Mizoram is located in Northeast India, and the capital is Aizawl. The state acquired its name from Mizo representing land, and ram refers to Mizos, thus, it is the ‘Land of the Mizos.’ Mizoram shares with northeast states its borders such as Tripura, Manipur, and Assam, besides Myanmar and Bangladesh, its neighboring countries.

The economy of Mizoram relies on horticulture, agriculture, industry, forest products, tourism, and mineral sectors. Mizoram's economy mainly depends on agriculture for over 70%. The climatic conditions are favorable for the growth of flora and fauna to a great variety. The different kinds of crops grown are rice, cotton, maize, sugarcane, pulses, oilseeds, and sesame. People following the shifting cultivation method are referred to as the Jhumming cultivation method. It offers a boost to the Mizoram economy.

The state economy gets from the horticulture sector its revenue. The state has 4.40 lakh hectares under horticulture cultivation. The crops mainly grown are in the Mizoram state and include orange, pineapple, and banana. Mizoram's economy is earning from the forest products revenue and boosting the economy, while the horticulture sector is witnessing an increase. There are various types of products manufactured in the forest and including bamboo works, cane works, and woodworks. The different forest products manufactured in Mizoram are sold in the country and exported all over.

In 2021, Mizoram installed 207.45 MW power-generation capacity, and it comprises hydro (97.94 MW), renewable energy sources (38.00 MW), and thermal (71.51 MW). The state contributes 14% of the bamboo production, and the climatic conditions offer a breeding ground for all silkworm types ensuring commercial exploitation. 

List of the state schemes to start a new manufacturing unit 

The Mizoram state economy depends on the industrial sector revenue, and it is not developed owing to the lack of raw materials and infrastructural development.  The state government has now taken measures, and the first step is apparent in the power supply. The Mizoram government is planning to set up new industries.

  • The Mizoram government plans to construct solar plants to generate solar power of 80MW.
  • The state government allocates Rs. 46,664.90 lakh for the roads and bridges development.

Business Loan schemes by the state government.

Economic development begins with women's workforce empowerment. Owing to this, various bank institutions are introducing several financial schemes to assist women entrepreneurs in achieving business goals. The loans are given to expand an existing business or to set up a new business. The loans come with low-interest rates, nil collateral, minimum documentation, and longer repayment features.

 The PMEGP (Prime Minister’s Employment Generation Programme) is a subsidy program credit-linked by the MSME Ministry to generate in rural and urban areas the employment opportunities. With the PMEGP's help, the Government provides subsidies on the total cost of the project up to 35%. The cost covers service units up to Rs. 20 lakh and for manufacturing units up to Rs. 50 lakh.

The state government has allocated for education, art and culture, and sports sectors Rs. 182,790.91 lakh, health, and family welfare Rs. 182,790.91 lakh, minerals, and industry sectors Rs. 182,790.91 lakh, agriculture and allied activities Rs. 86,550.07 lakh, and for the tourism sector Rs. 1,089.78 lakh.