Mizoram aims to raise share in India’s GDP to 1 per cent by 2047: CM Lalduhoma

Mizoram aims to increase its contribution to India’s Gross Domestic Product (GDP) from the current 0.1 per cent to 1 per cent and raise its per capita income to Rs 16 lakh by 2047, Chief Minister Lalduhoma said on November 3.

Addressing the Youth Entrepreneurship Summit (YES) 2026, organised by the Mizoram Entrepreneurs’ Chamber (MEC) in Aizawl, Lalduhoma said the state government was working towards transforming Mizoram across sectors in line with its vision for 2047.

He noted that while Mizoram accounts for around 0.9 per cent of India’s population, its contribution to the national GDP is only about 0.1 per cent. The government has set a target of increasing this contribution tenfold over the next two decades, he said.

The chief minister said efforts to achieve the target had begun at the grassroots level, including through support prices for agricultural produce and insurance schemes for crops and livestock.

Highlighting the Chief Minister’s Special Package under the state’s flagship Bana Kaih scheme, Lalduhoma said it provides financial assistance to people seeking to establish or expand small businesses, while a separate loan component caters to larger ventures.

He said assistance under the scheme was provided solely on the merit of projects, without favouritism or discrimination. No beneficiary who had received a loan under the scheme had defaulted on repayment so far, he claimed, describing Bana Kaih as an effective platform for aspiring entrepreneurs.

Emphasising innovation, Lalduhoma said the government was taking several steps to encourage start-ups and new businesses, including the establishment of an Innovation Facility Centre, Innovation Awards, a Venture Capital Fund and the Mizoram Start-up Mission.

He added that the micro, small and medium enterprises (MSME) sector was gaining momentum, with young entrepreneurs increasingly setting up food-processing units using locally produced agricultural goods.

Several permits had also been issued this year for the production of fruit beer using locally grown fruits, he said.

The chief minister urged young people to make use of government schemes aimed at promoting entrepreneurship and called on consumers to support locally made products.

During the summit, Lalduhoma launched 10 products developed by Mizo entrepreneurs and distributed prizes to the winners of an Innovation Challenge.