Mizoram is one of the smallest states located in the north-eastern part of India. The state has a high proportion of its population living in the urban areas, and also has one of the highest rates of literacy. Power too is available in plenty. In spite of this the state is poor in other physical infrastructure, like road and communications. Productive labor too is in shortage. Agriculture is the main occupation of the people, with ginger being the most common. Other cash crops like mustard, seasame, and potatoes too are popular. There is no major industry in Mizoram. Handicraft and Handloom are the major industrial activities of the territory.
Incentives:
25% subsidy on the cost of land allotted to small-scale units
50% reimbursement on the monthly rent for industrial sheds for 5 years
5-year interest rate subsidy of 4% on term loans and working capital loans
60% rebate on electricity consumption for 5 years for small-scale units
50% rebate on electricity consumption for 5 years for medium-scale units
30% rebate on electricity consumption for 3 years for large-scale units
50% to 90% transport subsidy for procuring raw materials up to the Siliguri rail-head
5-year income tax holiday for new industrial units set up in the Northeast
Objectives
The main aim of this New Industrial Policy of Mizoram, 2000 will be to engineer rapid growth in the State by industrialization of the State to a sustainable extent for the fulfillment of the following objectives:
Enrichment of industrial growth potential lying in the sectors like agriculture, horticulture, forest and establishment of proper linkage amongst the industries based on resources available in these sectors.
Formation of suitable mechanism for attracting and growth of capital formation in Mizoram by taking full advantage of the policy changes initiated by the Central Government in respect of industry, trade and commerce from time to time.
Identifying and develop entrepreneurial and managerial skills by providing suitable training programmes at District, Sub-Division and Block levels and to create facilities for training of industrial labour on sustained basis.
Ensuring balanced sectoral and regional growth by promoting industries under all sectors
Promotion and modernization of textile industry including traditional Sericulture and Handloom and Handicraft sectors by induction of improved design, quality and technology so as to make textile industry a potential export-oriented sector.
Encourage joint ventures between local entrepreneurs and industrialists from outside the State on selective basis.
Encourage joint venture from outside the State with State’s own public sector undertakings and with resourceful local entrepreneurs.
Encouraging self-employment especially among technically qualified unemployed persons of the State for generating additional employment opportunities in the State
