Sikkim is the largest producer of large cardamom in India.
Sikkim is one of the fastest-growing states in India. The state has favourable agro-climatic conditions, which support agriculture, horticulture, and forestry. Sikkim got certified as the first fully organic state in India by the Central Ministry of Agriculture and Farmers’ Welfare as well as other recognized agencies of the country. It is home to around 5,000 species of flowering plants, 515 rare orchids, 60 primula species and 36 rhododendron species. This makes it one of the leading states in the northeast in terms of production and supply of cut flowers to mainland consumer markets. The state is also considered a huge cardamom epicentre of the world, producing around 80% of large cardamom in the country. According to the Global Childhood Report 2019, Sikkim was the best state under Protective Contexts.
The Gross State Domestic Product (GSDP) of Sikkim expanded at a CAGR of 12.66% between 2015-16 and 2020-21.
As of August 2022, Sikkim had a total installed power generation capacity of 704.72 MW, of which 75.92 MW was under central utilities, 415.11 MW was under state utilities and 213.69 MW was under the private sector. Of the total installed power generation capacity, 11.92 MW was contributed by thermal and 692.80 MW by renewable energy.
According to the Department for Promotion of Industry and Internal Trade (DPIIT), Foreign Direct Investment (FDI) inflow in Sikkim (Including West Bengal and Andaman & Nicobar Islands) totalled US$ 6.35 billion between April 2000-September 2020.
Total merchandise exports from Sikkim stood at US$ 7.92 billion in FY23 (Until August 2022) and US$ 18.91 billion in FY22. Drug formulations, biologicals, medical and scientific instruments, cereal preparations and miscellaneous processed items accounted for a majority share in the overall exports from the state. In FY22, total exports of drug formulation products from Sikkim stood at US$ 11.27 million (~67%).
Some of the major initiatives taken by the Government to promote Sikkim as an investment destination are:
The High Level Committee (HLC) under the Chairmanship of the Union Home Minister, Mr. Amit Shah, has approved additional Central assistance under the National Disaster Response Fund (NDRF) to six States, which were affected by cyclone/ floods/ landslides during this year.
IFFCO's Organic Joint Venture, SIFCO (Sikkim IFFCO Organics Ltd.) has started the construction of Integrated Food Processing Units, at Rangpo, Sikkim. The project is worth Rs. 50 Crore (US$ 6.80 million) and expected to be completed by October 2021.
Raksha Mantri, Mr Rajnath Singh dedicated 44 major permanent bridges, to provide better connectivity to remote areas across seven states and union territories. He also laid the Foundation Stone for Nechiphu Tunnel in Arunachal Pradesh.
India ranked first in number of organic farmers and ninth in terms of area under organic farming, while Sikkim became the first State in the world to become fully organic.