CAWD & Taxes Advisor Kudecho Khamo. (DIPR Photo)
Our Correspondent
Kohima | March 10
Nagaland CAWD & Taxes Advisor Kudecho Khamo said that MSMEs is considered as the main catalysts for generating employment opportunities next to Agriculture in India and has been contributing more than 30% of the Gross Domestic Product (GDP) of the Indian Economy.
Speaking at the ongoing 8th session of 14th Nagaland Legislative Assembly (NLA) on March 10, he maintained that MSMEs also has being playing a transformative role in generating employment and contributing immensely to the growth of the State’s Economy. It has become the catalysts for generating employment and fostering economic growth.
He said that MSMEs has becoming the powerhouse, driving economies and sparking entrepreneurship, fostering creativity, and providing livelihoods to both skilled and unskilled youths.
“However, despite this growth and contribution, financial constraints, inadequate infrastructure, and limited digital adoption remain major challenges. Therefore, addressing these barriers through better financial accessibility, skill development, and policy Interventions is crucial for sustaining MSME-led growth,” Khamo said.
In this, he said that policy intervention of the state government and the active participation of all the Nationalized and Private Banks operating in Nagaland are essential for the development and growth of the MSMEs in the state.
He thanked Chief Minister Dr Neiphiu Rio for playing the leading role in the implementation MSME policies and strategies by launching Raising and Accelerating MSME Performance (RAMP) which is the strategic World Bank-supported initiatives to boost economic growth, competitiveness, and job creation in Nagaland and For Promotion of Entrepreneurship & Local Economy.
He said that Dr Rio launched the Nagaland Entrepreneurship Impact Forward (NEIF) 2035, aimed at supporting 10,000 entrepreneurs and generating 50,000 jobs by focusing on local sectors like coffee, honey, Naga chilli, and eco-tourism.
Khamo also commended on the launching of Skill Development and Employment: launched the Nagaland Skill Entrepreneurship Development Mission (NSEDM) 2025 to bridge the gap between education and employment, facilitating easier access to skill training and Chief Minister’s Micro Finance Initiative (CMMFI) to foster entrepreneurship and strengthening livelihood activities.
He (Dr Rio) has pushed for the use of the “My MSME” App and supported the creation of an all-women BPO center in Dimapur to foster a digital economy and inclusive growth,” Khamo said.
With all this policies and strategies in placed and the commitment of our government, the state youths can confidently look beyond government jobs which is already saturated and explore opportunities and ventures within and outside the state that creates employment, generates income and becoming a proud leaders in the World of Entrepreneurship, he said.
For the success of all the government strategies, policies and schemes, youth must have the courage to venture out and the banks operating in the state must come forward, Khamo said adding that bank must shift from “deposit collectors” to “Credit Providers” becoming the “Local Economic Development Partners”.
He expressed dismay over the poor performance of the Banks and financial Institutions in the state, adding “They have multiple excuses when it is entrepreneurship which they must change or otherwise we change them by closing all our accounts in those banks who are not cooperating.”
