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    ICC-North East Initiative and NEDFi sign MoU to promote investment in the North East

    Synopsis

    The MOU was officially signed by Sarat Kumar Jain, Chairman, ICC Assam State Council and S.K. Baruah, Executive Director, North Eastern Development Finance Corporation Ltd (NEDFi) in presence of PVSLN Murty, CMD, NEDFI.

    Memorandum of Understanding (MoU)Agencies
    Indian Chamber of Commerce (ICC) - North East Initiative and North Eastern Development Finance Corporation Ltd (NEDFi) executed a Memorandum of Understanding (MOU) with the objective of jointly working to promote Investment in Assam and North East States of India and contribute towards the various initiatives aimed at reforms, policy advocacy, ease of doing business, market linkages and promotion of sustainable business practices etc. in Assam and the North-East India and linking the region with the wider cotemporary economic perspective of India.

    The MOU was officially signed by Sarat Kumar Jain, Chairman, ICC Assam State Council and S.K. Baruah, Executive Director, North Eastern Development Finance Corporation Ltd (NEDFi) in presence of PVSLN Murty, CMD, NEDFI.

    Jain remarked that the signing of this MOU would certainly provide a platform for the entrepreneurs of NER to avail the pragmatic schemes and initiatives of NEDFI and Indian Chamber of Commerce. He emphasised that the MoU aims at reaching a mutual understanding and promoting collaboration on catalyzing economic development of the North Eastern Region of India, promoting entrepreneurship through effective mentoring, skill development and capacity building of the micro, small and medium enterprises.

    Murty said that the MOU between the two institutions would certainly catalyze economic development of the North Eastern Region of India by identifying commercially viable industries, providing valued advisory & consultancy services, promoting entrepreneurship through effective mentoring and inculcating capacity building of the micro, small and medium enterprises generating sustainable livelihoods.

    Murthy also stated that the Memorandum of Understanding was executed with the objective of jointly working to promote Investment in Assam and North East States of India and contribute towards linking the region with the wider cotemporary economic perspective of India and the world.

    Baruah informed that the MOU would also initiate activities related to Skill development of First time entrepreneurs and prospective entrepreneurs from remote corners of Assam towards realising a sustainable entrepreneurship journey. ICC-NE and NEDFI would act as a hand-holding agency for such entities.

    The MoU aims at reaching a mutual understanding and promoting collaboration on catalyzing economic development of the North Eastern Region of India, promoting entrepreneurship through effective mentoring, skill development and capacity building of the micro, small and medium enterprises. The respective organisations agreed to promote the following collaboration and sharing of activities based on their respective professional activities and vocational needs to enhance the Trade and Industry regime of the North-Eastern region.

    As per the MOU, ICC-NE and NEDFi would associatively conduct Awareness and development activities to enhance the Entrepreneurship development in academic and technology based sectors of the North-Eastern region. ICC-NE and NEDFi would also collaboratively organize platforms for buyers and sellers in India / potential business partners. A Trade Facilitation Desk to facilitate trade & business would be established at the premises of ICC-NE in association with NEDFi to facilitate Trade and Commerce between North-East India and the rest of India and the world, as well. The Desk would cater to enquiries and would act as the single window for business matchmaking. ICC-NE and NEDFi would undertake necessary Baseline surveys and Secondary Research Reports on the various profiles of the region.

    ICC-NE and NEDFi would also be providing Information related to Government Notifications and Guidelines, Tax laws and duties to members and non-members of ICC to facilitate an information hub for the MSMEs of the North-Eastern region. ICC-NE and NEDFi would jointly organize Awareness events/Workshops/Conclaves to create awareness among MSMEs regarding the various schemes of NEDFi and provide an insight towards realization of the business ventures of MSMEs of the region.

    Capacity building of Faculty and facilitation of Knowledge and Resource exchange in the area of Skill Development and Entrepreneurship development would also be conducted by ICC-NE and NEDFi.

    A delegation of Indian Chamber of Commerce (ICC) North-East Initiative, met with Bimal Borah, Minister, Industries, Commerce Assam to discuss about various initiatives planned by ICC-NE in the forthcoming days for the upliftment of trade, Commerce and Industry sector of Assam.

    The delegation submitted an action plan and recommendation for the next one year and the next five years in the Industry and Commerce sector of Assam highlighting the issues and recommendations from Indian Chamber of Commerce.

    Jain also suggested establishing and strengthening infrastructure for Livelihood Business Incubator (LBI) in every district of Assam to promote self-employment and give opportunity to get trained for wage employment. He informed that ICC would like to work towards Supporting infrastructure for implementation of cluster development approach, and providing guidance and assistance to the clusters by way of training, handholding, implementing, monitoring, mapping, and research and information dissemination.


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