Shillong: Investors from different parts of India are eager to invest Rs 7000 crore in the North East, although land acquisition in the region has been a foremost hurdle towards realising this target.
Director General of Indian Chamber of Commerce (ICC) Ranjib Singh said that “land acquisition in the region has been a major hurdle, especially in Meghalaya, which has its own land tenure system under the Sixth Schedule of the Indian Constitution.”
Singh also said that all the business delegates are trying to familiarise themselves with the ground circumstances of the region before gravely putting in their money.
One of the investors, Manish Lakhotia said that “What we are looking for is land and with the Deputy Chief Minster’s assurance we are all feeling confident.”
Investors in power, tourism, housing, steel and cement are holding consultation with different State Governments of the region. Singh said that investors were eager to put in their money mainly in the power sector due to the region’s immense hydel power potential.