Monday, August 08, 2022

Nagaland getting only 0.006% share of CSR investment — Alemtemshi

By Reyivolü Rhakho Updated: Jul 02, 2022 11:34 pm
Alemtemshi Jamir accompanied by Menukhol John, advisor to the chief minister, addressing a press conference in Kohima on Saturday.

Our Correspondent

Kohima, July 2 (EMN): Nagaland is looking at improving investments in the state out of the corporate social responsibility (CSR) conclave and bankers’ colloquium scheduled on July 4 and 5 in Kohima where Union Finance Minister Nirmala Sitharaman is scheduled to attend.

Chief Executive Officer of Investment and Development Authority of Nagaland (IDAN), Alemtemshi Jamir on Saturday said that Nagaland has not been getting its due share of CSR activities. The state’s share is around INR 27,000 crore but it is getting only 0.006%, which is minimal. Therefore, this conclave has been organised to try to attract more CSR investments in the state, he said.

The CEO expressed hope that the coming of FM to the state “will make a big change” and the event will help Nagaland “move forward”. He was addressing a press conference at the IDAN office in Kohima on Saturday.

 The two events will be held separately. The CSR conclave will be held in the State Banquet Hall at the Chief Minister’s Residential Complex, Kohima and Bankers meet at the Nagaland Baptist Convention Centre. Along with the two events, an investors’ meet will also be held.

A total of over 50/60 chief executive officers/ chief experience officers from various industries/companies are expected to attend the two-day events in Kohima.

 ‘We expect a lot of outcome from the conclave’, he added.

‘CSR is basically for NGOs and grassroots level to be able to interact with the companies. In this regard, a lot of processes are taking place at the grassroots level. The IDAN has been working for the last few months collecting schemes and proposals and pushing them into corporate circles,’ he said.

 He expressed hope that a large number of proposals will be selected. About 20 NGOs/companies in the state have fulfilled the criteria of CSR investments, he added.

He informed that they have listed about INR 40 crore against their prior commitment of about INR 50/60 crore for the CSR conclave. They are hoping it would touch INR 100 crore and beyond. But it depends on how NGOs make their proposals/ for the companies to invest, he added.

On the banking side, they have decided for about INR 100 crore loans to be dispersed at their banking colloquial/credit outreach. From INR 100 crore, they are trying to increase it to INR 200 crore. But over and above, they expect the conclave and banking will help a person to get to know the companies which is one of the main barriers to cross.

Globally, the social, economic and political paradigm is changing and things are moving into the private sectors. They are growing in terms of not only adding to the GDP but in the development sector. This year, CSR activities are particularly aimed at contributing to the SDGs,he said and expressed hope for good results from the conclaves.

Major companies like Tata Steel, banks, software companies, petroleum companies, and companies representing various sectors are expected to attend the conclave. A delegation of 58 industrialists representing large corporations across the country is also likely to attend the event.

By Reyivolü Rhakho Updated: Jul 02, 2022 11:34:31 pm