Nirmala Sitharaman launches 52 projects sponsored by firms as CSR in Nagaland

Finance Minister NIrmala Sitharaman | Illustration: Moneycontrol

Union Finance Minister Nirmala Sitharaman on Monday inaugurated 52 projects to be sponsored by various companies in Nagaland as part of their Corporate Social Responsibility (CSR).

Sitharaman launched the projects during the inaugural ceremony of the three-day CSR and Investment Conclave here, in which more than 100 corporate delegates and investors took part.

Most of the projects are related to health, education and skill and entrepreneurship development. Lamenting that Nagaland has not been getting enough CSR investment, she said the North-eastern state should be the natural choice of companies and investors.

There are problems in people's expectations about CSR, because of which states like Nagaland have to wait for CSR to come, the Union minister said. However, she expressed confidence that the coming of companies for the conclave will be the stepping stone and many more will come and start investing in the state.

Sitharaman said the Confederation of Indian Industry (CII) has announced that it will set up a training centre for the Naga youth to enhance their skill. She also suggested that the state government should take the advantage of NITI Aayog's Atal Innovation Mission Projects to set up science labs in schools and innovation hubs in higher classes to promote Science & Technology education.

The minister encouraged the state to focus on organic products. Nagas should have proper branding of their products, Sitharaman said and asked the state government to form a Task Group of Naga Youths to build the brand of Nagaland across the country.

She also inaugurated exhibition stalls put up by various districts, departments, civil society organisations and NGOs to attract CSR investments. Chief Minister Neiphiu Rio expressed gratitude to the Government of India for its focus on the development of the North East.

Nagaland has not been on the radar of the corporate as the amount of CSR spent has been very low, he said, adding that the state has lots of potential for investment. The conclave, he said, will provide a platform for the companies to harness various opportunities that the state offers.

The conclave being held on the theme, Partnership for strengthening sustainable development Naturally Nagaland, has been organised by the Investment and Development Authority of Nagaland and supported by the Union government's Department of Financial Services, Department of Public Enterprises and Ministry of Corporate Affairs.