DIMAPUR — Nagaland Chief Minister Neiphiu Rio revealed on Saturday that during the fiscal year 2023-2024, the state Goods and Services Tax (GST) collection was INR 1064 crore, and about 10,850 people were registered to pay GST.
He made this statement while inaugurating the state’s first Shoppers Stop store at Khermahal in Dimapur on Saturday.
He said that although Nagaland is not a manufacturing state, the arrival of retail stores has attracted numerous brands to Dimapur, Chümoukedima, and Kohima, drawing in companies as well.
Rio pointed out that the state has limited revenue, generating only about INR 100 crore per year, due to its status as a consumer state. However, GST has significantly changed the situation.
“With the coming of Shoppers Stop, I hope the GST revenue earning will double up”, he said.
As the largest retail store, Shoppers Stop will attract other companies and brand to come forward because competition is a driving force in business, he added.
Furthermore, the chief minister urged the citizens to support and protect businesses, calling on them to adapt to living in a commercial city and create the kind of atmosphere that would attract more businesses to come. This, he said, is how any society grows.
Commenting on the new store, Managing Director and Chief Executive Officer of Shoppers Stop, Kavindra Mishra said that the Northeast region is a significant market for the company.
“This store marks an important milestone in our expansion strategy and demonstrates our commitment to providing exceptional shopping experiences across India,” he said.
Additionally, by hiring local workforce, the company aims to support the local economy and create valuable employment opportunities, he said.