Business leaders urge 'Single Economic Entity' of NE states

Guwahati, Sep 26 (UNI) Business leaders of the North East today emphasised on "Single Economic Entity" (SEE) of NE states, including Sikkim, to take on challenges of globalisation, but said good infrastructure and efficient administration were must for economic development.

They also urged the shift of focus from raw material exports to manufactured items, particularly to China and Hong Kong, which was emerging as a top exporter of India.

The members of a 13-member Small and Medium Enterprise (SME) business promotion delegation from the NE were interacting with the media after a visit to China and Hong Kong.

The visit was organised by Indian Institute of Entrepreneurship (IIE), along with the Federation of Industries and Commerce of North Eastern Region (FINER, and sponsored by the Ministry of Small Scale Industries.

FINER president S K Jain, terming the visit a success, said, '' Intra-regional barriers have to be addressed by the state and the Centre to promote Brand NE. '' He urged the Centre for providing 'sovereign guarantee' to investors in the NE to attract FDI to the region, which had seen no FDI till now.

IIE Director K Ahmed, who led the delegation, urged the FINER to capitalize on the contacts made during the visit for trade promotion with China and Hong Kong.

He said, '' FINER has now been invited to participate in a SME convention in Hong Kong in November. They must make the most of the opportunity. '' Praising the '' ZI ZHU science based industrial park'' at Shanghai, he said similar campuses with specialty universities inside industrial complexes could be promoted in the country for speedy delivery of results.

Mr Ahmed said clearances to set up new businesses in China were received in five days and such an efficient system was needed here to attract investors.

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