Advisor for Industries and Commerce, Hekani Jakhalu, highlighted the encouraging growth of industrial development in Nagaland during a recent MSME Promotion Council of India Orientation & Interaction Programme. Speaking at the Oriental Hotel in Kohima, Jakhalu emphasized that despite being in its early stages, Nagaland’s industrial sector has shown significant progress.
The sectoral growth rate of the secondary sector in Nagaland has surged from 2.83 percent in 2012-13 to 12.8 percent in 2022-23. This remarkable increase underscores the state’s potential for further development, although Jakhalu acknowledged that this journey has not been without its challenges.
The Raising and Accelerating MSME Performance (RAMP) program was also discussed by Jakhalu as a significant opportunity for MSMEs and aspiring entrepreneurs. The program aims to formalize MSMEs in the state, enhance the capacity of 18,000 MSMEs, promote ‘Make in Nagaland Products,’ facilitate interactions between entrepreneurs and technical experts, enhance competitiveness through green initiatives, facilitate credit linkage and interest subvention support, and provide access to market through various programs and workshops.
By embracing the RAMP program and these objectives, Nagaland can catalyze transformation that will benefit not just individual businesses but the entire population of the state.
MSME PCI Initiatives for Nagaland
Addressing the gathering as Special Guest, Pradeep Mishra Sarkar, National Chairman MSME PCI, announced two significant initiatives for Nagaland’s development: the Retail Trading Guarantee Scheme (RTGS) and the Kisan Trading Guarantee Scheme (KTGS). These programs are designed to provide financial assistance to disadvantaged traders and farmers who have struggled to double their income.
The various schemes of the state and central government already implemented in Nagaland will be further promoted by MSME PCI in collaboration with state and central governments. The goal is to create more awareness programs about these schemes and reach out to every section of people to create employment opportunities.
To develop the business of local traders and increase their income, the Retail Trading Guarantee Scheme was initiated. The Central and State governments have tied up with the banking sector to generate employment opportunities for locals.
MSME PCI assures that by December next year, it will create employment opportunities for 10,000 people from Nagaland as part of its 100-day program. Additionally, approximately 25,000 people across Nagaland are expected to be employed within the next year through this initiative.
Banking Sector’s Role in Nagaland’s Development
To take government schemes to the grassroots level effectively, banking sector plays a crucial role as a backbone or bridge. Nagaland is fortunate to have a chairperson from the banking sector who will give special attention to making Nagaland a developed state.
