Will it change the game for aspiring entrepreneurs?
Mokokchung has become the first district in Nagaland to have an MSME Promotion Council of India (PCI) office and training centre, inaugurated at Arkong Ward on March 17. The initiative aims to promote entrepreneurship, financial literacy, and self-reliance in the district. Additional Deputy Commissioner (ADC) of Mokokchung, Chumlamo Humtsoe, attended the event as the special guest.
Bendangnukshi Jamir, Chairman of MSME PCI, Mokokchung District, described the inauguration as more than just opening an office—he called it “the beginning of a movement toward self-reliance, growth, and empowerment.”
Highlighting the unemployment crisis in Nagaland, he pointed out that over 71,322 educated youths remain jobless, while state government recruitment accommodates only 600-700 annually. He stressed that MSME initiatives could bridge this gap by nurturing entrepreneurship and small-scale industries.
As part of this effort, he announced the launch of the PM Vishwakarma initiative, aimed at supporting artisans and craftsmen. The scheme includes a seven-day skill enhancement training (with a stipend of Rs 500 per day per participant), a Rs 15,000 e-voucher for tools, and a Rs 3 lakh loan disbursed in two installments.
For Mokokchung, the focus areas will be carpentry and basket weaving. Registration opens on March 18, and interested individuals can enroll at the MSME PCI office.
Lanuakum Jamir, State Chairman of MSME PCI, Nagaland, acknowledged that the state has been “laid back” in embracing MSMEs and start-ups. However, he expressed confidence that this is just the beginning of a shift toward entrepreneurship.
“MSME is the backbone of the economy, contributing 30% to the national GDP, and this number is expected to grow. But in Nagaland, we have negligible manufacturing start-ups,” he noted. He hopes the MSME PCI will serve as a crucial bridge between local entrepreneurs and financial institutions.
Encouraging aspiring business owners to leverage the PCI’s resources, he stated, “MSME PCI is for the people. Anyone interested in business can seek guidance here—whether it’s about funding, proper documentation, or even selling products on platforms like Amazon and Flipkart.”
However, he acknowledged that accessing bank loans remains a challenge due to lack of financial literacy. To address this, he highlighted that MSME PCI has now partnered with SBI, enabling people to apply for loans online, making the process more accessible and streamlined.
Financial literacy: The missing piece
One of the key challenges identified at the event was the lack of financial literacy among small business owners.
Khupsuanlal Hanghal, Chief Manager of SBI Bazaar Branch, Mokokchung, observed that many entrepreneurs, particularly in Mokokchung, struggle to access banking facilities due to poor financial awareness. He noted that business owners often use ‘savings accounts’ instead of ‘current accounts’, making them ineligible for business loans. Improper documentation—such as not filing Income Tax Returns (ITR) or GST—creates further hurdles. He urged individuals to regularly file their taxes to improve their chances of securing loans.
“A good CIBIL (Credit Information Bureau (India) Limited) score ensures access to loans at lower interest rates,” he explained. He also cautioned that even EMIs (Equated Monthly Installments) on online shopping platforms like Amazon and Flipkart impact credit CIBIL scores, advising people to manage their financial commitments wisely.
Highlighting opportunities such as the Stand-Up India Scheme, the Chief Minister’s Microfinance Initiative, and Mudra loans, Hanghal encouraged people to focus on long-term business growth rather than just the subsidy benefits of these schemes. He also raised concerns over the growing trend of cybercrime in Mokokchung, particularly linked to online gaming and scams, stating that the town has become a hotspot for cyber fraud, with at least two to three cases reported daily.
A step towards entrepreneurial growth
ADC Chumlamo Humtsoe acknowledged the “lack of guidance” among many aspiring entrepreneurs and expressed optimism that the MSME office would be a game changer for Mokokchung. He noted that while business opportunities in Nagaland are abundant, many ventures fail due to a lack of mentorship and financial awareness. He encouraged knowledge-sharing and pledged the administration’s full support for the initiative.
With the launch of the MSME PCI office, Mokokchung takes a step toward nurturing a culture of entrepreneurship. However, the impact of this initiative will depend on how well aspiring business owners utilize the resources now available to them.
The MSME PCI office will also open in the districts of Kiphire, Shamator, Noklak, Tuensang, Niuland, and Chümoukedima as part of its first phase.