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Nagaland a land of opportunities for investors: IDAN

Nagaland News

KOHIMA, JULY 17: While Nagaland, despite being the 16th State of the country and the second in North East after Assam, continues to be a resource crunch State, the Investment and Development Authority of Nagaland (IDAN) has brought out investment opportunities in the State.
IDAN’s compendium titled ‘Nagaland opportunities abound’ released by Chief Minister Neiphiu Rio on July 4 during the precursor conclave on Nagaland CSR (corporate social responsibility) & Investment Conclave 2022 has highlighted the investment opportunities, start-ups and CSR landscape in the State.
In his message, IDAN’s Chief Executive Officer (CEO) Alemtemshi Jamir said Nagaland the Land of Festivals’ is a syncretic mix of pristine scenery, traditions, and flora and fauna.
The plethora of natural resources and talented human resources make it a land of opportunities, he said, adding that a vibrant entrepreneurship culture combined with the State Government’s focus on promoting business, investments and start-ups seek to propel the State to greater heights.
Today in these times when businesses transcend boundaries, B2B (Business to Business) and B2G (Business to Government) collaborations are becoming the order of the day, CSR enables businesses to fulfill their social responsibilities and contribute their bit towards plugging the developmental gaps in our country, he said.
In this, he said their (corporates) role and potential in remote development-deficit States like Nagaland assumes great importance more so ever.
He expressed that there is no dearth of investible sectors in Nagaland, be it agro-processing, horticulture, tourism, higher education, healthcare, mining or biotechnology.
In this, he asserted the State Government is making all possible efforts to collaborate with private sector and other stakeholders and help develop a better understanding of the State and its attributes.
Attracting investment in industrial sector, the compendium highlighted that the State Industrial Policy (Revised 2004), gives manpower subsidy of 25% of the actual wage bill, up to 3 years; power subsidy at 30% and 25% for connected loads up to 1 MW and above 1MW respectively for 5 years and special incentives for 100% export oriented unit.
Nagaland, as an investment destination, is richly endowed with resources like limestone, and magnetite while it has a high literacy rate of 80.11%, contributing to a skilled workforce.
Nagaland has immense potential for agro and horticultural produce including fiber, tea, coffee, pineapple, kiwi, orange, etc, while being world famous for producing the GI tagged Naga King Chilli and Naga cucumber, it said.
On Agro-based industries and food process, it said the varied agro climatic zones of the State provides conditions that are well suited for cultivation of fruits, vegetables, spices, plantation crops, flowers, medicine and aromatic and other horticulture crops.
Agriculture and horticulture are important sources of the State’s economy and a source of livelihood for a sustainable portion of the population, it said, adding that the net State Value Added by the sectors during 2020-21 was Rs 2,151 crore.
The State requires assistance in development of supply chain infrastructure, processing of fruits, vegetables and spice and packaging, branding and marketing of horticulture produces/products, it said.
It said that the Department of Tourism is focusing on increasing tourism in the State by the promotion of culture-based tourism (Hornbill festivals/tribal festival) and village home-stays, promotion of ecotourism and adventure tourism.
Under investment opportunities, the key projects include Establishing Dry Port (Rs 56 cr), Upgradation of Tourist Lodge in Kohima (Rs 10 cr), Mini Cement Plant (project cost depending on the scale) and Scaling up of Bamboo Resource Centre (Rs 6.1 cr).
In the energy sector, IDAN said the present power demand for the State is 180MW which is expected to touch 400MW by 2030 at a 10% Compound Annual Growth Rate (CAGR) and an additional 400MW will be required for industrial activity.
Currently, the State has 27MW generation capacity with no solar power capacity which is a key for sustainable development, it said adding that the State is undertaking the development of 2.4MW Duilumroi Hydro Project funded by NEC and 1MW Ponglefo Hydro Projects.
Additionally, NEC is also funding a 100MVA, 220/132/33 kV substation at Zhadima. The State has another 252MW Hydro capacity in the pipeline with 42MW Lower Tizu, 24MW Zungki and 186MW Dikhu hydro projects.
The state also plans to revamp its transmission and distribution infrastructure, it said, adding that the State intends to reduce Aggregate Technical and Commercial (AT&C) losses to the national average, meet its anticipated 800MW demand and upgrade existing infrastructure to cater to present and future requirements.
The State is also committed to meet its 50% energy requirements through Renewable sources in line with 26th UN Climate Change Conference of the Parties (COP26) commitments, the compendium maintained.
It also highlighted 21 priority projects in the State, while some of the major ones are Air Strips in Nagaland (Rs 110 cr), Helicopter Training Academy (Rs 45 cr), Manufacturing of Electronic Printed Circuit Boards (Rs 30 cr), Ropeway at Jotsoma Community Conserved Forest (Rs 50 cr), Integrated Processing Pineapple Unit and Pack-house (Rs 19.7 cr), Engineering Composite materials from waste Banana Pseudostem (Rs 20 cr0, Eco-resort (Rs 12.8 cr), etc.
Giving an overview of the start-up ecosystem in Nagaland, IDAN highlighted it provided requirements to seed fund for at least 19 prospective start-ups in the sectors of tourism, handicraft & handloom, education, health, fashion, IT services, Energy, food, event management, agriculture, automotive, etc.
The IDAN compendium also brought about 35 CSR priority projects, which include establishment of solar cold storage units at agriculture marketing networking points worth Rs 4.44 cr, Establishment of Multipurpose Sports complex in Kiphire, Kiusam, Pughoboto, Noksen, Noklak, Longleng and Tseminyu worth Rs 14 crore, Facility for Training of Children with special needs (Rs 10 cr), Infrastructural Development Support to Government Colleges (Rs 30 cr), Rural Animal Feed Manufacturing unit (Rs 5 cr), Establishment of multi-skill training centre (Rs 24 cr), Automobile and other cutting-edge job oriented training centre (Rs 16 cr), etc.
(Page News Service)