NE likely to become free trade zone

NEW DELHI, March 14 ? A proposal is under consideration to declare the North-east as a free trade zone, highly-placed official sources disclosed today. The sources further said that the move has been initiated in order to give a boost to the industrial sector and to encourage the young entrepreneurs to set up industries in the region. Despite immense potential for industries, no pragmatic steps has yet been initiated and hence several organisations have been demanding declaration of the region as a free trade zone, they added. In this context, the sources expressed the view that if the region is declared as a free trade zone, foreign industries would invest in the North-east, which would solve the growing unemployment problem, to a good extent. The region is well connected with Bangladesh, Myanmar and South east Asian countries. Moreover, the opening of international air service is likely to encourage foreign investors to invest in the region, they said. Giving more details in this regard, the sources revealed that the volume of border trade between North-east India and Myanmar has been gaining momentum during the last couple of years, which has also increased the revenue of the region. If the trend continues, the young entrepreneurs would come forward for setting up of new industries, the sources added. The sources however said that the region requires proper communication network in a bid to attract foreign investors. The present road communication system should be up graded immediately, they said, adding that more trade routes should be opened with the neighbouring countries for increasing business. Expressing concern at the poor growth of industry in the North-east, the sources said that militancy was one of the major reasons for this. Protracted militancy had slowed down the growth of industry. ?The militant groups should shun the path of violence in the greater interest of the region,? they said.