Kohima, Mar 11: Nagaland Chief Minister Neiphiu Rio underlined the significance of Micro, Small, and Medium Enterprises (MSMEs) in boosting employment and economic activity during a discussion in the ongoing Budget session.
Rio stated that as of March 9, 48,655 enterprises are registered on the Udyam portal, including 48,464 micro units, 175 small units, and 16 medium units. Many micro units are nano enterprises with an annual turnover under ₹25 lakh.
The Chief Minister highlighted government support through the Chief Minister’s Micro Finance Initiative (CMMFI), which has invested ₹65.31 crore and provided ₹19.37 crore in subsidies to 777 MSME units, expected to generate over 1,500 jobs in transport, retail, hospitality, and manufacturing. Rio noted that this program leverages public funds with a 3.3x fiscal multiplier, promoting youth entrepreneurship and rural economic activity.
He also detailed 13 ongoing MSME projects and 15 awaiting central approval, alongside progress under PMEGP, which has sanctioned 66 out of 454 targeted projects with ₹21.78 crore assistance. Over the past five years, 3,715 beneficiaries have received support. Other initiatives include RAMP for enterprise competitiveness, PM Vishwakarma, with over 25,000 artisan applications, and cluster development in food processing, handlooms, handicrafts, and agro-industries, including a planned yarn bank for weavers.
Rio announced plans to increase legislators’ Local Area Development Funds for youth skill training programs.
During the session, NPF MLA Hekani Jakhalu described MSMEs as the “silent growth engine,” noting that Udyam registrations rose from 27,000 in mid-2024 to 48,655 after RAMP. Nagaland’s 267 startups generated ₹72 crore and 1,500 jobs in 2024-25, although challenges remain, including access to finance, power shortages, poor roads, and multiple taxes.
Advisor Z Nyusietho Nyuthe pointed out the state’s unemployment rate of 16.07%, higher than the national average of 5%. JD(U) MLA Jwenga Seb and other legislators emphasized MSMEs’ role in achieving self-reliance and rural development, while Assembly Speaker Sharingain Longkumer noted an average of 800 enterprises per constituency and called for further analysis of their economic impact.
