Small businesses are the cradle for our economy: BAN president

Chief Minister Neiphiu Rio inaugurating the Nagaland International Trade Expo at Senden Reju, Purana Bazar, Dimapur on January 19. (DIPR Photo)

Chief Minister Neiphiu Rio inaugurating the Nagaland International Trade Expo at Senden Reju, Purana Bazar, Dimapur on January 19. (DIPR Photo)

Dimapur, January 19 (MExN): The 2nd Nagaland International Trade Expo (NITEX) was inaugurated by Neiphiu Rio, Chief Minister of Nagaland at Senden Reju, Purana Bazar, Dimapur on January 19.

According to a DIPR report, Mongkum Jamir, President of Business Association of Nagas (BAN) in his welcome address said that small businesses are the cradle for our economy and that 33% in total of the country’s GDP is contributed by Micro Small & Medium Enterprises.

He said that the announcement made by the Finance Minister of India stating that India will achieve 5 trillion dollar economy by 2027-28 will be far-fetched if smaller states like Nagaland are not taken into consideration it has to be where big states and smaller states are brought for equitable development. Jamir said that there needs to be a good connection between the government and private sectors and that the expo will create, mobilise, and promote entrepreneurs of the state.

He also said that the expo will also help in identifying and intimately working out better infrastructure for the state so that there is a system of entrepreneurial ecosystem which will help in the State’s economy, the DIPR report stated,

Many MoUs will be signed: Rio
Speaking as the chief guest during the trade expo, the CM expressed his happiness to the National Small Industries Cooperation for opening a branch office in Nagaland at the Business Association of Nagas (BAN) office. He expressed his gratitude to different banks and other financial institutions for committing to the entrepreneurs and for guaranteeing to give credit link funds. 

Rio said that during the expo many MoUs will be signed where opportunities are given to the interested persons in business ventures. He said that Nagaland has many market places, shops and manufacturing units but there are very less outside investors, and local business is not making much impact, hence intervention is required. 

He said that BAN plays a big role in creating business opportunities for the youths and with the help of the State government, BAN and other agencies Nagaland will not only have micro industries but big industries. He hoped that the expo will help in showcasing the local produces and create market linkages. Rio encouraged the youths to take the opportunity of the expo to create a relationship with the stakeholders. 

Rio also said that the financial institutions are looking for the viability of the skills of the youths and he therefore asked the youths to get trained and skilled. Rio also said that the expo will give a platform to generate our own income and to become self sufficient. 

National Small Industries Cooperation Branch office, Nagaland was virtually inaugurated by the Chief Minister during the inaugural of the expo.

The programme was chaired by Zubeno Mozhui, Convenor of standing committee on Tourism, BAN. Vijay Prakash, Zonal General Manager, Nagaland Industries Cooperation also gave a short speech , vote of thanks was pronounced by Dr Yan Murry, Vice President BAN. National Anthem was sung by the students of Mount Mary Higher Secondary School, Chümoukedima and a special number was presented by Koko Savino.