Aizawl, Nov 3 (PTI): Mizoram aims to increase its contribution to India's GDP from the present 0.1 per cent to

Aizawl, Nov 3 (PTI): Mizoram aims to increase its contribution to India's GDP from the present 0.1 per cent to

Aizawl, Nov 3 (PTI): Mizoram aims to increase its contribution to India's GDP from the present 0.1 per cent to

Aizawl, Nov 3 (PTI): Mizoram aims to increase its contribution to India's GDP from the present 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 Tuesday.

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

    Though Mizoram accounts for around 0.9 per cent of India's population, its contribution to the country's GDP is only about 0.1 per cent, Lalduhoma said, adding that the government had set an ambitious target of increasing it tenfold over the next two decades.

    The CM said efforts to achieve the goal had begun at the grassroots level, including support prices for agricultural products 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 provided financial assistance to people seeking to establish or expand small businesses, while a separate loan component catered to larger ventures.

    He said that assistance under the scheme was provided solely on the merit of projects and 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 scheme as an effective platform for aspiring entrepreneurs.

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

    He said the MSME sector was also gaining momentum, with young entrepreneurs increasingly setting up food-processing units based on locally produced agricultural products.

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

    The CM 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, he launched 10 products developed by Mizo entrepreneurs and distributed prizes to winners of an Innovation Challenge.

(This story has not been edited by THE WEEK and is auto-generated from PTI)