Director of Industries and Commerce, P Tokugha Sema and others during the seminar held in Dimapur on May 23.
Morung Express News
Dimapur | May 23
A seminar on the Uttar Poorva Transformative Industrialisation Scheme (UNNATI), 2024, was organised by the Department of Industries & Commerce (I&C), Nagaland, on May 23 in Dimapur. The seminar was conducted in collaboration with Saurav Sahewalla, a Chartered Accountant, who introduced entrepreneurs, who signed up for the seminar, on the scheme’s subsidy policy and GST compliance guidelines.
The UNNATI 2024 was launched by the Union Ministry of Commerce and Industry on March 9, this year, subsequent to which registration began. According to Sahewalla, the scheme was designed to strengthen the industrial ecosystem in the 8 north-east states by serving as a catalyst to attracting new investment. It seeks to achieve this by providing incentives, including capital investment, to eligible new industrial units and existing ones wishing to expand business, besides capacity building initiatives.
Access to predefined process based incentive, streamlined application process and guidance and support from experienced professionals were outlined as the salient features of the scheme.
It will be eligible to entrepreneurs or business units, both manufacturing and service sectors, either for starting a new business or expanding an existing one. It defined ‘existing business unit’ as one that started commercial production or operations prior to March 9, 2024 and has a valid GSTIN in the concerned state of the northeastern region.
The Director of Industries and Commerce, P Tokugha Sema, termed the scheme as crucial to activating the entrepreneurial potential of the state. According to him, Nagaland has lost many good opportunities in the past and cannot afford to “lose opportunities anymore.” He said that UNNATI 2024 is for genuine entrepreneurs, who can change and revolutionise the business culture for the better, and not only for availing subsidy.
“We should not falter anymore,” he said, while insisting on identifying and supporting genuine entrepreneurs.
