Industry

Finance Minister Nirmala Sitharaman to inaugurate CSR & Investment conclave in Kohima on August 22

Union Finance Minister Nirmala Sitharaman. File

Union Finance Minister Nirmala Sitharaman. File | Photo Credit: PTI

Union Finance and Corporate Affairs Minister Nirmala Sitharaman will inaugurate the Nagaland-government-organised first Corporate Social Responsibility (CSR) and Investment conclave in Kohima on August 22.

The Union Finance Minister will also participate in the Investor and Bankers meet with a specific focus on Nagaland, said Investment and Development Authority of Nagaland (IDAN) Chief Executive Officer Alemtemshi Jamir at a press conference in Kohima on August 18.

“Ms. Sitharaman will be in Nagaland from August 22 to 24,” he said. “The conclave, which was earlier scheduled to be held on July 4 and 5 was postponed due to the inability of the Union Minister to attend the same,” he said.

However, with corporates, investors and bankers reaching the State, the State government only held a precursor and deferred the conclave.

“Ms. Sitharaman has confirmed her schedule and will be staying in Kohima throughout the conclave and try to push implementation of various CSR projects and bring in investors as the Corporate Affairs Minister,” he said.

He said that more than 100 corporates and investors from various parts of the country have confirmed their participation and are expected to extend CSR funding up to ₹160 crore. Mr. Jamir also clarified that the IDAN is acting only as facilitator and not implementer of any project.

He said that conclave is open to all the Civil Society Organisations (CSOs) and Non-governmental organisations (NGOs) of the State which have fulfilled the requirements of being registered under corporate law and has been functioning for 2-3 years implementing CSR projects. He said that IDAN has opened the door and the conclave will not be an end for future CSR projects but it is only a beginning.

“IDAN has also set up a centre for financial outreach at its office to help the CSOs and NGOs in the State prepare their projects and approach the corporates for funding,” he said.

Joint Secretary IDAN Renny Wilfred informed that applications were received for around 400 projects from both CSR registered and non-registered bodies from across the State.

He said that IDAN plans to hold campaign to create awareness among the CSOs on approaching the corporates and investors to avail CSR funding and investment from industries as Nagaland currently has only around 25 organisations fulfilling the CSR requirement.

The Union Minister is likely to announce various projects from corporates and industries during the conclave.


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Printable version | Sep 16, 2022 7:33:15 am | https://www.thehindu.com/business/Industry/finance-minister-nirmala-sitharaman-to-inaugurate-csr-investment-conclave-in-kohima-on-august-22/article65783476.ece