ITANAGAR: Arunachal Pradesh is currently witnessing that subsistence farming is fast making a transition from shifting jhum cultivation to settled agriculture, and emerging as a gateway for not only northeast but for Asia-Pacific, according to the study brought out by MSME Export Promotion Council and the Confederation of Organic Food Products & Marketing Agencies (COII).
Releasing the study on "Arunachal Pradesh Investment, Growth & Development with immense opportunities with Asian Countries" today, the Chairman of the MSME EPC Dr D S Rawat said slowly, the farmers are tapping the untapped opportunities in commercial agriculture and floriculture and if this trend continues, this will help farming community to enhance their income, and provide sustainable livelihood.
As per the CMIE data, during 2021-22, new investment projects announced were of Rs. 5646.3 million, completed the projects of Rs.27325 million, revived projects of Rs.10,00,000 million. The total investment projects outstanding were of Rs. 37,71,630 million and under implementation Rs.1611659 million.
During the FY 2020-21, the new investment projects announced were worth Rs.8435 million, completed of Rs.88602 million, revived the pending projects of Rs. 14850 million. The investment projects outstanding were of Rs. 28,23,868 million and under implementation of Rs. 15,32,280 million. Arunachal has huge potential for agro, forest and mineral based micro, small and medium enterprises. As per the MSME ministry, the estimated a number of MSMEs in the state are only 0.23 lakh and employing 0.41 lakh people.
The MSMEs have significantly contributed to the economic development of Papum Pare district which occupies the second position next alone to agriculture in terms of employment generation.
This sector accounts for about 60 percent of industrial units, 35 percent of manufacturing output, 30 per cent services sector. MSMEs have greater opportunities to grow as ancillary industries to unleash higher industrial growth. The sector being less capital intensive and more employment friendly have easier access to raw materials, subsidies and other incentives.
However, the sector is facing many challenges and issues because of both internal and external factors hampering MSMEs' performance. These include management related factors like production, marketing, human resources development, financial, technology and infrastructure.
The state has huge untapped hydro potential estimated at nearly 57,000 MW of which 1771 MW is being generated at present. Tapping this potential through small hydro projects of say 1000 MW capacity or even large run-of-the river projects could massively grow the state's GDP and revenues, a press release said.