TODAY -
NE has trade potential of upto Rs 1.8 lakh crore
Nagaland Post | Agencies | Kolkata, Nov 27 ():
North East India has a trade potential of anywhere between Rs 35,000 crore and Rs 180,000 crore and could well become a growth engine for the economy. Total trade between India and its immediate neighbours, Nepal, Bhutan, Bangladesh and Myanmar in 2013-14 was to the tune of Rs 80,303 crore and has been growing at a CAGR of 20%.
However, despite sharing its border with these countries the share of the NE region of this trade was barely 1 to 2%. This shows that most of the trade between India and its eastern neighbours is happening from industries in regions other than the north east. From the perspective of geographical location and cost savings it makes more sense for these industries (or at least those industries whose raw materials base is present in the region) to locate themselves in the north east.
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* This Post is uploaded on 28 November, 2014
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