Tuesday, July 23, 2024
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2 business sessions held at NIIE Trade Fair

Nagaland News

DIMAPUR, NOVEWMBER 5: Aditi Bhutia Madan, co-founder of BluePine Foods, who was recently seen on the first season of Shark Tank India, on Saturday suggested to entrepreneurs from Nagaland not to engage in creating multiple products but instead focus on one, and to make sure to involve technology, innovate on the basic products as differentiator to become successful in their entrepreneurial journey.
Speaking on the 4th session as one of the panelists on the last day of the National Innovate, Integrate, and Expand (NIIE) Trade fair 2022, here at Administrative Block of NER Agri Expo, Dimapur, Madan, sharing her journey and mantras to create a thriving start-up stated that building the right company with the right products, compliances and documentations are of great significance and these indeed prompted her to make BluePine Foods a private limited company. She added that while GST and other related things might look painful, they also validate the process.
Y Kikheto Sema, APC, Nagaland in his remark talked about the potential of the Nagaland agri sector and called women the engine of the rural economy, who comprises 75% of the workforce engaged in agriculture.
He asked women entrepreneurs to focus on sectors like meat and meat products, fruits and education which cost the State thousands of crores every year. He also asked the attendants to make the farming community know that KCC loans can now be availed by farmers in Nagaland 100% interest free.
Commissioner & Secretary, Industries & Commerce, Kekhrievor Kevichusa on the occasion made the attendants aware of different schemes and expressed that while there are so many people with ideas trying to set up their business, the general feeling that continues to be is that rich are getting richer while the poor poorer.
Founder Director, Northeast India-ASEAN Chamber of Commerce Shah Md. Farid, who was also one of the panelists, stressed on the importance of proper packaging and creating clean final products to make them marketable in the markets abroad.
The session was moderated by Nukuzo Phesao, founder of WareHouse 103.
Meanwhile, the 3rd session held in the morning, on Business Financing, deliberated on financial schemes/initiatives available for entrepreneurs, how financing can be made easier for entrepreneurs, and current problems and possible solutions.
The session highlighted Business Financing of Nagaland with its numerous potentials, young population, and high literacy rate that have vast scope for SMEs to establish and grow. One of the crucial inputs for businesses to grow and prosper is the timely availability of finance at reasonable terms.
Post-cOVID, PM Modi’s “Vocal for Local” initiative and banks and financial institutions’ schemes have been the source to help build small businesses. The proficient and compelling arrangements by the financial players keeping in mind local factors are crucial to foster economic development.
This programme started with welcome remarks by Sashi Pongener, former DGM State Bank of India and Chairman, Nagaland Rural Bank CEO, of BAN Thrift and Credit Cooperative Society Ltd., who said that BAN is actively engaged and committed to encouraging and supporting Naga entrepreneurs, especially young entrepreneurs.
He also noted that one of the first joint stock companies to be set up in British India was in the North Eastern State of Assam with its Headquarter based in London. Subsequently to make the business run Railroads were laid and steamer services were started as a private initiative. Dense jungles were cleaned and Tea gardens were set up. Elephants were used for clearing the jungles and for sowing tea plant seeds. There were no metalled roads, bullock carts were used for transporting the machinery and tea from the garden to the river banks. Large boats moved tea to Calcutta and thereafter by ship to London.
He said both bankers and entrepreneurs need each other for their businesses to grow. There was no District Industries Centre, no email, no WhatsApp or STD phone facilities but the industry grew, expanded and gave employment opportunities to many, he said adding their success can only be attributed to their sheer determination, perseverance, proper planning and disciplined approach.
Today we have so many opportunities, options and possibilities at our disposal, he added.
Panellists were Samir Kumar Jha, DGM SME Business Unit, SBI, LHO, Guwahati, VV Narayana, Chairman, Nagaland Rural Bank, Taliremba, Commissioner & Secretary, Law & Justice & Finance, GoN, Tiakala Ao, General Manager, NABARD, K Jianthailung, Branch Manager, NEDFi, Assi Gogoi, Branch Manager, ICICI Bank.
The Moderator was L Mongkum Jamir President, Business Association of Nagas (BAN) & Managing Director, Symbios Creations Pvt. Ltd.
(Page News Service)