Mizoram Economics

At current prices, the Gross State Domestic Product (GSDP) of Mizoram reached INR 251.49 billion (US$ 3.57 billion)in 2019-20. The climatic conditions in the state provide a conducive breeding ground for commercial exploitation of all kinds of silkworms. Sericulture remains one of the state’s key industries. Raw silk production in Mizoram stood at 104 metric tonnes in 2019-20. The

state has a large forest area and contributes 14% to the country’s bamboo production. Bamboo forests cover 3,267 sq kms of Mizoram’s geographical area. There is an estimated growing stock of 25.26 million metric tonnes (MMT) of 35 varieties of bamboo in the state.  It offers immense potential for commercial exploitation of the natural resources for export-oriented industries. In FY21 (April 2020-Feburary2021), the total merchandise exports from the state stood at US$ 0.45 million. The total exports from hand tool, cutting of metals stood at US$0.19 million. According to Department for Promotion of Industry and Internal Trade (DPIIT), cumulative Foreign Direct Investment (FDI) inflow in Mizoram and other NE states stood at US$ 116 million between April 2000 to March 2019 and US$ 6 million during H1FY20. As of 2013, according to the Reserve Bank of India, 20.4% of total state population is below poverty line, about same as the 21.9% average for India. Rural poverty is significantly higher in Mizoram, with 35.4% below the poverty line compared to India’s rural poverty average of 25.7; while in urban areas of Mizoram, 6.4% are below the poverty line. Mizoram has a highly literate work force, with literacy rate of nearly 91.33%, and widespread use of English. With a literacy rate of Mizoram offers a highly literate workforce. Knowledge of English is an added advantage for the Mizo workforce.