RULING Democratic Alliance of Nagaland (DAN) is keen to economically develop the State and is taking various measures to boost the economy to this effect. During the North-East business summit in Delhi in January, Nagaland showcased itself as one of the prime destinations for investment. Chief Minister Neiphiu Rio has said that his government was committed to rapid and sustained industrial development in the State through enhanced investment and friendly environment . 

Mr. Rio asserted that Nagland’s abundant natural resources, inter-linkages and trade opportunities with neighbouring countries would give the  entrepreneurs innumerable economic possibilities. He assured better infrastructure, institutional support, attractive incentive packages and optimum utilisation of exisiting resources to the entrepreneurs in order to gainfully exploit the opportunities in the national and international markets. Nagaland Industries and Commerce minister Khekiho Zhimom has urged the various financial institutions to identify entrepreneurs for the success of respective projects. The Northeastern Development Finanace Corporation Ltd (NEDFi) had sanctioned Rs 11.74 crore to 63 units in Nagaland, out of which Rs 10.16 crore had already been disbursed. This had resulted in total capital formation of Rs 18.93 crore and direct employment generation to about 1,400 people of which 25 per cent were women entrepreneurs.

As many as 18 NGOs,   including four village councils, had availed of the assistance involving a sanactioned amount of Rs 1.1 crore under the micro-finance scheme. The NEDFi has disbursed an additional Rs 11.68 crore under    the central transport subsidy involving 195 units.

In order to market the local products, NEDFi had set up a ‘NEDFi haat’ at Guwahati. The NGOs from Nagaland have also availed of the facility. NEDFi’s future plan of action for the state included more thrust on micro-finance for medicine and aromatic plants, horticulture sector and development of industries on selective basis. Nagaland could take the lead role if it could develop sectors like agri-horticulture, handloom and handicraft agro based processing units, cultivation and distillation of medical and aromatics plants. Meanwhile, the North Eastern Council (NEC) and the Infrastructure Development Finance Corporation Ltd (IDFC) have signed an MoU in terms of which IDFC will oversee the viability of projects and act as intermediary between the Council and parties interested in investing in infrastructure-related projects in the region.

Although the Centre earlier decided to reduce the NEC’s budget, Prime Minister Atal Behari Vajpayee has assured that the Rs. 500 crore-budget would be restored, owing to opposition from the State Governments.

The MoU, signed by representatives of the NEC and the IDFC on January 29, has also identified key sectors in which to “concentrate and encourage orderly development” of infrastructure, according to official sources. “We will be putting special focus on five key sectors which are seen to be crucial to a future growth path for the NE. These sectors are tourism, energy and urban infrastructure, besides health and road transport,” official sources at IDFC said.

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