Reported by Roopak Goswami
Guwahati: Union Finance Minister Nirmala Sitharaman on Friday outlined an eight-point blueprint for accelerating growth in the Northeast, saying the region is poised to become a key driver of India’s journey towards becoming a developed nation by 2047.
Addressing the inaugural session of the two-day conference on Leveraging Externally Aided Projects (EAPs) in the North-Eastern States in Shillong, Sitharaman said the Northeast had entered a new phase of development in which the focus must extend beyond infrastructure spending to building institutions, strengthening governance, and fostering partnerships capable of sustaining long-term growth.
“The Northeast is entering a decisive phase of development where stronger institutions, implementation capacity, and partnerships are as important as investments,” she said.
The Finance Minister identified eight critical enablers that would shape the region’s future — leadership, institutional capacity, human capital, women-led development, strategic financing, private investment, connectivity, and partnerships.
She said alignment between the Centre and state governments had emerged as a powerful catalyst for development, helping accelerate project implementation and strengthen public confidence.
Equally important, she added, was the need to build institutions capable of effective planning, monitoring, and service delivery.
Highlighting the Northeast’s demographic strengths, Sitharaman described its youth population, entrepreneurial spirit, and women leaders as among its greatest assets.
She called for greater investments in education, skills, and capacity-building, stressing that women-led development must remain at the heart of the region’s growth strategy.
The Finance Minister also urged states to make better use of externally aided projects, saying multilateral and bilateral financing should be viewed not only as a source of capital but also as a means of accessing global expertise, innovation, and best practices.
According to Sitharaman, such projects have become an increasingly important source of development financing for the Northeast, supporting investments in infrastructure, connectivity, livelihoods, and social sectors.
She also pitched for greater private-sector participation in the region’s development, identifying tourism, logistics, agribusiness, food processing, renewable energy, manufacturing, digital services, and the orange economy as sectors with significant growth potential.
“Private investment can create jobs, generate value addition, and open new opportunities for sustainable livelihoods across the Northeast,” she said.
The Minister highlighted the transformative impact of recent investments in transport infrastructure, digital connectivity, and power systems, noting that improved connectivity was linking people, markets, and opportunities while strengthening India’s Act East Policy.
She said the region’s rich biodiversity, cultural heritage, and natural resources placed it in a unique position to emerge as a leader in eco-tourism, climate resilience, sustainable agriculture, and green growth.
Calling for deeper collaboration among governments, communities, investors, academia, civil society organisations, and development institutions, Sitharaman said lasting development would depend on collective action and strong local institutions.
She stressed that development efforts must ensure that no district or community is left behind and urged stakeholders to create systems that continue delivering benefits long after projects have been completed.
“The future of the Northeast is not a story waiting to be written; it is a story already unfolding,” she said, urging all stakeholders to convert the region’s immense potential into lasting prosperity.
The conference was organised by the Department of Economic Affairs under the Ministry of Finance.
It brought together chief ministers from Meghalaya, Assam, Mizoram, Nagaland, Sikkim, and Tripura, along with representatives of major development institutions, including the World Bank, Asian Development Bank, Asian Infrastructure Investment Bank, International Fund for Agricultural Development, New Development Bank, Japan International Cooperation Agency, and NITI Aayog.
Participants deliberated on improving the planning, execution, and monitoring of externally aided projects and shared lessons from successful interventions across the Northeast aimed at accelerating inclusive and sustainable development.