North Eastern Region offer tremendous potential in terms of growth and development of the services sector. Examine (200 Words)
Refer - Business Line
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IAS Parliament 3 years
KEY POINTS
The ‘Look East’ policy of 1991 gave way to the ‘Act East’ policy” of 2015. The objective of the latter is to promote economic cooperation, cultural ties and strategic relationship with countries in the Asia-Pacific region.
Financial services
· Barring Sikkim, the NER lags behind in terms of financial inclusion.
· The sector can spur regional growth and it has both efficiency and equity implications.
ICT connectivity
· If India can tap into Bangladesh’s submarine cable networks, then a combination of optical fibre, satellite and microwave technologies could be used to provide digital connectivity in NER.
Tea and bamboo
· India’s tea infrastructure and regulations are far superior to those of its neighbours.
· Online Indian tea auctions provide transparent prices.
Tourism
· The natural beauty combined with its religious and historical sites can spur tourism.
· Both short and long trips can generate foreign revenue. The border haats between India and Bangladesh must be enhanced.
Logistics
· The current infrastructural investment will boost demand for logistics services. India is developing several airports in the region.
· Bagdogra airport, Darjeeling, is the only international airport in North Bengal, and it is close to many districts in Bangladesh and Nepal.
Manish 3 years
IAS Parliament 3 years
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Priyanka Rastogi 3 years
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IAS Parliament 3 years
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Nivetha 3 years
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SURYAPANDI K 3 years
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