About NIDC Nagaland (Nagaland Industrial Development Corporation)
NIDC Nagaland (Nagaland Industrial Development Corporation) was incorporated under the Companies Act, 1956 on March 26, 1970 with the objective to promote, develop, establish and assist industries in the State. NIDC had set up a Sugar Mill Project and its ancillary Distillery Project at Dimapur, in 1973-74 and 1974-75 respectively. NIDC manages and maintains two Industrial Estates at Dimapur, which were taken over from the State Government in 1976.
Starting with a Hire Purchase Scheme in 1976-77, NIDC started assistance under the Refinance Scheme of the Industrial Development Bank of India (IDBI) in 1978 and thereafter schemes National Scheduled Castes and Scheduled Tribes Finance and Development Corporation (NSTFDC) from 1992-93 and National Minorities Development and Finance Corporation (NMDFC) in 1997-98. In the light of changed perceptions brought in by the economic liberalization in the country, NIDC recognizes the need to diversify into other areas of business for generating sustainable revenue as also to increase its involvement directly in infrastructure development programs.
NIDC as a developmental agency has to depend on external funding for all its activities. The spread available from its term lending activities and other income generation like rent, commissions, etc., are only sufficient to meet administrative overheads. NIDC as a State Government undertaking is thus dependent on the State Government and other All India Financial Institutions like the IDBI, SIDBI, NSFDC and NMDFC for funding its proposed programs.
While the overall economic changes in the country has attributed to the changed perceptions and thinking as regards to developmental funding, organizations like NIDC operating in economically underdeveloped states like Nagaland does suffer serious setbacks in its operations specially in the absence of fall-back supports. NIDC requires the support of the State Government by way of Equity Contributions, grant for developmental activities, etc., for supporting and implementing policies & program of the Government in industrial development of the State.
Objectives of NIDC Nagaland (Nagaland Industrial Development Corporation)
- Carrying out integrated planning and physical development of declared urban areas.
- Formulating and submitting development plans, including capital investment plans.
- Undertaking the execution of development projects and schemes.
- Formulating and implementing urban land use policy.
- Developing environmental standards and preparing schemes for the environmental improvement of urban areas.
- Providing technical planning services.
- Preparation and implementation of regional Plans, Master plans, New township Plans and Town Improvement Schemes.
- Promoting research and development of new techniques in City planning, Urban Development and Housing Construction.
- To promote and secure better planning and development of the state.
In order to achieve its objectives, NIDC Nagaland operational frame work and area of focus revolves around:
- Creating affordable housing using environment-friendly building materials and cost-effective building technologies.
- Creating self-contained and self-sustaining residential complexes in the shape of Urban Estate/Integrated Townships.
- Undertaking projects which focus on promoting urban development, developing commercial complexes, creating state-of-the art infrastructure.
- Optimum utilization of vacant government lands to generate additional resources for the State government for financing city redevelopment, regeneration and other infrastructural development.
- Create ethos of conversation to enhance overall development in the state.