The initiative aimed at narrowing the socio-economic gap between the corporate sector and Northeast India was inaugurated by Sukanta Majumdar, Minister of State for the Ministry of Development of North Eastern Region. This collaboration seeks to implement significant projects in partnership with the Government.
During his address, Majumdar emphasized the positive impact of the Rs 10,000 crore UNNATI Scheme, which is set to attract substantial investments to the Northeast region. He noted that central ministries are dedicating 10 percent of their gross budgetary support to the Northeast, not just through existing programs but also via specific initiatives tailored for the area, highlighting the government’s focus on regional development.
Majumdar also pointed out the increased bilateral cooperation between India and Bangladesh, which has created numerous business opportunities for industries using the Chittagong port. This trade corridor is crucial as it serves as a gateway to Southeast Asia.
Chanchal Kumar, Secretary of the Ministry for Development of North Eastern Region, stressed the necessity of mobilizing additional resources and private funding to accelerate the region’s development. He noted that the current levels of Corporate Social Responsibility (CSR) contributions in the Northeast are insufficient and called for policy-level interventions. Kumar suggested that state governments compile lists of investable projects to attract CSR investments effectively.
R Mukundan, Vice President of CII and Managing Director of Tata Chemicals Limited, in his welcome address, noted that over the past decade, CSR activities have evolved from mere compliance to greater transparency and impact orientation.
The event saw participation from North East state governments, central ministries, over 100 NGOs, and 80 corporates, fostering cooperation and partnerships. A compendium was released during the inaugural session, and an exhibition showcased various social development projects.
According to Section 135 of the Companies Act 2013, companies of specific turnover and profitability must spend 2 percent of their average net profit from the past three years on CSR activities.
This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content.
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