Guwahati: The Nagaland government, in association with the Ministry of Development of North Eastern Region (DoNER), organised an Investors Roundtable at Chumoukeidima to showcase and promote Nagaland and the Northeast region as a hub for trade and investment to Global Investors on May 3.
The roundtable was jointly organized by the Department of Industries and Commerce and Investment Development Authority of Nagaland in association with FICCI (Industry Partner), Invest India (Investment Facilitation Partner), and Ernst and Young (Knowledge Partner).
The officials of DoNER informed Business Northeast that the Roundtable was graced by Chief Minister of Nagaland Neiphiu Rio, and Deputy Chief Minister, TR Zeliang, Planning and Transformation. Dignitaries at the event included Lok Ranjan, Secretary, Ministry of DoNER, Abu Metha, Chairman, Investment and Development Authority of Nagaland (IDAN), J Alam (IAS) Chief Secretary, Hekani Jakhalu Advisor, Industries and Commerce, R Ramakrishnan (IAS) Development Commissioner, Nagaland, Kekhrievor Kevichusa (IPoS) Commissioner Secretary, Industries and Commerce, Nagaland, R. Lalrodingi Advisor (Banking and Industries Kekhrievor Kevichusa (IPOS) Commissioner and Secy, Industries and Commerce and Shri. Reny Wilfred (IAS) Joint Secretary, IDAN) A. Temjen Jamir Director, Industries and Commerce.
Investors and businesses that participated in the event sought information on the investable opportunities in Nagaland.
The agenda of the Roundtable was to provide investors with a birds-eye view of policies, opportunities in the state and ways to leverage from the abundant opportunities available in Nagaland and the northeastern region as a whole.
Rio took the attendees through the recent developments in Nagaland, and the various investment opportunities across sectors such as Agri and Food Processing, Tourism and Hospitality, Healthcare and more.
Addressing the inaugural session of the investor Roundtable, the Chief Minister of Nagaland Neiphiu Rio expressed his gratitude to the Ministry of DoNER, Government of India for their continued support. He added that the presence of the investors signifies our collective commitment and a shared vision for unlocking the vast trade and investment potential of Nagaland and the broader North Eastern region.
Further, he said that their present government remains steadfast in its dynamic outlook, continuously striving to create an investment-friendly ecosystem supported by robust policies and good governance.
Speaking on the ease of business policy he added through the dedicated Investment and Development Authority of Nagaland (IDAN), we foster an environment conducive to business growth, ensuring ease of doing business through streamlined processes and corporate-friendly policies.
Speaking about the advantage of the State TR Zeliang, Deputy Chief Minister said that Nagaland boasts a wealth of resources, from vast crude oil and mineral deposits to its diverse flora, fauna, and captivating topography, all offering tremendous potential for economic growth.
During his address at the Investor Roundtable, Lok Ranjan outlined the positive outlook for entrepreneurs in Nagaland. He said, “The Ministry of Development of Northeast India, in collaboration with the states and our esteemed partners, aims to optimize resources, not just financial but also expertise, entrepreneurship, and managerial abilities, to create a robust ecosystem for growth. This summit serves as a platform to synergize our strengths for collective benefit. Nagaland's strategic location, once seen as a limitation, has now transformed into an advantage, with improved connectivity and a trajectory of growth surpassing national benchmarks. The region's performance on various social and economic parameters is remarkable, presenting attractive opportunities for investors. As organisers of this summit, we are committed to facilitating the realization of these opportunities and inviting investors to seize the first-mover advantage in our journey towards sustainable growth. This event is part of a larger vision to drive progress and prosperity in the Northeast region.”
Talking about the strengths of the state, Abu Metha, Chairman, Investment and Development Authority of Nagaland (IDAN), took the attendees through the vibrant cultural heritage of Nagaland, its resources, and the agricultural strength of the State. He pointed to the renewed focus of the State on “energy, information technology, innovation-based entrepreneurship, startups, “and he welcomed investors for contributing to the social and economic development of the region.
A conducive climate enables farming of a wide variety of crops, including horticultural and floricultural products in the state. Nagaland is seventh-largest producer of Coffee and Rubber in the country. It is home to one of the spiciest chilies in the world- the Naga Chilli. It is the 3rd largest producer of Cardamom in India and 4th largest producer of Tapioca. Nagaland is one of the 25 hot spots of the world with respect to its biological diversity and is referred as a state with mega biodiversity. Home to 650 indigenous species of medicinal and aromatic plants, 46 species of bamboo, quality wild honey, and much more, Nagaland is drawing investor’s interest in Agri and allied sectors.
Nagaland, with its amalgamation of tribal art, traditions, culture, and cuisine, entices a significant influx of tourists annually. The state's vibrant side is unveiled through festivals like Hornbill, Mim-Kut, and more, showcasing its cultural richness. Renowned as the "land of festivals," Nagaland boasts of diverse tribes that have their unique festivals and cultural practices which are spread throughout the year.
The traditional Chakhesang Shawl which holds a special place not only serve as a remarkable souvenir for visiting tourists, but also exemplifies sustainability imbibed in Nagaland. These shawls are meticulously crafted from eco-friendly fabrics derived from plant fibres, embodying the essence of eco-consciousness.
Nagaland is also rich in crude oil, coal, limestone and other hydrocarbons. Notably, Nagaland has the 3rd highest reserve of cobalt in India and it holds 600 mn MT of crude oil reserve.
As part of an initiative to channelize start-ups and entrepreneurs, Nagaland has adopted a Chief Minister’s facilitation plan for promoting thousands of start-ups in five years. The Ministry of DoNER also has initiated plans with similar vision. Moreover, as part of the Prime Minister’s Development Initiative for North East Region (PM-DevINE) Scheme, Nagaland has been sanctioned an amount of Rs 180 crores for livelihood projects in 2022-23.
The North East region has witnessed a renewed interest from investors who attribute it to the rapid growth seen in recent years in infrastructure development. In Nagaland, improvements in connectivity via road, rail and air have facilitated logistics thereby attracting investors interest to the state. Notably, Kohima hosted the recently concluded two-day B20 Conference which culminated in an investment intent of Rs 4,510 crore. Industries such as bamboo-based ethanol production, refining projects, medical tourism, and agro-processing have seen an uptick among investors as well.
The Ministry of DoNER along with various state governments of the North East have organised a series of State Roundtables across North East, including Guwahati, Agartala, Shillong, Aizawl, and Gangtok. Recently a Roadshow was organised in Mumbai to gather interests from Investors outside the region. These events in the runup to the upcoming Northeast Global Investors Summit have been garnering participation from investors from a broad cross section of industries. Roadshows in Dhaka, Kolkata, and Hyderabad are also on the cards as well before the main Northeast Global Investors Summit takes place in New Delhi later this year.
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