Nagaland receives Rs 4,510 cr business investment intent in B20 conference

Nagaland received business interests in various sectors worth Rs 4,510 crore from both national and International business delegates during the Business 20 conference, an official release said on Thursday.

Nagaland on Wednesday hosted the fourth and last B20 meeting as part of the G20 summit held in the North East Region (NER) including Manipur, Mizoram and Sikkim.

Altogether 60 delegates from 27 countries participated in the conference.

Representatives from business community of Nagaland as well as government departments also participated during the Business to Business (B2B) and Business to Government (B2G) negotiations coordinated by Confederation of Indian Industry under the Ministry of External Affairs, said the release issued by Nagaland Home Commissioner Abhijit Sinha.

The B2B/B2G witnessed signing of Memorandum of Understanding (MoU) between Government of Nagaland and investors for investments in renewable energy to the tune of Rs 1,000 crore over the next three years, he said.

The B2B/B2G session also witnessed a substantial business interest with a potential investment size of Rs 1,500 crore in biofuels, Sinha said.

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

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 will further be explored and firmed up in due course, he said.

Sinha asserted that the Investment & Development Authority of Nagaland (IDAN) in coordination with the business fraternity and line departments would follow up and provide end to end facilitation to the potential investors.

The state government will continue to make concerted efforts with active support of the Ministry of DoNER, DPIIT and Invest India, and in tandem with Industrial associations and relevant stakeholders for ushering appropriate policies to convert these expressed business interests into projects on the ground, he said.

The Home Commissioner said that with the NE Global Investment Summit, organised by DoNER Ministry and DPIIT fast approaching, the state has submitted its policy recommendations for the new North East Industrial Development Scheme (NEIDS), which would help facilitate in fast forwarding the process of grounding business propositions and effectively improving the business climate of the state.

Meanwhile, Advisor to Chief Minister and Chairman of IDAN, Abu Metha in a series of tweets on Thursday said Poonawala Group has signed a Letter of Intent for Establishment of a MRI facility and blood bank in collaboration with Eden Medical Centre worth Rs 10 crore.

He also announced an MoU signed with Thompson Computing & Semiconductors India Pvt Ltd for investments in renewable energy worth Rs 1,000 crore and Numaligarh Refineries gave a Letter of Intent for setting up ethanol production plant based on Bamboo in the state worth Rs 1,500 crore.