Nagaland: B20 delegates show keen interest in state, bets big on renewable energy

National and international business delegates showed keen business interests in Nagaland during the B20 meet in Kohima.

Representatives from the business community of Nagaland as well as government departments had an active participation during the Business to Business (B2B) and Business to Government (B2G) negotiations coordinated by CII.

According to an official statement, the B2B/B2G witnessed the signing of an MoU between the Nagaland government and investors for investments in renewable energy to the tune of Rs 1000 crore over the next three years. The B2B/B2G session also witnessed a substantial business interest with a potential investment size of Rs 1500 crore in biofuels.

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

The state investment promotion agency, Investment and Development Authority of Nagaland, in coordination with the business fraternity and line departments, will follow up and provide end-to-end facilitation to the potential investors.

The state government said it will continue to make concerted efforts with the active support of the DoNER ministry, the Department for Promotion of Industry and internal trade (DPIIT) and Invest India, in tandem with industrial associations/relevant stakeholders, for ushering inappropriate policies to convert these expressed business interests into projects on the ground.

With the NE Global Investment Summit, organised by the 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.