North East India has thriving potential to improve the country’s economy
North East India is known for its scenic beauty and cultural heritage. But, do you know they’re immensely contributing to our country’s GDP? Yes, you heard it right. As 25% of India’s forest area is in the North-eastern region, their greatest contribution to GDP is from the Agriculture sector. In this blog, you’ll see their success stories and the tremendous opportunities to enhance our country’s economy.
North East India Success Stories
Often, we celebrate the “rags to riches” of people around the country but somewhere North-East success doesn’t come to the limelight. Here is a beautiful compilation of such unsung heroes.
1. The Unsung Heroes
North East Indians didn’t wait for others to help them. A great example of this quote would be the world’s youngest entrepreneur-Hironmoy Gogoi.
This 24-year-old Assamese boy worked with several startups and founded the North Eastern Institute of Technology when he was only 19. Currently, he is building a rural tourism startup for the Northeast.
Similarly, healthcare is a major industry that needs improvement, especially in the North East.
Knowing these exact needs, Dayananda Meitei created Medilane, the medical transport services that are available 24*7 in Manipur and Assam. They’re planning to extend their branches soon.
As we already know, the northeast is best at preserving its traditions. Brahmaputra fables concentrate on the handicrafts and artisans industry. Dhruba Jyoti Deka, the Assam-based startup has more than 3500 artists in their house shipping the products to Western countries.
2. Women Entrepreneurs of Northeast India
Ramina Haorokcham brought a new spin to the e-commerce industry in the Northeast. Her online shop sells online dresses and lingerie which was her huge success.
Shubra Devi, a Master’s graduate in Food and Nutrition wanted people to taste the authentic Manipur foods. That’s how Meira Foods was started in 2004. They only use indigenous flavors of Manipur.
Digital space is one untouched and challenging area for the Northeast. Luckily, Tanushree brought to light through her English Magazine- Eclectic Northeast. She left her corporate job in the US to carry forward this initiative for her people.
Increase in Economy
Despite the richness in natural resources like mineral deposits and vegetation, northeastern states lagged in the economy. Why?
The partition in 1947 and shared boundaries with countries like Myanmar, China, and Bangladesh have cut off the connection with the rest of the country. To minimize this gap, the Government and thriving entrepreneurs in the North East are coming up with a lot of empowering opportunities.
Potential Opportunities for business
In the past 10 years, the GDP of the North East has evolved immensely. Thanks to the young entrepreneurs. Particularly, service-based businesses like tourism, real estate, and trade have summed up to 51% of total GDP in North East Regions. About 10% of the total union budget is allocated for creating potential possibilities for northeast people. Compared to other states in India, the North East has several advantages for doing business. Some of them include capital investment subsidies and attractive fiscal packages. Businesses in horticulture, tourism, hydropower production, and food have a massive chance to increase the welfare of the people.
The Bottom Line
To sum it up, North East India is a hotspot for economic development. We at AG Horizon guide you on project research, management, advisory, and acceleration for your business needs.
Disclaimer: This information has been collected through secondary research and AG HORIZON PVT LTD is not responsible for any errors in the same.