Investment roundtable discusses business avenues in Sikkim

GANGTOK, (IPR): Extensive insights on investment avenues and opportunities in Sikkim were discussed at the roundtable conference held at Chintan Bhawan here today ahead of the Northeast Global Investors Summit 2023 scheduled to be tentatively held in New Delhi later this year.

The roundtable conference, the fourth in the series of investors’ roundtable programmes, was organised by State Commerce & Industries department in association with Ministry of Development of North Eastern Region (DoNER), Federation of Indian Chambers of Commerce and Industry (FICCI), Ernst and Young (EY) and Invest India.

The programme was attended by Commerce & Industries minister B.S. Panth, DoNER secretary Lok Ranjan, Sikkim chief secretary V.B. Pathak, DoNER joint secretary Harpreet Singh, DoNER joint director Pausianmuang Tunglut and State Commerce & Industries secretary Karma R. Bonpo, along with representatives from FICCI and Invest India, secretaries of State line departments and investors from across the country.

Addressing the gathering, minister B.S. Panth expressed gratitude to Prime Minister Narendra Modi for his vision of overall development of Northeast India and said that NE India has always been referred to as the “Ashtalaskhmi of the country” owing to the immense potential of the region in various sectors. He thanked the Central government for the support and assistance extended for the development and progress of the State.

Reiterating the State government’s commitment towards promoting sustainable development and eco-friendly green industries in Sikkim, Panth welcomed global investors to explore the investment-friendly policies, skilled workforce, and abundant natural resources of NE India to be showcased in the North East Global Investors Summit.

He further extended gratitude to the Ministry of DoNER and its counterparts for organising the fourth roundtable conference in Gangtok and aiding the State in getting equipped and prepared for the North East Global Investors Summit.

DONER secretary Lok Ranjan, in his address, expressed delight over the level of information sharing among stakeholders and said the Government of India, in collaboration with State governments, is committed to engaging with investors through summits and roundtables to explore investment opportunities.

He urged the stakeholders to provide feedback and insights in order to improve investment ecosystem in Sikkim and build stronger partnerships for the development of the NE region.

Sikkim Organic Farming Development Agency (SOFDA) chief executive officer Dr. S. Anbagalan gave a brief presentation on ‘Transformation in Agriculture and sustainable agriculture and opportunities in sustainable Organic farming’, while Tourism principal chief engineer Neeraj Pradhan spoke on ‘Tourism as a driver for economic development and challenges’.

Invest India’s senior manager Chihan Kashung presented elaborative insights on strengthening investment ecosystem in Sikkim while significantly stressing the importance of establishing State Investment Promotion Agency (IPA) that would assist in promoting unique strengths of State and building a conducive business ecosystem.

FICCI (Sikkim) advisor Sonali Ghoshal dwelled upon various initiatives undertaken by FICCI in the State which was followed by a presentation by senior FICCI director Biswajit Chakraborty, wherein he gave an overview of the Northeast Global Investors Summit and laid out information with regard to the summit roadmap.

The conference also featured an open interactive session whereby investors and other stakeholders shared their views over facilitating growth of the start-up ecosystem, highlighting opportunities for trade in goods and services in the NE region.

Earlier, in his welcome address, secretary Karma R. Bonpo gave an in-depth presentation on the industrial development and investment vision of Sikkim. He said the State government seeks to promote green industries, with the focus on adopting people-first policies and pursuing development that leads to sustainability of the fragile ecosystem of Sikkim.

Bonpo dwelled upon propelling new investment opportunities and promoting entrepreneurship in sectors such as hydro power sector, Animation Visual Effects Gaming Comics - Extended Reality (AVGC-XR) sector, mountainous mobility solutions, electric vehicle mobility, climate change & biotechnology, handloom, handicrafts & textiles, health & wellness sector, pharma industry, education and infrastructure & connectivity.

The roundtable session was followed by a press conference wherein various queries on the investment potential of Sikkim and the North East Global Investors Summit put forth by the press and media fraternity were addressed by dignitaries.

It may be mentioned here that the roundtable series that officially started from Assam has moved across the North East States of Tripura, Mizoram and Sikkim. The discussions at the pre- summit sessions and roundtables have indicated significant interest by investors in the North East Region. Ahead of the North East Global Investors Summit in New Delhi, the Ministry of DoNER will organise three national and an international road show in Mumbai, Hyderabad, Kolkata, and Dhaka (Bangladesh) after the roundtable sessions.