Guwahati: Nirmala Sitharaman, Union Finance Minister, will be on a two-day tour to Nagaland on July 4 and 5 to attend the Nagaland Corporate Social Responsibility (CSR) and Investment Conclave 2022.
The Investment and Development Authority (IDAN), the state investment promotion agency, is organizing the CSR conclave (IPA).
The CSR conclave is Nagaland's first of its kind. Chief Minister Neiphui Rio announced that the state has already collected Rs 50 crore for CSR projects and that over Rs 100 crore in bank loans will be distributed to entrepreneurs. He stated that the state would soon open up new business opportunities.
According to reports, Nagaland has identified approximately 500 CSR projects that will be uploaded to the India Investment Grid via Invest India for investors.
Alemtemshi, CEO of IDAN, previously stated that the CSR conclave is one step toward the many positive changes that are coming to the state. He also stated that several companies have expressed an interest in investing in Nagaland and anticipate fruitful participation.
During the event, he said, there would be business-to-business and business-to-government interactions, as well as a bankers' conclave. He then sought cooperation and support from state government officials to ensure the program's success.
Nagaland is the first state in the North East to have a fully operational state investment promotion agency, which has been in operation since 2018. Apart from Nagaland, the Meghalaya state IPA will be operational in a few months, Assam has notified about the establishment of an IPA and has even allocated a budget for the current fiscal year, and Manipur is in discussions with Invest India to establish its state IPA.
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