With its undulant topography broken by hilly ranges, Mizoram’s gentle slopes are suitable for Horticulture and cultivation of field crops, with the climate further adding to the ideal conditions for setting up agricultural and forestry produce-based industries. Contributing to 14% of the country’s bamboo production, the state’s strategic location on the Eastern border offers a gateway for engaging in international trade with the Southeast Asian countries.
• Credit Linked Capital Subsidy Scheme (CLCSS) for Technology Upgradation of the Small Scale Industries: The Scheme (pre-revised) provided for 12 per cent capital subsidy to SSI units, including tiny units, on institutional finance availed of by them for induction of well established and improved technology in selected sub-sectors/products approved under the Scheme. The eligible amount of subsidy calculated under the pre-revised scheme was based on the actual loan amount not exceeding Rs.40 lakh.
• Credit Guarantee Fund Scheme for Micro and Small Enterprises: It aims to make available collateral-free credit to the micro and small enterprise sector. Both the existing and the new enterprises are eligible to be covered under the scheme.
• ISO 9000/ISO 14001 Certification Reimbursement Scheme – Incentive Scheme of Reimbursement of expenses for acquiring Quality Management System (QMS) ISO 9000 certification/environment management (EMS) ISO 14001 certification to the extent of 75% or Rs.75,000/- whichever is lower.
• MSME MDA – The scheme offers funding upto 75% in respect of to and fro air fare for participation by MSME Entrepreneurs in overseas fairs/trade delegations.
• Scheme of Micro Finance Programme: The Government of India will provide funds for Micro-Finance Programme to SIDBI, which shall be called ‘Portfolio Risk Fund’ (PRF). This fund would be used for security deposit requirement of the loan amount from the MFIs/NGOs and to meet the cost of interest loss.
THE MIZORAM INDUSTRIAL POLICY 2012: Special Capital Subsidy assistance to MSME in thrust sectors for first generation entrepreneurs by supplementing schemes under NEIIPP and other schemes of the Govt. of India.
• Under this following incentive subsidy schemes will be provided:
• Subsidy on Cost of Project Report
• Land Subsidy
• Factory Rent Subsidy
• Interest Subsidy
• State Transport Subsidy on Plant & Machineries
Prime Minister’s Employment Generation Programme: 25% subsidy for entrepreneurs of urban area, 35% subsidy for entrepreneurs of rural area, 5% of project cost as beneficiaries’ contribution & balance 95% loan from banks is provided to the educated unemployed youth.
Rajiv Gandhi Udyami Mitra Yojana: The objective of Rajiv Gandhi Udyami Mitra Yojana (RGUMY) is to provide handholding support and assistance to the potential first generation entrepreneurs, who have already successfully completed EDP/SDP/ESDP/VT programmes, through the selected lead agencies i.e. ‘Udyami Mitras’, in the establishment and management of the new enterprise, in dealing with various procedural and legal hurdles and in completion of various formalities required for setting up and running of the enterprise.
Jute Technology Mission: Under this 10 % of the Jute Technology Mission budget has been reserved for executing the JTM schemes in the North East Region covering Assam, Arunachal Pradesh, Meghalaya, Manipur, Mizoram, Nagaland, Sikkim and Tripura which provised subsidy incentives to new jute start ups.
NEDFI: NEDFi has a special focus on development of entrepreneurs in the region. Entrepreneurship in the real sense is still at its nascent stage in the NE. NEDFi has started Business Facilitation Centre (BFC) for providing consultancy and supports in setting up a business enterprise. BFC helps in preparing project report and provides information about various incentives available in the region.
Schemes by North Eastern Development Finance Corporation Ltd. –
• Rupee Term Loan (RTL) Scheme: To provide medium to long term financial assistance for setting up of new, expansion, diversification or modernization projects in various manufacturing or services sector. The assistance shall be in the form of Rupee Term Loan.
• Equipment Finance Scheme: For financially sound companies, loans are provided for the purchase of equipment.
• Corporate Finance Scheme: For providing finance such as normal capital expenditure, working capital margin, shortfall in working capital, repayment of high cost debt and general corporate purpose like funding of business acquisition or for brand building etc. where no tangible asset creation may be envisaged.
• Working Capital Term Loan Scheme (WCTL): Upto a Maximum of 75% of the working capital requirement of business for one cycle of operation is provided to deserving units in the form of working capital term loan.
• NEDFi Equity Fund Scheme: To invest in projects promoted by entrepreneurs in North-Eastern Region having sound business ideas with potential for high growth and more than normal returns on investment.
• NEDFi Opportunity Scheme For Small Enterprises: To provide long term financial assistance for setting up a new industrial and infrastructure projects as well as for expansion, diversification or modernization of existing industrial enterprises excluding Commercial Real Estates.
• North East Entrepreneur’s Development Scheme [NEEDS]: The objective of the scheme is to help first generation entrepreneurs who are short of equity.
Benefits can be extended to Proprietorship & Partnership Concerns and Companies. Technical qualification of the promoter in the relevant field is a pre-requisite.
• Women Enterprises Development Scheme: It aims to provide financial assistance in the form of Term Loan to women entrepreneurs for taking up business ventures. Existing business ventures will also be eligible under the scheme for expansion, modernization and diversification to the skilled women entrepreneurs in the age group of 18 – 50 years.
In Summary – Mizoram and Entrepreneurship:
In a state where Industrial units primarily comprise of small scale industries, creation of tourist complexes, adventure sports and resort facilities, amusement parks, health farms, hotels, convention centres, tourist travel services etc., offer various avenues for investment in the tourism sector of Mizoram. Further, aspiring entrepreneurs have the opportunity to tap into the manufacturing, marketing and distribution of Sericulture products and handloom and crafts of Mizoram.
To know more about how Mizoram is building a vibrant entrepreneurship ecosystem, click here.
Data Sources for Mizoram:
Note: Policy details provided here are for the purpose of information only. Please verify the latest information from the relevant Government or MSME website of the state. Other data and information is curated from various websites and public documents. In case you have any corrections, additions, or suggestions, please share the same with us, and we’ll be happy to incorporate them here.