FM holds closed-door interactive session with business community

August 25, 2022 31 Views No Comment

Morung Express News
Chümoukedima | August 25

The business community and women entrepreneurs of Nagaland, on August 24, held a closed-door interactive session with Union Minister of Finance & Corporate Affairs, Nirmala Sitharaman, on the sideline of her three-day visit to Nagaland.

While the media were not allowed, an attendee informed that the meeting was positive and cordial, where many issues concerning the community were discussed and highlighted to the Minister.

The Confederation of Nagaland Chamber of Commerce and Industry (CNCCI) also raised 5-points at the meeting including issues around the implementation of Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest (Sarfaesi) Act.

The State government has done its part. Now it is the turn of banks to do its part, the Confederation reportedly pointed out.
On Micro, Small & Medium Enterprises issues, it noted that banks are not meeting the target.

The CNCCI also raised the problem of erratic electricity and called for ensuring stable and reliable supply.

It also pointed out the need for introducing state-financed modern warehousing as well as expediting Naga political settlement to enable convenient environment for business.

It was a positive and fruitful interaction, CNCCI President Dr Khekugha Muru told The Morung Express.

Both the Union Finance Minister and State Chief Minister responded positively to our concerns and hopefully there will be some improvement and the meeting was satisfactory, he said.

The CNCCI also proposed to submit an appraisal of the ground reality of the business environment in Nagaland, which was received positively by the Union Minister, he added.

Meanwhile, the State DIPR reported that Sitharaman told the attendees that instructions have been given to the banks to go over to each district and continue to converge with the existing government schemes and other credit premises of the business sector that will be available.

She appealed to the business community to approach the banks when they come to the districts ‘with a proposal of thoughts and with an idea of a business proposition,’ as it is going to uphold and strengthen their business, it said.

The Union Finance Minister also noted that the business sector is progressing at every stage, and called for making local products that will be viable and accessible outside the local area.

She also reiterated for the need to give a push for every district to identify one district and one product that they produce, and said all kinds of assistance and facilities will be given by the government in terms of value chain or producing the local chain.

According to the DIPR, she further appealed to the business community to be specific in their details of the proposal as the policy is not going to work or come to the ground until and unless it’s specific.

Sitharaman assured that the proposal and grievances of each association have been noted and would be looked into for approval for assistance, it added.

Source: https://morungexpress.com/fm-holds-closed-door-interactive-session-with-business-community