Nagaland receives investment proposals of Rs 4,510 cr in B20 meet

Nagaland received various investment proposals of Rs 4,510 in a range of sectors as the 3-day B2B and B2G meets under India's G20 presidency ended here on Thursday in the northeastern state.

Officials said that representatives from the business community of Nagaland as well as government departments also had active participation during the Business to Business (B2B) and Business to Government (B2G) negotiations coordinated by Confederation of Indian Industry (CII).

A senior official of Nagaland Industry Department said that the state received keen business interests from both national and international business delegates during the B20 meet in Kohima.

The B2B and B2G witnessed signing of a Memorandum of Understanding (MoU) between government of Nagaland and investors for investments of Rs 1,000 crore in renewable energy sector over the next 3 years, the official told the media.

The two business sessions also witnessed a substantial business interest with a potential investment size of Rs 1,500 crore in bio fuels.

The private sector also evinced keen business interest with an investment proposition of around Rs 10 crore in the health sector.

The official said that there are other business propositions to the tune of Rs 2,000 crore in agro and food processing, rubber, MSME, medical tourism, sports and IT sectors which would further be explored and firmed up in due course.

The State Investment Promotion Agency (SIPA), Investment and Development Authority of Nagaland (IDAN) in coordination with the business fraternity and line departments shall follow up and provide end to end facilitation to the potential investors, he said.

The Nagaland government would continue to make concerted efforts with active support of Ministry of DoNER (Development of North Eastern Region), Department for Promotion of Industry and Trade (DPIIT) of the Central government and in tandem with industry bodies and relevant stakeholders for ushering appropriate policies to convert these expressed investment and business interests into projects on the ground.

With the North East Global Investment Summit, to be organised by DoNER Ministry and DPIIT fast approaching, the state has submitted its policy recommendations for the new North East Industrial Development Scheme, which would help facilitate in fast forwarding the process of grounding business propositions and effectively improving the business climate of Nagaland, the official added.

The CII in collaboration with the state government, Ministry of External Affairs, and the DPIIT were partners in this 3-day B20 Conference under India's G20 Presidency in Kohima.

--IANS

sc/pgh