Aizwal: Mizoram Chief Minister Lalduhoma has announced an ambitious target of increasing the state’s contribution to India’s from the current 0.1 per cent to 1 per cent and raising its per capita income to Rs 16 lakh by 2047.
Addressing the Youth Entrepreneurship Summit (YES) 2026, organised by the Mizoram Entrepreneurs’ Chamber (MEC), Lalduhoma said the state government was working towards transforming Mizoram across various sectors as part of its development vision for 2047.
He pointed out that although Mizoram accounts for around 0.9 per cent of India’s population, its contribution to the country’s GDP remains at approximately 0.1 per cent. The government aims to increase this share tenfold over the next two decades, he said.
The Chief Minister said efforts to achieve the target had already begun at the grassroots level through initiatives such as support prices for agricultural produce and insurance coverage for crops and livestock.
Highlighting the Chief Minister Special Package under the state’s flagship Bana Kaih scheme, Lalduhoma said it offers financial assistance to individuals seeking to establish or expand small businesses, alongside a separate loan facility for larger enterprises.
He maintained that financial assistance under the scheme was extended strictly on the basis of project merit, without favouritism or discrimination. Claiming that no beneficiary had defaulted on loan repayment so far, he described Bana Kaih as an effective initiative to encourage aspiring entrepreneurs.
Emphasising the role of innovation in economic growth, Lalduhoma outlined several government initiatives to promote start-ups and new ventures, including the Innovation Facility Centre, Innovation Awards, Venture Capital Fund and Mizoram Start-up Mission.
He also noted the growing momentum in the micro, small and medium enterprises (MSME) sector, with young entrepreneurs increasingly establishing food-processing units that use locally produced agricultural commodities.
Several permits had also been issued this year for manufacturing fruit beer using locally grown fruits, he added.
The Chief Minister urged young people to take advantage of government schemes designed to promote entrepreneurship and encouraged consumers to support products manufactured within the state.
He said the government had introduced the Mizoram Preferential Store Purchase Rule to encourage the procurement of locally manufactured goods. A Made by Mizo kiosk was also opened in Delhi in August to showcase products developed by entrepreneurs from the state.
On improving access to finance, Lalduhoma said the government considered setting up its own bank an important step towards ensuring easier and quicker access to credit for local entrepreneurs. A committee has already been constituted to examine the proposal, he added.
During the summit, the Chief Minister launched 10 products developed by Mizo entrepreneurs and distributed prizes to the winners of an Innovation Challenge.