According to the Department for Promotion of Industry and Internal Trade (DPIIT), between October 2019 and June 2023, FDI (Foreign Direct Investment) inflows to Nagaland amounted to US$ 0.014 million. It may be noted that in March 2022, NagaEd, a leading digital education company, acquired FDI from Australia and Singapore, thus becoming the first company to bring in FDI into Nagaland.
September 2022 witnessed a significant stride in Nagaland’s startup ecosystem, as the North Eastern Development Finance Corporation Ltd (NEDFi) extended its support to six startups from the state. These startups were welcomed at NEDFi’s Guwahati headquarters to present their business plans and seek financial backing, indicating a growing entrepreneurial spirit in the region.
Turning attention to environmental conservation and sustainable development, the Japan Cooperation Agency (JICA) announced its commitment to invest in the Nagaland Forest Management Project (NFMP). Approved by the Nagaland Government at a cost of Rs. 533 crore (US$ 82.33 million), this initiative aims to cover 185 villages across 22 selected forest ranges in 11 Forest Divisions, encompassing all districts of the state.
In April 2023, Nagaland emerged as a beacon for business opportunities during the Business 20 conference, attracting investment intentions worth Rs. 4,510 crore (US$ 545.9 million) from both domestic and international delegates. Notably, the services sector witnessed a significant surge in investment interest, signaling confidence in Nagaland’s economic potential.
Furthermore, according to the Directorate General of Commercial Intelligence and Statistics, Nagaland’s total exports in FY23 reached US$ 1.35 million. Key export items included miscellaneous engineering products, plywood and allied products, handloom products, and tobacco-manufactured goods, underscoring the state’s diverse export portfolio.
In July 2021 Nagaland’s first agriculture crop to have a GI (Geographical Indicator) registration, Naga King Chilli (also known as Raja Mircha) was exported to international markets. (With inputs from IBEF)
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