To ensure expansion of the cane and bamboo industry of the region, the Ministry of Textiles and Development of North Eastern Region (DoNER) has signed a MoU. The MoU envisages close coordination between the two ministries so that the cane and bamboo sector gets requisite assistance and create employment opportunities in the region. Additional MoUs were signed between different Central and State agencies and investors and promoters.

The two-day Northeast Investors Summit was organised jointly by Ministry of Textiles and Ministry of DoNER in collaboration with industry associations FICCI and CII.The Summit intends to showcase the NE as a global destination for investment and explore the possibility of bringing in convergence of efforts of various ministries and Northeastern States to attract investment in the NE.

Textiles minister Smiriti Irani also announced that from the next academic session master craftsmen from the handloom industry would be giving lessons at National Institute of Fashion Technology (NIFT). Touching on the rich tradition of the handloom and handicraft sector of the region, she said that the Centre has invested in infrastructural projects worth Rs 52,000 crore to help investment opportunities as part of the Act East Policy.

The minister also announced an investment of Rs 820 crores in sericulture sector of the region. She said the investment from the Centre would enable employment of close to four lakh families. Giving out details of the funds sanctioned by the Ministry, Irani said that projects worth Rs 1,040 crores has been alloted for the region for textile promotion schemes in handloom, handicrafts, sericulture, apparel and garmenting.