Industrial Development & Economic Growth in Mizoram

Latest update: February, 2016

Economic Snapshot: GSDP of Mizoram

Mizoram's gross state domestic product (GSDP) was US$ 1.8 billion over 2014-15.

Economic Snapshot: GSDP of Meghalaya

Economic Snapshot: NSDP of Mizoram

Mizoram's net state domestic product (NSDP) was US$ 1.6 billion over 2014-15.

Break up of outstanding investments in Meghalaya

 

February, 2016

Mizoram is one of the seven states in the North-East. Industries in the state enjoy a unique location-specific advantage. Bordering Myanmar and Bangladesh, Mizoram offers a gateway for engaging in international trade with Southeast Asian countries. With improving road, rail and air connectivity and the establishment of trade routes with neighbouring countries, trade facilitation has improved over the last decade.

Between 2004-05 and 2014-15, Gross State Domestic Product (GSDP) expanded at a Compound Annual Growth Rate (CAGR) of 11.29 per cent to US$ 1.75 billion whereas the Net State Domestic Product (NSDP) expanded at a CAGR of 11.61 per cent to US$ 1.62 billion. The tertiary sector, the largest contributor to Mizoram’s economy, increased at a rate of 10.9 per cent during 2004-05 to 2014-15, driven by trade, hotels, real estate, finance, insurance, transport, communications and other services.

Mizoram has a hydroelectric power potential of 3,662.78 MW, of which just 0.93 per cent has been harnessed to date. More PPP participation is expected to enhance the production. The state has a large forest area and contributes 14 per cent to the country’s bamboo production. The climatic conditions in the state provide a breeding ground for commercial exploitation of all kinds of silkworm.

Zoram Industrial Development Corporation (ZIDCO) is responsible for the overall development of industrial infrastructure in the state. Mizoram has eight industrial estates, of which five are operational and the remaining are yet to be developed.

ZIDCO has established an integrated infrastructure development centre (IIDC) at Lunglei district with an investment of around US$ 1.0 million. The centre offers power, water, telecommunication and other amenities for the industrial units.

The following are some of the major initiatives taken by the government to promote Mizoram as an investment destination:

  • Under the 12th Five-Year Plan, Mizoram has 11 ongoing tourism projects with a sanction of US$ 7.7 million from the Government of India.
  • In 2014-15, the state government of Mizoram announced plans to invest US$ 4.55 million for the construction of helipads & Improvement of Lengpui airport.
  • A border trade centre has been established for trade with Bangladesh.
  • In state budget 2015-16, the Government of Mizoram allocated US$ 19.03 million for the construction of Chhumkhum-Chawngte road and Champhai-Zokhawthar road. The construction of these roads forms a part of the externally aided projects (EAP) under the Public Works Department.
  • Mizoram is setting up a special economic zone (SEZ) in the Northeast with assistance from the North East Council. The SEZ will be located at Khawnuam village in Champhai. Bamboo-based industries would play a major role in the proposed SEZ.
  • The National Bamboo Mission (NBM), a centrally sponsored scheme, envisages increase in the coverage area under bamboo plantation and consequently improvement in yield to 18-20 tonnes per hectare from current 3 tonnes.
  • The state government is working towards bringing maximum families under sericulture farming and silkworm rearing. The government of Mizoram has opened one research & training institute at Aizawl (Zemabawk) which provides training and certification courses in Sericulture.
  • Mizoram's Government has signed memorandum of understanding (MOU) with national companies for oil palm development.
Mizoram State Presentation

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Mizoram Map

Mizoram

x IBEF : India Brand Equity Foundation