IIM Shillong

Prof. Kailash Choudhary
Assistant Professor, IIM Shillong

Assam, Manipur, Meghalaya, Arunachal Pradesh, Mizoram, and Tripura are the seven sisters and one brother (i.e., Sikkim) of India's northeast. The northeastern (NE) region is abundant in natural resources but also environmentally sensitive due to the presence of 54.16% forest land. The area needs industrial growth because 82% of the population depends on agriculture and related industries, although in many NE states, less than 20% of the total area is sown. Under the auspices of the "Ministry of Development of North Eastern Area (Ministry of DoNER)," the Indian government is paying particular attention to the development of the NE region of the nation. The Northeast region's infrastructure has to be improved for better power transmission and distribution as well as better mobility by train, road, air, and waterways. Infrastructure for sports and health is another area of concentration. Young business owners and significant industries will be drawn to this region by these development initiatives. Exploring the untapped potential in this region of the country would be made easier by the development efforts.

It has been forecasted that northeast India has relatively untapped potential for investors' attention given that the market is saturated in the majority of the country. The best angel networks and venture capitalists in India are particularly interested in the area, according to pragmatic assumptions. Through a number of initiatives, the government is aggressively fostering entrepreneurship in this area. One of the programs run by the Ministry of DoNER's NEDFL Schemes assists new business owners by covering 75% of their project costs. IIM Shillong's Center for Development of North Eastern Region (CeDNER) and Incubation and Enterprise Support Centre (IESC) is also helping by providing additional resources for the region. CeDNER organizes both short-term and long-term programs that are essential to the local community and the region's society. These programs teach students how to create profitable economic ventures and socially responsible projects. The Institute established IESE to engage in mentoring start-up businesses and entrepreneurs.

The Government of India (GOI) launches infrastructural and industrial development projects, but they also have a duty to safeguard the region's natural assets because doing so promotes sustainable growth. Due to India's commitment to lower its carbon intensity by 33–55% from 2005 levels by 2030 as part of the Paris Agreement's Nationally Detrimental Contributions (NDC), sustainability is also crucial for the nation's development efforts. Each activity should be evaluated for its impact on the environment, economy, and society in order to fulfill this pledge. The government's development of the region's infrastructure and PPP models will undoubtedly aid in its economic and social development, but the region's ecosphere should be maintained by evaluating all projects on environmental aspects. 

Because they are aware of the region's biodiversity and its fragility, young entrepreneurs should assume this responsibility and develop environmentally responsible business ideas. Entrepreneurs have a moral duty to put the interests of future generations before that of their shareholders. The planet doesn't need more millionaires; rather, it needs sustainable answers to issues. The new class of businessmen with the potential to contribute to the sustainable development of the northeastern region will be those that prioritize environmental sustainability and humanitarian causes over profits. There are already numerous efforts that have included the sustainable concept in their operations. These models are used in the manufacture of bamboo furniture, the production, and processing of kiwis, the preparation of foods, handicrafts, and the recycling of paper waste, among other industries. The Northeast's population has the capacity to create sustainable enterprises because of its ingrained culture of environmental preservation, which is supported by an abundance of natural resources. The NE region has the potential to develop a lot of female entrepreneurs because it is a maternal community. The North East has the potential to serve as an export hub because it borders China, Bhutan, Bangladesh, and Myanmar on the international level. Hopefully, the central and state governments as well as private players will increase their investments in infrastructure and connectivity. In that scenario, this region might be able to sustainably meet local and national demands.