If N-E grows, nation will grow: PM

Guwahati: Prime Minister Narendra Modi on Saturday said that India's growth story will further pick up speed when there is all-round development of the North-East. Inaugurating the two-day 'Global Investors Summit' hosted by Assam, he stressed the importance of the 'Act East Policy' in the Centre's aim of achieving balanced and fast-paced growth of the North-Eastern region.

"We have created the Act East Policy and the North-East is at the heart of it. The Act East Policy requires increased people to people contact, trade ties and other relations with countries on India's east, particularly Asean countries," he said.

The Union Government has taken up many path breaking economic reforms in last three years, which have simplified procedures for doing business, he said. It is a result of these reforms that India today ranks 100 among 190 countries in the Doing Business Report, of the World Bank, after climbing up 42 ranks, Modi said.

India's position has improved in many other ratings like Global Competitiveness Index of World Economic Forum and Moody's rating upgrade from stable to positive in November 2017. "Our policies have ensured that inflation remains below 5 per cent mark. Now, we have foreign exchange reserves of $418 billion.

Referring to the recent announcements in the Union Budget, he said that 45 crore-50 crore people will benefit from the health insurance scheme, Ayushman Bharat, and that it has enhanced the possibilities of setting up hospitals in tier II and III cities by hospital chains. Modi said that the Government's current focus is on infrastructure investment and next year it will be investing about Rs 6 lakh crore in this sector.

"This year we aim to complete more than 9,000 km length of National Highways. We will be developing 35,000 kilometers of roads with investment of Rs 5.35 lakh crore under the Bharatmala project," he said, adding that the Railways will make an investment of Rs 1.48 lakh crore in 2018-19.

Assam is hosting its first global investors summit to showcase its manufacturing opportunities and geostrategic advantages to foreign and domestic investors. The summit aims at highlighting Assam's core competencies in different sectors along with the policy initiatives taken by the state government.

The prime minister said the tagline of the summit 'Advantage Assam: India's Express way to Asean' is not just a statement but is a comprehensive vision. India's growth story will further pick up speed only when there is an all-round development of the North-East and its people, he said.

"I am sure that with the present leadership of the state government, Assam is going to further improve its current position to emerge as one of the most sought-after states for industrial investment in the country," he said. Those present at the event included Bhutanese PM Tshering Tobgay, Assam Chief Minister Sarbananda Sonowal, the chief ministers of Arunachal Pradesh and Manipur, several Union ministers, the ambassadors and high commissioners of 16 countries, RIL chairman Mukesh Ambani and Tata Sons chairman N Chandrasekharan.