Union Finance Minister Nirmala Sitharaman inaugurates Nagaland CSR and Investment Conclave

Our Correspondent
Kohima, Aug. 22 (EMN): Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman inaugurated the Nagaland Corporate Social Responsibility (CSR) and Investment Conclave 2022, at NBCC Convention Centre, Kohima, on Monday.

She arrived at Dimapur airport on Monday afternoon, before leaving for Kohima in a helicopter to attend the CSR and Investment Conclave.

Addressing the gathering, Sitharaman said the conclave would be the stepping stone for investment and CSR in the state.

‘There will be many more that will come, many who will take interest and many who will find a greater cause and possibly for potential investments. The conclave will have to open up avenues for investments in Nagaland,’ she said.

‘CSR in many parts of the country is being pushed on the basis of the board’s decisions. As a result, funds are provided in areas in which they see greater potential for social activity,’ she added.

The union minister said that the state is faced with a conundrum of ‘chicken’s neck situation’, wherein CSR comes with investments, and therefore investors are taking time to come to Nagaland.

Pointing out that there is a greater interest in healthcare, which seems to have drawn a lot of CSR with specific niche areas, she said, the initiative should be encouraged and more people should come in to strengthen the primary healthcare of Nagaland.

Referring to the Confederation of Indian Industry’s announcement to set up a training centre for skilling with proper certification, she said it could be one of the ways the youth in the state can be brought in as part of CSR activities. ‘Such training will only provide immense job opportunities for the youth of Nagaland anywhere in the country.’

Organic challenge

While the products from the state may be organic, the Finance minister pointed out that there will be problems. “Given the terrain of the Northeast, aggregating such products without loss of time from the farmland and finding a market is the biggest challenge,” she said.

Today, the world wants organic products and Nagaland is sitting with the wealth of organic products, she said, while suggesting identifying a product for each district, be it perishable agriculture products, long-term products, handicrafts or anything.

‘Once identified, there are ways in which the union government, together with the banks, can assist in setting up the primary infrastructure, bring in the digitized benefits of marketing it and take it further,’ she said.

Pointing out that branding is a “big deal”, she suggested finding the best way to communicate about the state and its unique products.

The Finance minister observed that students in Nagaland require facilities for Science and Technology education.

Science, technology, engineering, and medicine have to have greater facilities available for students to study, she said, while urging the state government to ensure that schools and colleges in Nagaland get the benefits of Atal Tinkering Labs.

Maintaining that drones are adding efficiency to agriculture, she invited the youth of state to pursue the technology and see if they can contribute to it.

She further pointed out that there is a big potential in domestic tourism, particularly homestay.

She also suggested forming a task group of Naga youth who can become brand ambassadors by moving across the country on behalf of Nagaland government and convey the message of state to others.

Nagaland has to catch up and develop as fast as many of our states. India’s development cannot be without each and every state developing fully, she added.

Rio urges firms to invest in state

Chief Minister Neiphiu Rio expressed hope that with the participation of industries in the right spirit and using its CSR funding or investments, the state can become part of the national and global value chain, commanding premium prices and thus increasing farmers’ income.

He urged the companies to set up projects from all regions and districts of the state in the interest of equitable development. Besides CSR, the 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, he added.

On the banking sector, he expressed hope that the bankers’ meet conclave would result in a hassle-free credit, adding that the government also would contribute towards developmental endeavours and promoting entrepreneurs.

‘There are resource and capacity constraints, and challenges of remoteness and geographical terrain, that sometimes hinder progress,’ he said. However, he hoped that companies with its resources, innovation and expertise can help the people of the state.

“We expect that the companies will use innovative solutions and resources to supplement the Government’s 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,” Rio said.

Highlights of the inaugural CSR and Investment conclave included the launch and announcement of initiatives by the Union Finance minister and the inauguration of exhibition stalls.