IFCI move to boost Nagaland economy

GUWAHATI, April 4 ? AK Das, Head of North Eastern region and DGM of IFCI, stationed at North Eastern Head Quarter in Guwahati is visiting Kohima on April 4 and 5 to assess industrial and tourism potential in Nagaland State which is having huge natural resources and also for generating more employment opportunities. AK Das will also attend a seminar on ?Economic Development of Nagaland? on April 5 in Zonal Council Hall, Kohima which is organised by the Confederation of Indian Industry (CII) in association with the Government of Nagaland. Syamal Dutta, Governor of Nagaland and Arun Shourie, Union Minister will also attend the seminar stated a release. The IFCI, nodal agent for tourism sector for the North Eastern region has promoted Tourism Finance Corporation of India Ltd (IFCI). Now IFCI?s operations? thrust area is the tourism development in Nagaland State along with IFCI. IFCI, its subsidiary and associates would continue to play a major role in the development of Nagaland State and the socio-economic uplift of its people, the release stated. One positive factor for the region is that the rate of growth per capita income is higher than the all-India average growth rate, the organisation pointed out. Mentionably, IFCI Ltd, (formerly known as The Industrial Finance Corporation of India Limited) is the first development financial institution set up as a ?Statutory Corporation? in 1919 to encourage and assist industrial development in India to ensure greater flexibility to respond to the changing needs of the financial system. IFCI?s financing operations principally includes ? Project Financing, Financial services, Comprehensive corporate advisory services Merchant Banking Services an all Allied Services with total financial solution. In north eastern region IFCI has already financed Rs 350 crores towards 50 project cases. Out of this an amount of Rs 2.50 crore was invested in Nagaland state for 4 projects.