Nagaland CM Highlights MSME Growth with Over 48,600 Udyam Registrations
In a significant development for Nagaland's economic landscape, Chief Minister Neiphiu Rio revealed on Tuesday that the state has achieved a milestone with 48,655 enterprises registered on the Udyam portal as of March 9. This announcement was made during a detailed discussion on the critical role of Micro, Small, and Medium Enterprises (MSMEs) in bolstering Nagaland's economy, held on the fourth day of the 8th session of the 14th Nagaland Legislative Assembly in Kohima.
Breakdown of Enterprise Registrations
Delving into the specifics, CM Rio provided a comprehensive breakdown of the registered enterprises. The vast majority, 48,464 enterprises, are classified as micro enterprises. Within this category, most fall under the nano enterprise segment, characterized by an annual turnover below Rs 25 lakh. Additionally, the state has 175 small enterprises and 16 medium enterprises registered, indicating a diverse but micro-dominated MSME ecosystem.
Government Initiatives Driving MSME Expansion
Rio emphasized the steady expansion of the MSME sector in Nagaland, attributing much of this growth to targeted government initiatives. A key highlight is the Chief Minister's Micro Finance Initiative (CMMFI), under which 777 MSME units have been established since its inception. This program has successfully generated investments exceeding Rs 65 crore through a combination of government subsidy support and enhanced credit linkages.
These enterprises are primarily concentrated in sectors such as transport services, retail trade, hospitality, and small-scale manufacturing. The CM projected that these ventures are expected to create more than 1,500 direct employment opportunities across the state, significantly contributing to local job creation and economic resilience.
Ongoing and Proposed Development Projects
Looking ahead, Rio outlined the state's proactive approach to further MSME development. Currently, 13 MSME development projects are under active implementation. Moreover, the state government has submitted 15 additional projects to the Union Ministry of MSME for approval, aiming to secure further support and resources to nurture entrepreneurial growth.
This strategic focus on MSMEs underscores Nagaland's commitment to fostering a robust economic environment, leveraging digital platforms like the Udyam portal to streamline registrations and enhance accessibility for small businesses.
