Nagaland chief minister Neiphiu Rio has called for urgent resolution of the Naga political issue since it was hindering economic growth, foreign investment and local business in Nagaland. Addressing the inaugural of the ‘2nd Nagaland International Trade Expo (NITex)’ at Senden Riju here on Friday as chief guest, Rio underscored the impact of unresolved Naga issues on the state’s economic landscape, resulting in significant lack of external investors, heavily impacting the growth of local entrepreneurs and business people.
He said the unresolved issue had led to the immense potential and talents of the youth remaining underutilised, despite their abundance. He declared that a transformative change in mindset and a targeted intervention to the unresolved issue were imperative to unlock the full economic potential of Nagaland.
Rio mentioned that approximately 90% of business activities in the state were handled by individuals from outside the state.
Welcoming the non-Naga business community, he however lamented lack of progress in trade by Nagas, including setting up of industries and manufacturing units. He regretted that even after more than 60 years of statehood, Nagaland had not been able to progress much in terms of business growth, attributing the stagnation to the impact of unresolved Naga issue.
He disclosed that the Business Association of Nagaland (BAN) had engaged with him on multiple occasions, articulating their dreams and aspirations for the region. He expressed optimism that with intervention and a shift in the prevailing mindset, Nagaland could overcome its economic challenges and create a conducive environment for tapping the potential of youth. In a bid to address the challenge of unemployment and foster economic growth in the state, Rio dwelled on the Chief Minister Microfinance Scheme, designed to empower local entrepreneurs, particularly the youth, with necessary skills and financial support.
He acknowledged that youth were facing unemployment due to difficulty in securing support from banks, emphasising the urgent need for training and skilling programmes. Under the scheme, he informed the gathering that that loans up to Rs 15 lakh would be made available. He explained that entrepreneurs would contribute 10%, with the state and banks contributing 30% and 60% respectively, while repayment of the principal amount would commence after seven years, encouraging sustainable growth.
He also underscored the importance of skill development, urging the youth to undergo training to capitalise on the vast talent pool in weaving handloom and crafts. Expressing hope for change in mindset, he called upon Nagas to actively participate in entrepreneurship discussions and become conscious contributors to family trade. He also cautioned against abuse of wealth and economy.
Acknowledging the positive trend of today’s youth becoming more responsible and interested in business, Rio stressed moving beyond micro and small-scale enterprises to setting up large industries.
Praising the initiatives of BAN, he assured support from the state government and departments concerned. He noted the positive impact of local producers, envisioning a future where Nagaland’s economy thrived through organised efforts and strong linkages among farmers, producers, and markets.
As Nagaland approached 64 years of statehood, he expressed deep concern over lack of substantial discussions on economy and entrepreneurship, pointing out the state’s heavy reliance on grants for survival.
He highlighted the state’s dependence on deficit grants recommended by the Finance Commission, revealing a significant absence of revenue to fund essential projects such as the longstanding aspiration to construct Foothill Road and an airport in Kohima.
He underscored the importance of self-reliance for smaller initiatives, adding that bigger projects would be presented to the Central government.
Deliberating on the vibrant culture and diversity of Nagaland, he termed the Hornbill Festival as an international event, citing its ability in drawing a huge number of domestic, national and international tourists. He attributed the festival’s popularity to the rich cultural traditions, cuisines, and traditional products showcased, stressing deliberations to focus on leveraging Nagaland’s unique cultural heritage for economic development.
He also highlighted the crucial role of the event in encouraging entrepreneurship, especially among the youth, acknowledging the enormous challenge faced by state’s younger generation.
Emphasising economic self-sufficiency, Rio expressed the hope that NITex would serve as a catalyst for opening minds and creating awareness about business opportunities available. He envisioned a Nagaland transforming itself from being perceived a liability to becoming a significant contributor to India’s growing economy.
He aligned his vision with India’s national goal of achieving developed country status by 2047 and stressed hard work to avoid being left behind. On the occasion, the chief minister also virtually inaugurated the Dimapur National Small Industries Corporation (NSIC) building.
Earlier, in his welcome address, president BAN Mongkhum Jamir maintained that small businesses were the cradle for the country’s economy. He said that 33% of micro and medium enterprises contribute to the country’s GDP in addition to providing employment to more than 11.1 crore people.
With Centre’s declaration that India would be made a 5 trillion-dollar economy by 2027-28, he said it would be far-fetched if small states like Nagaland were not taken into consideration. “It has to be where the big states and small states are brought for equitable development. Today’s expo is a contribution of that very small step that BAN has taken up,” he said.
Earlier, the programme was chaired by convener of BAN’s standing committee on tourismZubeno Mozhui, and a short speech was delivered by NSICzonal general manager Vijay Prakash, while vote of thanks was offered by BAN vice-president(international) Dr Yan Murry.
Students of Mount Mary Higher Secondary School, Chümoukedima sand the national anthem and special number was presented by Koko Savino.
-Nagaland Post
