Nagaland to spend another Rs 2.7 crore as FM Sitharaman reschedules visit

Kohima: After spending around Rs 2.5 crore, Nagaland is once again set to spend around Rs 2.7 crore to host the much-awaited Nagaland CSR, Investment and Banking conclave from August 22-24, over a month after the proposed event was put on hold. 

The CSR, Investment and Banking Conclave was initially scheduled from July 4-6, but was postponed as Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, rescheduled her visit a day ahead of the conclave. 

The Finance Minister’s last visit to Nagaland was planned in advance, but had to be rescheduled at the last minute due to visit of the then Presidential candidate, and now President of India, Droupadi Murmu, to the state during those dates in which the state administration was closely involved. Sitharaman had to reschedule her visit based on discussions with the state administration.

However, the state government organised a precursor event to the conclave on July 4 as participants arrived in the state. By then, the state government had spent Rs 2.5 crore for the event. 

During the event, chief minister Neiphiu Rio emphasised that the state is prioritising developing a facilitative and investor-friendly eco-system.

Determined to open its doors for investment, Nagaland would be spending an additional amount of around Rs 2.7 to Rs 2.8 crore to host the event.

Addressing a press conference at the Investment and Development Authority of Nagaland (IDAN) conference hall, CEO IDAN Alemtemshi Jamir informed that the conclave is categorised into three events: CSR conclave, bankers meet and investors meet. 

The event would begin with the inauguration of the conclave at the Nagaland Baptist Church Convention (NBCC) convention at Secretariat in Kohima. 

On the second day, Sitharaman is scheduled to visit Mon for the dedication of Axis bank. She will then return to Kohima for the bankers’ conclave at the State cultural hall in Kohima. Simultaneously, the CSR conclave would take place at the cultural hall, and the investors’ meeting between investors and local entrepreneurs is scheduled to take place at the IT&C Directorate. 

On the third day, the FM will meet with women entrepreneurs and business associations in Dimapur. 

With rumours doing the rounds that the event is scheduled for a selected few, Jamir said that event is open for all Non Governmental organisations (NGOs) and civil society organisations (CSOs) to apply for CSRs. 

He said that the conclave is an open field and is the beginning of a whole new world of opportunities for entrepreneurs to venture. As facilitators, IDAN would continue to bridge the gap between investors and entrepreneurs. 

While Nagaland has been deprived of investments due to various factors like insurgency, land issues and so on, he said that the government is stressing having homegrown entrepreneurs to attract investments to the state. 

Advisor to Nagaland Chief Minister Menukhol John informed that 114 delegates from across the country attended the precursor event, and it was not a “total washout”. He said that there are huge takeaways from the event and developments of the event would be announced on August 22. 

Most delegates, most of whom are corporate heads, bankers and investors, turned up for the precursor event and are excited for the second chapter of the conclave, he said. 

To this, Jamir added that the number of delegations could increase to 200, including 60-70 investors roped in by the Confederation of Indian Industry (CII). 

He also informed that the State Bank of India (SBI) would release Ra 250 crore to its beneficiaries during the bankers’ conclave. 

Joint secretary IDAN, Reny Wilfred, informed that IDAN has so far received over 400 projects to be presented to the visiting corporates. He informed that a book containing details of entities from Nagaland would be distributed to visiting organizations. 

Further, he clarified that IDAN is only a facilitating agency and not an implementing agency. 

Principal Director of School Education, Thavaseelan K, informed that the stalls would be set up during the conclave where organisations and entrepreneurs would present ideas and pitches. 

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