NITI Aayog Launches the First Women Entrepreneurship Platform in Mizoram

Aizawl, Feb 27 (NationPress) The NITI Aayog has inaugurated the Women Entrepreneurship Platform's (WEP) Mizoram Chapter, marking the first initiative of its kind in the northeastern region, aimed at enhancing entrepreneurship among women, officials announced on Thursday.

Mizoram Chief Minister Lalduhoma, while addressing the state workshop focused on women-led development through entrepreneurship, expressed his appreciation to NITI Aayog for choosing Mizoram as the pioneering state in the northeast to establish a WEP chapter.

The Chief Minister remarked that the attendance of NITI Aayog Member V.K. Paul at the event serves as a significant motivation for everyone, stating, "we strongly believe this initiative will yield positive results."

He highlighted that women in Mizoram are exceptionally hardworking and play a crucial role in the state's economic advancement.

"In support of young and aspiring entrepreneurs, the state government has previously initiated the 'Bana Kaih' (Handholding) scheme. Currently in its pilot phase, we have identified 517 progress partners, of which 140 (27 percent) are women. We anticipate that more women will gain from this scheme, and we aim to collaborate closely with NITI Aayog on 'Bana Kaih' and other initiatives," said Lalduhoma.

Additionally, he expressed gratitude to Labour, Employment, Skill Development & Entrepreneurship Minister Lalnghinglova Hmar for spearheading this event.

NITI Aayog member Paul praised the entrepreneurial spirit and financial independence of women in Mizoram. He asserted that the WEP, launched by the Chief Minister on Thursday, would act as a vital driver for women’s empowerment and economic development.

Paul encouraged women entrepreneurs to register with WEP and fully leverage its offerings.

"Empowering women is essential for India's comprehensive growth, and Prime Minister Narendra Modi prioritizes this objective. NITI Aayog is dedicated to advancing this mission, and through WEP, we intend to foster transformative change," he added.

Last year, the Mizoram government introduced the 'Handholding Scheme,' locally known as 'Bana Kaih', which includes five key components as per the government guidelines, with the primary feature being collateral-free and interest-free bank loans. This scheme provides a financial support package for selected progress partners (beneficiaries), offering loans up to Rs 50 lakh through partnering banks. The state government would act as a guarantor for these project loans under current national credit guarantee schemes, an official mentioned.

Beneficiaries who consistently repay their loans may also receive interest subvention of up to 100 percent, offering considerable relief and encouragement for those who meet their repayment commitments. The scheme further includes the Chief Minister's Special Category Scheme, which offers grant-in-aid of up to Rs 1 lakh, as stated by the official.