International Journal For Multidisciplinary Research

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Emerging Trend in Growth & Future Perspective of Industrialisation and Economic Development in North-East India – A Critical Review.

Author(s) DIBYENDU BANIK, SOURAV SHIL
Country India
Abstract Industrialization is a key factor for economic growth in emerging or undeveloped economies. The North-East region has abundant natural resources such as forests, coal, crude oil supplies, etc. However, the economic growth of the region is lagging behind, making it difficult to generate industrial impacts. One of the best ways to reduce regional disparities and promote better growth in the region is through the use of regional planning. Given the similar geographical location and socio-economic structure of the region, national planning might not be able to work effectively. However, when combined with regional planning, it might prove to be one of the most effective tools for growth in the region. In this report, we will analyse the challenges and opportunities of industrialization in the northeast region. We will also provide some suggestions for advancing the industrial sector of the region through regional planning. Despite having abundant natural resources, North-East India is lagging behind in terms of economic growth. Based on the region’s energy and economic resources, this paper examines the development conundrum faced by North-East India and provides an overview of the policies implemented by India to promote industrial and economic development in the region with a view to unlocking local economic potential, advancing energy development, and developing a more rational industrial structure.
Keywords Economic Growth, Social Development, Industrialization, Regional Planning, Natural Resources.
Field Business Administration
Published In Volume 5, Issue 6, November-December 2023
Published On 2023-12-26
DOI https://doi.org/10.36948/ijfmr.2023.v05i06.11107
Short DOI https://doi.org/gs98qj
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