Best Business Opportunities in Mizoram - Identification and Selection of right Project, Thrust areas for Investment, Industry Startup and Entrepreneurship
Mizoram is a state of India. It is located in the northeastern part of the country and is bounded by Myanmar (Burma) to the east and south and Bangladesh to the west and by the states of Tripura to the northwest, Assam to the north, and Manipur to the northeast. The capital is Aizawl, in the north-central part of the state. Agriculture is the dominant economic activity of Mizoram, engaging more than two-thirds of the workforce. Two types of agriculture are practiced: terrace cultivation, in which crops are planted on relatively permanent, graduated terraces on the sides of hills and mountains to conserve water and reduce soil loss; and shifting agriculture, in which tracts called jhum are cleared by burning, cultivated for a limited period of time. Mizoram has a population of 1,091,014 with 552,339 males and 538,675 females. This reflects a 22.8% growth since 2001 census; still, Mizoram is second least populated state of India. The sex ratio of the state is 976 females per thousand males, higher than the national ratio 940. The density of population is 52 persons per square kilometer. Mizoram gross state domestic product (GSDP) in 2011-2012 was about 6991 crore (US$1.1 billion). The state's gross state domestic product (GSDP) growth rate was nearly 10% annually over 2001-2013 period. With international borders with Bangladesh and Myanmar, it is an important port state for Southeast Asian imports to India, as well as exports from India.
TOURISM
Mizoram, the Land of the Highlanders, is sandwiched between Myanmar, Bangladesh and the states of Tripura, Assam and Manipur. The rivers, peaks, plains and the lakes are the treasures of Mizoram. It is full of high ranges running from north to south covered by greenery throughout the year. The Mizoram State Government begins to recognize tourism as an important sector of the economy which needs to be developed for greater income generation. More emphasis on sustainable eco-tourism, adventure tourism, village tourism and rural tourism would bring in high - value tourism. With the increase of tourist the need for budget hotels has been acutely felt.
Tourism has emerged as an important economic activity and one of the fastest growing industries in the world. Globally, Tourism is the fastest growing industry and in terms of value, it comes third only after petroleum and Transport Industry.
As such, Tourism Department in Mizoram is also one of the fastest growing Departments in Mizoram. The Department has achieved these objectives by constructing Tourist Lodge, Tourist Resort and other Tourist amenities in difference places of Mizoram through liberal financing of Ministry of Tourism, Government of India.
INDUSTRIAL POLICY
The Industrial Policy of Mizoram State was first notified on 15.3.1989 to give direction to the strategy for Industrial development of the State. It laid stress on reducing shifting cultivation by encouraging a shift from primary to secondary sectors while protecting the Socio-Cultural and ethnic identity of the indigenous enterprise of Mizoram.
In view of the National Industrial Policy which laid special emphasis for the development of Industries in the North Eastern Region, the Govt. of Mizoram had notified new Industrial Policy 2000 for accelerated Industrial and Economic development of the State. The Government had adopted the approach for identification of thrust areas and promoting them with fiscal and other incentives packages. Broad policy of Foreign Direct Investment (FDI) and Investment from outside the State has been adopted on Joint venture (JV) mode to safeguard the interest of the tribal population of Mizoram. Various administrative support system and market support system are also announced. The Govt. of Mizoram is mandated in giving sustainable employment and introducing better utilization of land by introducing New Land Use Programme (NLUP).
OBJECTIVES
• To create infrastructure facilities, provide incentives and marketing as well as technical support to industries.
• To provide skill development and training for educated youth to develop entrepreneurial skills and make them self-employed.
• To create employment opportunities particularly to the vulnerable section of the society and people in rural area, ensuring inclusive development.
• To reduce sectoral and regional imbalance in the industrial development in the State by promoting Industries under all sectors.
• To create proper linkage of processing Industries with the farm produce of agriculture, horticulture, forest and livestock’s.
• To attract investment in the state.
IDENTIFICATION OF THRUST AREAS
Thrust will be given for those industries based on value addition of locally available resources. Special incentives will be formulated for speedy development of industrial units engaged in any of the following thrust sector Enterprises.
• Forest-based Industries
The vast bamboo and other forest resources of Mizoram will be optimally harvested for setting up of Industry for manufacturing of various high value bamboo and other forest based products.
• Food Processing Industries
Primary production of various food items, whether agricultural based, horticultural or livestock based will be linked with processing Industries.
• Handloom Industries
Handloom sector will continue to receive serious attention of the Govt. Utmost importance will be given for improving quality product by introducing improved design, packaging, branding.
• Handicraft Industries
The traditional skill of Mizo people will be upgraded and diversified for market competitiveness of handicraft products.
• Plantain fibre and hill brooms
The Govt. will encourage value addition of hill-brooms. The flow of raw and unprocessed broom outside the state will be discouraged by giving attention towards value addition to help local industry.
• Textile related industries
Bulk production of readymade garments will be encouraged as this sector is having good potential for market outside the state and export.
• Animal Feed and poultry feed Industries
The Government is giving thrust towards having sufficient meat and meat products for which farming has been encouraged.
INCENTIVES
The incentives offered under the Rules for the grant of incentives/subsidies under the Industrial Policy of Mizoram State are-
• Subsidies on the cost of Project Report
• Land subsidy
• Factory rent subsidy
• Manpower development subsidy
• Interest subsidy
• Power subsidy
• Subsidy on Power Line
• Subsidy on Power Generating set
• State Transport subsidy on Plant and Machinery
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