Sitharaman urges corporates & industries to choose Nagaland

Nagaland CSR & Investment Conclave 2022 begins

Our Correspondent
Kohima | August 22

Union Finance & Corporate Affairs Minister, Nirmala Sitharaman today launched several initiatives and MoUs under Corporate Social Responsibility (CSR) extended by various companies on day one of the Nagaland CSR & Investment Conclave 2022 here at NBCC Convention Centre, Kohima.

Addressing the conclave, she appreciated Nagaland Chief Minister, Neiphiu Rio for ensuring that CSR reaches the state and not in small numbers but in big numbers. She hoped that various companies would put effort in building the brand for Nagaland.

Sitharaman urged corporates and industries to naturally choose Nagaland although it would take a little bit of effort. On mandatory CSR investments, she said the CSR board takes the decision and depending on social activity, funds are provided, and CSR happens when investments take place. She added that without the mandatory rule, a lot of investors have come in to check up, and the conclave should be the stepping stone for many more investments.

She mentioned the growing importance of healthcare and logistics, in which the youths can take active part. She expressed the need to set up CII training centres for the young people to get skilled along with certificates and take leadership role in those sectors.

The Union Minister said organic vegetables and fruits are in great demand, which the state produces but aggregating, storing and finding market is a challenge. She also stressed on identifying one product in each district with common facilities and digitise marketing.

"It is a big deal once you identify it with an image; global markets are waiting but efforts have to be made to brand it," she said. 

She said that there is a big potential for domestic tourists to come to Nagaland for homestays and be part of the Naga tribes’ homes. Sitharaman stated that a lot of youth in India who want to have exotic experiences should be invited for homestays, in each of the tribe's houses.

She urged the Tourism Department in the state to do some innovative thinking. Agriculture is a big thing here, she said, and stressed on the need to bringing in more efficiency into agriculture practices.

To ensure CSR reaches Nagaland, the Union Minister suggested a task force of Naga youth to move around the country and to ensure building brand Nagaland. She expressed appreciation to the companies and investors who had brought in investment, and ensured giving resources for equal development of all the states in India.

CM encourages companies to invest in Nagaland
Chief Minister Neiphiu Rio said that this conclave would not have been possible without the personal interest and support of the Union Minister. He thanked the Government of India for bringing greater focus on development of the North Eastern region of the country.

“As a result, not only government but also the private sector is looking at the North-East with a fresh perspective. The mandatory requirement of spending for Corporate Social Responsibility by companies has opened up immense opportunities for companies to participate in grassroots development activities, while not losing sight of their business commitments. However, Nagaland has not been on the radar of the corporates and the amount spent in Nagaland has remained very low,” Rio said.

As per figures available, the total spend by companies in Nagaland has been less than 0.01% of the total CSR/spend in the country. There is a scope and potential for companies to increase their spending in the State tremendously, he said.

He said that this Conclave would provide the platform for the CSR spending companies to harness the various opportunities that Nagaland offers. It will not only help companies identify the right projects, but also the right organizations to partner with for implementing these projects.

Our objective is, however, not limited to getting companies to spend larger amounts of CSR in Nagaland. In seeking CSR Investments, the State Government is not trying to replace its own development initiatives, Rio said.

We are hopeful that the companies will also bring along the spirit of private enterprise which will help the youth of the state to imbibe the culture of entrepreneurship, he added. As part of this conclave, Rio said, we are holding parallel tracks on CSR, Investment& Start-Ups, and Banking.

We are confident that the conclave will deepen our engagement with the private sector and banks; encourage partnerships between local entrepreneurs, start-ups and established companies across the country, he stated.

Rio hoped the companies will use innovative solutions and resources to supplement government efforts to meet the evolving challenges of public service delivery, especially in the health and education sectors, and in the remote parts of the state. He said that employment and skill development of the talented youth is another important area of interest for industry partnerships.

“Our vibrant pool of educated and talented youth is our most valuable resource. With employment in government sector saturating, and also changing aspirations, we would like them to have their own successful enterprises where they employ others and contribute optimally to the growth of the nation,” Rio said.

Explore untapped potentials
In addition to CSR, Rio said that state expects participating companies to explore the untapped investment potential of the state/in forest, agriculture, handicrafts, education, medical, bamboo, hospitality, tourism, music and arts sectors.

In order to facilitate investors, we have already launched the single window system. We are also working to enable long-lease/land holdings in select areas, he informed.

On the banking front, he hoped that the banking track of the conclave would result in more hassle-free credit off take from the banks and they would also contribute their bit not only in development endeavors but also in promoting budding entrepreneurs.

Sanjay Malhotra, Secretary, Department of Financial Services also addressed the gathering. Investment and Development Authority of Nagaland (IDAN) Chief Executive Officer, Alemtemshi Jamir delivered the welcome remarks.

Nagaland Chief Secretary, J Alam talked on “The Business, Economy &Social Environment- A state overview’ while Youthnet founder Hekani Jakhalu shared ‘Experience of doing CSR in Nagaland.’

R Dinesh, President Designate of Confederation of Indian Industry (CII) talked on ‘Industry Perspective’ while North Eastern Council (NEC) Secretary, K Moses Chalai highlighted the North East regional perspective. (With DIPR inputs)