Mizoram saw new investments worth 16,800 cr in last four fiscals: Report

Guwahati, Aug 26 (PTI) Mizoram has witnessed investments of nearly Rs 16,800 crore in various new projects during the last four fiscals, according to a latest report by MSME Export Promotion Council.

The report, titled 'Investment, Development & Growth in Progressive Mizoram', highlighted that the Northeastern state is registering robust economic growth and has seen notable expansion across its sectors.

"It has attracted an investment in the new projects between 2021-22 and 2024-25 of Rs 16,720 crore," MSME Export Promotion Council (MSME EPC) said.

In 2021-22, the state saw new investments of Rs 2,587 crore, followed by Rs 126 crore in 2022-23, Rs 41 crore in 2023-24 and Rs 1,397 crore in 2024-25, it said.

Apart from these, investments were made in various ongoing and completed projects, it added.

"It is expected that these projects have generated direct employment opportunities for 30,000-35,000 people and 20,000 indirect jobs," MSME EPC said.

While projects worth Rs 1,918 crore were completed between 2021-22 and 2024-25, projects worth Rs 1,21,385 crore are under various stages of implementation, it said.

"Completion of these projects will generate jobs for over 50,000 people. The services sector has been a significant contributor to the extent of 45-46 per cent of the gross state value added (GSVA)," it said.

MSME EPC Chairman DS Rawat said the sector witnessed improvement and its GSVA share rose from 25 per cent to 34 per cent, while agriculture and aligned sectors declined from 25 per cent to about 20 per cent.

"The state's economy is growing consistently, ranging from 13 to 15 per cent. The MSME sector in the state is poised for a significant upward trajectory," he said.

The report said there is a huge untapped potential in the tourism sector in the state.

"To tap into its potential, the state should promote eco-adventure packages, wildlife safaris and trekking circuits, highlight festival tourism, accelerate village tourism, enhance infrastructure and explore cross-border tourism," it said. PTI TR TR SOM