Trade Analytics

Industrial Development & Economic Growth in Mizoram

Latest update: December, 2019

Economic Snapshot
Per capita Income

 

December, 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 neighbouring 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$ 1.33 million in FY19 and US$ 0.88 million in FY20 (up to September 2019).

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 November 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.

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:

  • By 2021, Mizoram government plans to construct four solar plants and a solar park to generate 80 MW solar power.
  • Under State Budget 2019-20, Rs 376.84 crore (US$ 53.92 million) has been allocated to the Urban Development and & Poverty Alleviation Department for Improvement of Urban Infrastructure in Cities and Towns.
  • The railway project of Bhairabi-Sairang route is estimated to be commissioned in 2018-19. Mizoram will get connected with the main rail lines through 52 Km Sairang – Bhairabi rail line. Crossing through 23 tunnels, 36 major and 147 minor bridges.
  • 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. As of August 2019, the Government of India released Rs 5.71 crore (US$ 0.81 million) for Mizoram under National Bamboo Mission (NBM).
  • 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.
  • Aizawl has been selected under Atal Mission for Rejuvenation and Urban Transformation (AMRUT) for which Rs 140.25 crore (US$ 19.44 million) has been allocated to Mizoram as of January 2019. It has also been selected under the smart cities mission of Government of India.
  • To promote brotherhood among Mizos across the globe, state government allocated Rs 1 crore (US$ 0.14 million) to organise the unity festivals.
Mizoram State Presentation

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Mizoram Map

Mizoram