Study finds details of investment projects in Mizoram

economictimes.indiatimes.com:

Mizoram has announced during the last five years (2018-19 to 2022-23) new investment projects in the state worth Rs.7118 crore and completed projects worth Rs.320 crore and the projects under implementation and or are at various stages of completion of Rs,1,33,078 crore according to the just concluded study conducted by the MSME Export Promotion Council and the Confederation of Organic Food Producers and Marketing Agencies (COII). The study was released by MSME EPC chairman Dr D S Rawat.

While releasing the study, Rawat said, approximately 30,000 employment opportunities have been created and once the projects under implementation are completed, will add another 50,000 jobs, direct and indirect. The state’s focus on organic and tourism promotion has been extremely helpful in providing sustainable livelihood and in promoting start-ups in the state.

The state’s economy has been continuously growing at an impressive rate with the tertiary or service sector leading the charge. Dr Rawat said, while in 2022-23, the service sector contributed the lion’s share of 50.08 per cent of the gross state value added (GSVA), followed by the industry at 25.09 per cent and the primary sector, which comprises agriculture and allied activities at 24.83%, in 2023-24, the service sector is likely to register further impressive growth due to large number of start-ups in this sector.

However, with more than half of the state’s population deriving the greater part of their income from agriculture, faster growth in this sector is necessary to increase their income. The share of agriculture, forestry, and fishing has steadily increased over the years from 20.12 per cent in 2011-12 to 24.83 per cent in 2021-22.