Latest update: September, 2019
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 neighboring countries, trade facilitation has improved over the last decade.
Between 2011-12 and 2017-18, Gross State Domestic Product (GSDP) expanded at a Compound Annual Growth Rate (CAGR) of 15.93 per cent to Rs 176.20 billion (US$ 2.73 billion) whereas the per capita GSDP grew at a CAGR of 14.23 per cent to Rs 145,143 (US$ 2,252.02). Total merchandise exports from the state stood at US$ 1.07 million in FY18 and US$ 1.08 million in FY19 (up to November 2018).
The state has the potential to harness 4,500 MW of hydro power. Mizoram has the potential to generate 4,500 MW of hydro power, of which 97.94 MW was installed as of July 2019. 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.
As of June 2019, Mizoram will commence two micro hydroelectric power plants that will generate 0.20 MW power.
According to the Department for Promotion of Industry and Internal Trade (DPIIT), FDI inflows to the Northeast states totalled to US$ 116 million from April 2000 to March 2019 and for Q1 FY20 FDI inflow stood at US$ 6 million.
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.
The following are some of the major initiatives taken by the government to promote Mizoram as an investment destination:
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