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Rio says youth are driving force behind economic development

KOHIMA OCT 10 (NPN)(Correspondent)
Published on 11 Oct. 2012 12:38 AM IST
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Chief minister Neiphiu Rio Wednesday said the youth were the driving force behind the state’s economic development through entrepreneurship.

The chief minister was addressing the ‘Business Interface’ inaugural session on ‘partnership between financial institutes and entrepreneurs–opening investment and credit windows’ in Nagaland organized by Entrepreneurs Associates (AE), Nagaland at the convention centre, new secretariat complex Kohima.

Pointing out that Nagaland was the land of opportunities, Rio, however, said it was yet to make further progress in entrepreneurship and banking sectors. He said the government was committed to help entrepreneurs but advised them to first build trust with the people and banking sectors.

Rio said Nagaland had very low CD ratio with only 35.38% against the national ratio of 73% and also comparatively least among the Northeast where Assam was 45.6%, Manipur 41% and Mizoram 41.67%.

He appealed the banking sectors to offer more privileges to the entrepreneurs and business people as an obligation to build the state and nation as well.

Even millionaires and billionaires also took loan from the bank at the initial stage, he added. The chief minister advised the local entrepreneurs to produce more local items with better quality for the tourist to take home as a souvenir of Naga products.

Emphasizing on the importance of developing business sense, Rio said Nagas needed specialization in their professional line besides learning to work, earn, save and invest.

The chief minister said every business was profitable if one was committed and remained constant in the profession chosen.

He advised the entrepreneurs not to live/spend beyond their capacity and avoid doing many things at the same time. The chief minister also stressed on the importance of self-employment and self-reliance and said the government could not give “collar jobs” to all the educated youth as jobs in government departments were already saturated.

Subhash Joinwal AGM (SME) SBI local head NER in his address said SBI was closely associated with the entrepreneurs in the state and last year, there were 297 proposals for loans out of which 221 were approved amounting to 48 crores.

Neichute Doulo coordinator CEO, EA in his keynote address said for too long Nagaland has been driven by salaried economy.

He said the declaration of the year of entrepreneurs in 2010 at Mokokchung by the state chief minister was an epoch making landmark which created a shift from salaried economy to an economy driven by entrepreneurial spirit.

Neichute also pointed out that business interface between entrepreneurs, banks and policy makers would elevate the process and make Nagaland a destination for investment and credit and expressed gratitude to the banks and state government for assisting entrepreneurs.

A.S.R. Krishna circle head NE circle Axis bank, Alok Sinha AGM Regional head Jorhat UBI, Olee Bora AGM Micro Finance head NEDFi addressed the gathering in the inaugural session on ‘Essence of banks in Nagaland’s development’. Dr. Aotoshi Chairman CII Nagaland council also gave the concluding remarks.

Remheu Zeliang AGM project finance NEDFi, Prasanta Sahu micro finance corporate office Mumbai Axis, A.K. Das AGM RBO SBI and Paritosh Dhar chief manager (credit) regional office Jorhat UBI spoke on business promotion in Nagaland in the second session. T.K. Angami spoke on “thoughts on business”.

Zaren Odyuo proprietor/GM tribal group, Ben Imchen chair, Young Indians Nagaland, Roselle Mero MD people channel and Tsuti Longkumer chairman Longpok Holdings shared their experiences as first generation entrepreneurs. 

At the conclusion of the programme, addl. chief secretary and finance commissioner Toshi Aier said government was commitment to unleash entrepreneurship in Nagaland.

Earlier, the programme began with invoking God’s blessing by Rev. Phomlee pastor Phom Baptist church Kohima. Folk songs were presented by Pete-u and Rhite Kapfo, Kivitoli and Mughatoli Wotsa. Deo Movi core member EA proposed vote of thanks.

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