Latest update: November, 2016
Nagaland is one of the seven states in the north-east. The state is flanked by Myanmar in the east, Arunachal Pradesh in the north, Assam in the west and Manipur in the south. Nagaland’s agro-climatic conditions favour agriculture, horticulture and forestry, offering immense potential in these areas.
Between 2004-05 and 2015-16, Gross State Domestic Product (GSDP) expanded at a Compound Annual Growth Rate (CAGR) of 9.33 per cent to US$ 3.47 billion whereas the Net State Domestic Product (NSDP) expanded at a CAGR of 8.10 per cent to US$ 2.85 billion. Agriculture accounts for a significant share in Nagaland’s economy. It contributed 29.74 per cent to the state’s total GSDP during 2015-16. Around 72 per cent of the population is engaged in the agriculture sector.
As of June 2016, Nagaland had total installed power generation capacity of 141.04 MW, of which 110.37 MW was under central sector and 30.67 MW was under state utilities. Of the total installed power generation capacity, 57.05 MW was contributed by thermal, 53.32 MW by hydro and 30.67 MW by renewable energy. As of March 2016, 94 per cent villages in the state had electricity supply.
The state has considerable resources of natural minerals, petroleum and hydropower. Nagaland has around 600 million metric tonnes (MT) of crude oil and more than 20 million tonnes (MT) of hydrocarbon reserves, which are unexploited. Moreover, the state has 315 MT of coal reserves and 1,038 MT of limestone reserves. Nagaland's estimated hydropower generation potential is 1,574 megawatt (MW), while the installed capacity is 53.32 MW as of June 2016, presenting huge investment opportunities.
Nagaland Industrial Development Corporation (NIDC) is responsible for the development of industrial infrastructure in the state. Promoted by NIDC, the Export Promotion Industrial Park (EPIP) at Dimapur has received formal approval as a special economic zone (SEZ) for agro and food processing. A proposed multi-product SEZ spread across 400 hectares in Dimapur has received formal approval.
The following are some of the major initiatives taken by the government to promote Nagaland as an investment destination:
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