The seven sister states of North-East India hold immense potential in terms of producing goods for exports which will hugely benefit India’s negative balance of payments with many countries, and result in economic prosperity in the region. The Federation of Indian Export Organizations (FIEO) has been appointed by the Ministry of Commerce as the main trade promotion agency in the North East.
The FIEO has revealed that it plans to organize workshops and hold knowledge sessions to educate traders in the region about existing government schemes which are beneficial for exporters. President of FIEO, Ganesh Gupta, has to this effect said that, “We will increase awareness among the exporters of that region about the government’s export promotion schemes. We will also conduct workshops to resolve their issues.”
Products which can be produced and exported from the region include textiles, horticultural produce, handicrafts, agricultural produce and goods, and paper among others. The quantity and scale on which these items can be produced is enormous, which means that potential employment generation will be equally massive and beneficial to the people of the region.
Export numbers have been on a favourable rise since September, 2016, and experts are of the opinion that the market may well reach a value of $270 billion by the end of 2017. As of February, 2017, total exports were valued at over $245.4 billion. This coupled with the growing demand in developed economies will prove beneficial for India’s overall export trade.