Aizawl: Mizoram has undergone significant growth and structural transformation over the past decade, transitioning from an agriculture-centric economy to a more diversified one driven by the industrial and tertiary sectors, according to the Economic Survey 2024-25 tabled in the state assembly on Wednesday.
Chief Minister Lalduhoma presented the survey in the House, highlighting that the Gross State Domestic Product (GSDP) at current prices is estimated to increase from Rs. 30,690.33 crore in 2022-23 to Rs. 35,575.54 crore in 2023-24, reflecting a robust 15.92% growth over the previous year.
At constant (2011-12) prices, the GSDP has shown sustained growth, projected to achieve an 11.6% increase and an annual economic growth rate of 9.89% in 2023-24.
This underscores the state’s strong recovery momentum and solid economic fundamentals, the report noted.
The survey emphasised Mizoram’s commitment to sustainable growth, inclusive development, and fiscal discipline, which have driven the state’s economic transition.
This progress has been facilitated by comprehensive economic reforms, infrastructure development, and strategic policy initiatives.
The tertiary sector remains the leading contributor to the state’s economy, accounting for 46.87% of the Gross State Value Added (GSVA) at current prices.
It is expected to grow by 8.17% in 2023-24, fuelled by expansions in trade, tourism, financial services, and public administration.
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The primary sector, encompassing agriculture and allied activities, has also experienced steady growth.
Advances in agricultural practices, modern farming techniques, and rural development activities have enhanced productivity, contributing 20.45% to the GSVA.
The industrial sector’s contribution to the GSVA has risen from 31.23% in 2022-23 to 32.68% in 2023-24, reflecting its growing role in the state’s economy.
The Economic Survey projects the contributions of the primary, secondary, and tertiary sectors to the GSVA in 2024-25 at 20.55%, 34.21%, and 45.24% respectively, showcasing a balanced and diversified economic structure.
