Also pointing out that Nagaland has limited revenue, generating only about Rs 100 crore per year due to its status as a consumer state and not a manufacturing state, Rio, however, said that GST has significantly changed the situation and with many of big companies foraying into the state the state’s GST revenue could be again doubled up in the days ahead.
By Imna Longchar, TFM Nagaland Correspondent
Nagaland chief minister Neiphiu Rio on Saturday said that the state had collected around Rs 1,064 Crore in the fiscal year 2023-24 as Goods and Services Tax (GST), while also disclosing that more than 10,000 residents of the State have already registered themselves to pay the GST.
He was addressing the grand opening of Shoppers Stop, one of India’s most sought-after premium fashion, beauty, and gifting omnichannel stores located at Khermahal police point, Dimapur, Nagaland.
Rio hoped that the store would bring an “unparalleled” shopping experience to the residents of Dimapur and beyond while mentioning that although the state is not a manufacturing state, the arrival of retail stores has attracted numerous brands to many of the “branded companies” from across.
Also pointing out that Nagaland has limited revenue, generating only about Rs 100 crore per year due to its status as a consumer state and not a manufacturing state, Rio, however, said that GST has significantly changed the situation and with many of big companies foraying into the state including the likes of “Shoppers Stop”, the state’s GST revenue could be again doubled up in the days ahead.
Mentioning that the opening of the new store in the only commercial hub of Nagaland, Dimapur, could be a channel in providing employment opportunities to the many Naga youths, the Nagaland chief minister further went on to urged all to
support and protect business communities while creating an atmosphere that would attract more businesses to come into the state.
Implying that the northeast region has many marketing scope, customer care associate, managing director, and CEO, Shoppers Stop Ltd, Kavindra Mishra said that the Northeast region is a significant market for the company and stated that the company was thrilled to open its first store in Dimapur, Nagaland, for which he added that it marked important milestone in its expansion strategy and demonstrates its commitment to provide exceptional shopping experiences across India.