Monday, October 3, 2022

Sitharaman on 3-day visit to state from Aug 22


Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman, who had postponed her visit to the State in July last, is slated to visit Nagaland from August 22-24 to attend Nagaland Corporate Social Responsibility (CSR) & Investment Conclave 2022.
Addressing a press conference at Investment and Development Authority Nagaland (IDAN) conference hall, the IDAN CEO, Alemtemshi Jamir, said the union finance minister has con-firmed her three-day visit to attend the CSR conclave, Bankers and Investors meet apart from holding a series of meetings.
Highlighting the importance of Sitharaman’s proposed visit, Jamir said it would attract a good number of corporates, investors and bankers to the State and pave the way for economic opportunities to boom.
Stating that developmental process all over the world was going through a paradigm shift, the IDAN CEO, therefore, said it was important that Nagaland should also open up itself to absorb investments and catch up with the rest of the world. He said that for a long time the State had failed to access to the huge potentials that were attached to CSRs and investments.
Dispelling rumours that the conclave would be accessed only by a selected few, Jamir clarified that it was open to anyone and everyone willing to be part of it.
He said the conclave would be an open field and was just the beginning to a whole new world of opportunities that would open up for entrepreneurs who were willing to venture out.
He said IDAN was only opening the door and bridging the gap between investors and entrepre-neurs. Jamir informed that any CSO could apply for the CSRs provided they were eligible and meet all the criteria.
Jamir disclosed that IDAN was a CSR registered body and had been working closely with deputy commissioners of all the districts to identify eligible CSOs for the CSR.
He also pointed out that the benefits of banking were still untapped as people had only started accessing the banking sector very recently and had not been able to fully exploit the potentials available in the sector.
Jamir further informed that IDAN had formed a dedicated Centre for Financial Outreach (Co-FU) to help people link up with the banks.
He observed that the provisions in Article 371(A) coupled with the protracted Naga issue had discouraged investors from venturing into the State.
Advisor to CM, Menukhol John, claimed that the precursor event, held in the month of July, although postponed, was not a total washout.
He said there were many takeaways from that event and many of the companies and corporate houses that turned up for the precursor were willing to come back.
John disclosed that the delegates had expressed happiness at the preparations and arrangements made by the State.
On the second day of her visit, Sitharaman is scheduled to visit Mon where she would be inaugurating Axis bank.
CSR conclave would be held at Nagaland Baptist Church Council (NBCC) convention hall and the Bankers Meet at Capital Cultural Hall simultaneously while Investors Meet will be held at IT directorate. IDAN has reportedly received more than 400 project reports so far.