GUWAHATI Mizoram created 30,000 employment opportunities during the last five financial years and would add another 50,000 after the projects under implementation are completed, a new study on the medium small and micro enterprise (MSME) sector has said.
The study titled “Progressive Mizoram presents new vistas of opportunities” covering the fiscals from 2018-19 to 2022-23 was conducted by the MSME Export Promotion Council (EPC) and the Confederation of Organic Food Producers and Marketing Agencies. It was released by MSME EPC chairperson D.S. Rawat a few days ago.
New investment projects
According to the study, Mizoram announced new investment projects worth ₹7,118 crore during the five-year period and projects worth ₹320 crore were completed. The completion of all the projects would help the State create a total of 80,000 direct and indirect jobs.
“The State’s focus on organic and tourism promotion has been extremely helpful in providing sustainable livelihood and in promoting start-ups in Mizoram. The State’s economy has been growing at an impressive rate with the tertiary or service sector leading the charge,” Dr. Rawat said.
In 2022-23, the service sector contributed the lion’s share of 50.08% of the gross State value-added (GSVA) followed by the industry at 25.09% and the primary sector, which comprises agriculture and allied activities at 24.83%, the study said.
The service is likely to register further impressive growth due to large number of start-ups in this sector in 2023-24, the study predicted.
“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 study said, pointing out that the share of agriculture, forestry, and fishing has steadily increased in the State over the years from 20.12% in 2011-12 to 24.83% in 2021-22.
Per capita income
The per capita income of the State, according to the economic survey for the financial year 2021-22 was ₹1,75,896 compared to the previous fiscal’s estimate of ₹1,79,503.
Dr. Rawat said Mizoram’s hilly terrain and transportation bottleneck had limited the scope of large industries.
“MSME should thus be encouraged for employment generation. The thrust should be on value-addition of locally available resources such as bamboo, processing of plantation crops, handloom and handicraft, and animal husbandry,” he said.
