Rhaeven Capital CEO Khrietuo Yhome urges Nagas to embrace entrepreneurship.
KOHIMA — With Nagaland's economy remaining heavily dependent on central government funding, Rhaeven Capital CEO Khrietuo Yhome on Monday called on Nagas to become employers and producers rather than employees and consumers to build a sustainable economy.
Speaking at the Exclusive MSME Outreach Programme held at Hotel Vivor, Kohima, Yhome said Nagaland generates very little revenue of its own and continues to rely heavily on central funds.
The programme, themed "Empowering enterprises. Enabling growth. Building Nagaland," was organised by Rhaeven Capital in collaboration with Canara Bank and the Kohima Chamber of Commerce and Industry (KCCI).
Expressing concern over the state's economic structure, Yhome said the economy is largely driven by government salaries rather than productive economic activities.
He noted that such a model has contributed to unemployment, corruption, nepotism and a culture of dependence.
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"Such an economy is neither sustainable nor desirable in the long run," he said.
Highlighting entrepreneurship as the solution, he said it is not merely about starting a business but about solving problems, generating wealth and creating employment opportunities.
"It is time we look beyond the security of government jobs and embrace the opportunities that entrepreneurship offers," he said.
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"If we genuinely aspire to build a resilient, self-reliant and prosperous Nagaland, entrepreneurship is not just an option but the way forward," he said, calling for a shift from a culture of dependence to one of enterprise.
Also speaking at the programme, Santanu Saha, Assistant General Manager, Circle Office, Guwahati, Canara Bank, observed that while there are many job seekers, there are comparatively few job creators.
He assured aspiring entrepreneurs of the bank's continued support.
Saha informed that Canara Bank currently has 10 branches in Nagaland and highlighted various MSME schemes and financial facilities available to entrepreneurs.
Representatives from the Department of Industries and Commerce, Investment and Development Authority of Nagaland (IDAN), Kohima Municipal Council (KMC), KCCI, Labour department, Taxes department, Employees' Provident Fund Organisation (EPFO), Ministry of Labour and Employment, National Skill Development Corporation (NSDC), Ministry of Skill Development and Entrepreneurship, Government of India, and chartered accountant Saurav Agarwal also delivered presentations on government schemes, regulatory compliance and business support services for MSMEs.