Arunachal Pradesh government has inked an agreement with the Indian Institute of Management Shillong here to foster better financial and policy management aimed at improving livelihoods.

Arunachal Pradesh chief secretary Naresh Kumar and IIM Shillong director DP Goyal signed the MoU in the presence of Chief Minister Pema Khandu on Friday.

"The MoU is aimed at fostering mutual agreement between the Dr APJ Abdul Kalam Centre for Policy Research Analysis of IIM Shillong and the Finance Planning and Investment Department of the Government of Arunachal Pradesh," IIM Shillong said in a statement.

It said the MoU recognises the Dr APJ Centre of IIM Shillong as an official Think Tank and Knowledge partner of the state government of Arunachal Pradesh. "IIM Shillong will assist the government of Arunachal Pradesh in developing policies and roadmap for business development in handloom, horticulture, tourism, logistics and BPO sector, etc," it added.

Khandu appreciated the effort of this MoU and suggested that vision of this MoU should be rolled out as action and to make the best effort in the development of the state. The chief minister also stressed on the immediate requirement of training and capacity building programmes that could be organised often.

He assured all out support to IIM Shillong in engagement with the state government. A senior IIM Shillong official said, the Institute will facilitate the state government in implementing some of its flagship projects by providing critical managerial interventions.

The IIM Shillong will organise managerial capacity building programmes for the newly recruited officers of Arunachal Pradesh and the MoU laid major emphasis on establishing a satellite or an extension knowledge centre of IIM Shillong at Itanagar.

This off-campus of IIM Shillong at Itanagar will facilitate in imparting skill training to youths of Arunachal Pradesh, entrepreneurship development, promoting startup ecosystem amongst others, he said.