Mizoram Economy is based on agriculture, horticulture, forest products, industry, mineral, and tourism sectors. The gross domestic product of Mizoram amounted to Rs. 3,410 million in 1990, in 1995 this figure amounted to Rs. 9,370 million, and in 2000 this figure stood at Rs. 17,690 million. This shows that the Economy of Mizoram has grown at a very slow pace.
The Economy in the state of Mizoram depends mainly on the agricultural sector as more than 70% of the people of the state are engaged in this sector. The climatic condition of the state is favorable for the growth of a wide variety of fauna and flora. The various kinds of crops that are grown in Mizoram are rice, cotton, oilseeds, pulses, maize, sesame, and sugarcane. The people follow the method of shifting cultivation which is also known as Jhumming method of cultivation. This sector has given a major boost to the Economy of Mizoram.
The Economy of the state of Mizoram also gets its revenue from the horticulture sector. The state has around 4.40 lakh hectares of land under horticulture cultivation. The main crops grown in the horticulture sector in the state of Mizoram includes pine- apple, orange, and banana. The horticulture sector has witnessed a sharp increase in recent years and this has given a major boost to the Economy in Mizoram. Mizoram Economy gets revenue from the forest products sector as the state has a huge forest cover. The various kinds of forest products manufactured are cane works, bamboo works, and wood works. The products manufactured are sold all over the country and even exported all over the world.
The Economy in the state of Mizoram depends for its revenue on the industrial sector. But the industrial sector is not that developed due to the lack of infrastructural development and also due to the lack of raw materials. The Economy of Mizoram gets very little revenue from the mineral sector for this sector has not been fully exploited. And this has hampered the growth of Mizoram Economy. The contribution of the tourism sector to the Economy of Mizoram is also very less due to the geographical isolation of the state.
In order to boost the Economy of the state of Mizoram, the state government has to develop the infrastructure of the state by constructing new roads, bridges, and drainage system. The state should also take measures to improve the power supply in the state. The Mizoram government should also set up new industries so that the economy of the state is able to grow.
Mizoram Economy has grown at a very slow pace. So that growth takes place in the economy of the state, the Mizoram government should make determined efforts.