Land laws changed to promote entrepreneurship — Rio

Our Correspondent

Kohima, Oct. 26 (EMN): Chief minister Neiphiu Rio on Friday said the state government has passed a resolution to relax land laws, particularly in the foothills where commercial activities can prosper, to enable Naga entrepreneurs avail loans to start or expand their business.

He said the existing landholding system hinders entrepreneurs from availing loan from banks, as it does not allow anyone to mortgage land, becoming a stumbling block for many young entrepreneurs.

Speaking at the launching programme of Entrepreneurs Association Innovation Fund (EAIF) Award 2018 at Jotsoma, Rio cited lack of financial support and landholding system as the two major constraints for Naga entrepreneurs.

Citing a data according to which only 31.04% availed loan in 2014—a slight increase from 26.09% in 2011—he said, ‘our people are not getting loans because of various factors’ and also revealed that out of 74 RD blocks only 44 are ‘banked.’

Stressing on the need for relaxation of the existing land laws—and taking into consideration the requirements for real viable profitable business viz. cheap labours, availability of raw materials, easy accessibility and cost—he requested the landowners, tribal hohos to come forward to survey the land to introduced patta system.

“Though our situation is not very conducive for business adventures, we have to survive. We have to be innovative and find ways on how to survive,” asserted Rio.

The chief minister stated that dreaming big with minimum work ethics will not produce any result. To be a businessman, Rio pointed out, is not just about oneself but competition, and therefore, one needs to be alert and creative to invent and discover new things.

The Entrepreneurs Associates requested the chief minister to help it access start-up finance from financial institutes by providing a state government guarantee.

Towards this end, Rio recalled the government has had bad experiences in the past. However, he assured the EA that if proposals are viable, his government will explore all means and extend support.

He also mentioned how the government has extended seed money to many entrepreneurs during the ‘year of the entrepreneur’ in 2010-2012. However, he appreciated EA for producing many success stories.

CEO & Coordinator, EA & Group of Social Ventures, Neichute Doulo sought the support and partnership of the government to Nagaland an ‘Innovation Hub’ towards an inevitable transition from the retail world of Nagaland’s walk with entrepreneurship.