Sitharaman lays foundation for IICA’s first NE campus in Shillong
In a landmark moment for the North East, Union Finance and Corporate Affairs Minister Nirmala Sitharaman on Friday laid the foundation stone for the first regional campus of the Indian Institute of Corporate Affairs (IICA) at Umsawli, Shillong. This marks a significant milestone not just for Meghalaya but for the entire region, as it becomes the first in the country to host a regional branch of this premier institution under the Ministry of Corporate Affairs (MCA).
Describing it as a “remarkable day for the North East,” Sitharaman said the initiative goes beyond hosting events to physically establishing a permanent institution. “This campus will act as an anchor for entrepreneurs, startups, and professionals to grow within a framework of responsible governance. It represents the Centre’s commitment to building corporate capacity and fostering sustainable entrepreneurship in this vibrant region,” she remarked.
The Finance Minister underlined that this step marks a shift from years of neglect to an era of focused development. “This is not about blaming the past but about laying strong institutional foundations for the future. The North East is finally receiving the attention and infrastructure it deserves,” she added.
Earlier in the day, Sitharaman inaugurated the IICA North East Conclave 2025 – ‘Ideation to Incorporation’ at IIM Shillong. The two-day conclave has drawn stakeholders from government, industry, academia, and the startup ecosystem to deliberate on issues like compliance, access to finance, branding, digital platforms, and logistics.
Highlighting the entrepreneurial spirit of the region, she said, “Startups in the North East are aligning with global trends. It’s critical that the policy ecosystem keeps pace to sustain this momentum.” She praised the MCA and the Meghalaya government for working closely to bring this vision to life.
Sitharaman also stressed the strategic role of the North East in India’s development story. Referring to Prime Minister Narendra Modi’s “Ashta Lakshmi” vision, she highlighted the region’s natural and cultural wealth, its strategic location, and the inherent values of its people. “The warmth, sincerity, and rootedness of the people here are remarkable. These values, combined with resources, can create a strong foundation for modern economic growth,” she said.
She pointed to digital initiatives like GeM and ONDC as tools enabling local products to find larger markets. However, she noted that logistical challenges still hinder the full potential of these efforts. “Digital visibility is not enough—products must physically reach their markets. Shared logistics hubs across the region could help address bottlenecks in warehousing, aggregation, and transportation,” she proposed.
Reaffirming the Centre’s focus on inclusive growth, she said the IICA campus is not just an academic building but a symbol of trust in the North East’s potential. “This is part of the India@2047 vision—a values-driven, locally empowering development process,” she added.
The event was attended by Meghalaya Chief Minister Conrad K. Sangma, Chief Secretary Dr. D.P. Wahlang, MCA Secretary Dipti Gaur Mukerjee, IICA DG G.K. Singh, IIM Shillong Director Nalini Prabha Tripathy, senior officials, industry leaders, academicians, and young entrepreneurs.
In his address, Chief Minister Sangma called the foundation of the IICA campus a “critical milestone” for Meghalaya and the North East. “Since the Hon’ble Prime Minister assumed office, the North East has witnessed transformational changes. This institute must now become a centre for meaningful engagement—driving professionalism, innovation, and global collaborations,” he said.
He urged stakeholders to work together to realize the campus’s full potential. “The foundation is laid; the opportunity is before us. Let’s make this institute a beacon of excellence not just for Meghalaya, but for the entire country,” he added.
To strengthen capacity building, compliance training, and regional collaboration, IICA signed seven strategic MoUs with institutions including the Meghalaya Administrative Training Institute (MATI), IIM Shillong, Software Technology Parks of India (STPI), ICAI, ICSI, ICMAI, and National Law University & Judicial Academy, Assam.
This initiative promises to be a catalyst for corporate growth, governance reform, and entrepreneurial success across the North East, signaling a new era of opportunity for the region.
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