Morung Express News
Dimapur | February 1
THE MARKET in the commercial hub of Nagaland started the day on a positive note with ceasefire extended for another six months starting from today. Along with the rest of the State, the business groups have welcomed the extension of ceasefire between the Indian Government and the NSCN (IM). Shortly after the announcement, top executives from leading business establishments expressed a huge sigh of relief. “We are indeed relieved” commented the owner of the leading business stores, Orchids here in Dimapur.
Business groups had expressed fears that any breakdown in the ceasefire would have snuffed out the incipient market in Nagaland.
However, the news of the 6- month ceasefire extension had an immediate psychological effect with money interaction and investment plans picking up after a weeklong period of lull following uncertainty with news report that the Bangkok talks remained deadlocked.
Signs of tension prevailed among the businesswallas during the truce talks recently, said another leading businessman in Dimapur. “We established our business since 30 yrs ago and faced a lot of ‘events’; we were ready for any eventualities”, said another leading business dealer who refused to be named. “A breakdown in ceasefire would have affected the entire market system and especially supply goods. Suppliers from Calcutta, Delhi and other commercial metros hesitate to deliver goods here if any such eventuality takes place”, Sleep- well brand dealer told The Morung Express.
According to information received, many potential investors had parked their money in the safe deposit of banks as a result of low confidence in the market. Sources from several City Banks disclosed that Wednesday’s business hours saw several people withdrawing their deposited amounts. Financial analysts pointed out that this was a sign of people regaining confidence to go ahead with their investment plans.
