northeast with a broader perspective—not purely through the lens of financial metrics—but with a commitment to becoming partners in its growth and progress.
The conclave was attended by several key figures, including Union Minister for Development of North Eastern Region (DoNER) Jyotiraditya Scindia, Arunachal Pradesh Chief Minister Pema Khandu, Tripura Chief Minister Manik Saha, senior officials from financial services, the RBI, and representatives from prominent banking institutions.
