Guwahati, Jan 11 (PTI) Assam Governor Jagadish Mukhi today said that India can develop only if the North East develops and the Union government is very keen to ensure that this happens at the earliest.

“North East is the gateway to the ASEAN countries as well as other neighboring countries hence and can serve as a strong base for the nation’s economic growth”, the Governor said while inaugurating the North East MSME Conclave 2018, organised by the Confederation of Indian Industries (CII-NE), here.

MSME plays a critical role in the growth of GDP, Employment and Exports and the focus of ‘Start Up Stand Up’ initiative was on this sector, he added.

CII-NE’s Co Chairman Abhijeet Barooah said the Central and State Government has encouraged the MSME sector to grow in the NE region.

He also highlighted the various issues faced by this sector which includes lack of infrastructural development, connectivity, inadequate application of technology, non-availability of risk fund and absence of NE Industrial Policy.

Chairman CII MSME Panel and SBI’s Chief General Manager(NE Circle) PVSL N Murthy pointed out the contribution of SBI towards the development of MSME in the NE.

He urged for a joint effort by the stakeholders and government in building the linkage between the needy and the giver.

He also highlighted some major issues like the poor accessibility of funds and utilization of venture capital and stressed the need for CII and banks to work together for the growth of the MSME sector.

The Conclave also held deliberations on bankers- entrepreneurs connect, building competitiveness and capacity building and marketing and branding large industry partnership and market linkage by eminent experts and senior officials from various stakeholders organisations, state and Central Government.

This is published unedited from the PTI feed.