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Sikkim 2012 the LAND of PEACE and TRANQUILITY

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Sikkim 2012 the LAND of PEACE and TRANQUILITY AUGUST Sikkim 2012 THE LAND OF PEACE AND TRANQUILITY For updated information, please visit www.ibef.org 1 AUGUST Sikkim 2012 THE LAND OF PEACE AND TRANQUILITY Contents Sikkim – An Introduction Infrastructure Status Business Opportunities Doing Business in Sikkim State Acts & Policies For updated information, please visit www.ibef.org 2 AUGUST Sikkim 2012 THE LAND OF PEACE AND TRANQUILITY Sikkim Factfile → Gyalshing, Namchi, Mangan, Jorethang, Singtam, Rangpo, Pakyong, Rhenock, Meli, Chungthang and Soreng are some of the key cities and towns in the state. → Sikkim has 28 mountain peaks, 84 glaciers, 227 lakes, five hot springs, and eight mountain passes – making it an ideal tourist location. The Teesta and the Rangeet are the two major rivers with nearly hundred tributaries. Parameters Sikkim Capital Gangtok Geographical area (sq km) 7,096 Administrative districts (No) 4 Population density (persons per sq km)* 86 → Sikkim is surrounded by vast stretches of Tibetan Plateaus in the North, the Chumbi Valley of Tibet and Total population (million)* 0.60 the Kingdom of Bhutan in the East, the Kingdom of Male population (million)* 0.32 Nepal in the West and Darjeeling district of West Bengal in the South. Female population (million)* 0.28 Sex ratio (females per 1,000 males)* 889 → Nepali, Bhutia, Lepcha, Limboo, Magar, Rai, Gurung, Sherpa, Tamang, Newari, Sunuwar (Mukhia) are the Literacy rate (%)* 82.2 commonly spoken languages. Hindi and English are Sources: Government of Sikkim Website, www.sikkim.gov.in, also widely spoken. *Provisional Data – Census 2011 For updated information, please visit www.ibef.org SIKKIM – AN INTRODUCTION 3 AUGUST Sikkim 2012 THE LAND OF PEACE AND TRANQUILITY Sikkim in Figures … (1/2) Parameter Sikkim All-States Source Economy GSDP as a percentage of all states’ GSDP 0.08 100 CMIE, 2010-11, current prices Average GSDP growth rate (%)* 21.7 15.9 CMIE, 2004-05 to 2010-11, current prices Per capita GSDP (US$) 2,036.6 1,324.3 CMIE, 2010-11, current prices Physical Infrastructure Installed power capacity (MW) 206.4 199,627.0 Central Electricity Authority, as of March 2012 Telecom Regulatory Authority of India, as of Wireless subscribers (No) 69,927,262^ 903,727,208 January 2012 Ministry of Communications & Information Broadband subscribers (No) 579,975# 13,350,938 Technology, as of December 2011 Ministry of Road Transport & Highways, National Highway length (km) 62 71,772 Annual Report 2011-12 Social Indicators Literacy rate (%) 82.2 74.0 Provisional Data – Census 2011 Birth rate (per 1,000 population) 17.8 22.1 SRS Bulletin (www.censusindia.gov.in), 2011 *Calculated in Indian Rupee Terms ^Including West Bengal and Andaman & Nicobar Islands #Including West Bengal SRS: Sample Registration System For updated information, please visit www.ibef.org SIKKIM – AN INTRODUCTION 4 AUGUST Sikkim 2012 THE LAND OF PEACE AND TRANQUILITY Sikkim in Figures … (2/2) Parameter Sikkim All-States Source Investment Department of Industrial Policy & Promotion, FDI equity inflows (US$ billion) 1.8* 160.0 April 2000 to January 2012 Outstanding Investments (US$ billion) 23.5 11,318.3 CMIE (2011-12) Industrial Infrastructure PPP projects (No) 31 881 www.pppindiadatabase.com *Including West Bengal and Andaman & Nicobar Islands PPP: Public Private Partnership For updated information, please visit www.ibef.org SIKKIM – AN INTRODUCTION 5 AUGUST Sikkim 2012 THE LAND OF PEACE AND TRANQUILITY Advantage Sikkim … (1/2) Natural Resources Sikkim is naturally endowed with rich flora and fauna. Its climate and topographical conditions support industries such as agriculture, horticulture, food processing, tourism and non-timber forest produce. Policy and Fiscal Incentives The state follows the North East Industrial Investment Promotion Policy, 2007, which provides several incentives and concessions for investment in the state. Institutional Support The state provides excellent institutional support through various central and State Government agencies viz., North East Council, Ministry of Development of North Eastern Region, Commerce and Industries Department. For updated information, please visit www.ibef.org SIKKIM – AN INTRODUCTION 6 AUGUST Sikkim 2012 THE LAND OF PEACE AND TRANQUILITY Advantage Sikkim … (2/2) Facilitating Infrastructure Sikkim is well connected by roads. Telecommunication connectivity compares with the national standards. Optical-fibre connectivity is being developed. Rail and air connectivity are also being developed in the state. Rich Labour Pool Sikkim has a high literacy rate of 82.2 per cent; with the establishment of Sikkim Manipal University and the Sikkim University, the quality and quantity of employable graduates has improved in the state. Stable Political Environment The state has a stable political set up with a single-party government. The State Government is committed towards creating a progressive business environment. For updated information, please visit www.ibef.org SIKKIM – AN INTRODUCTION 7 AUGUST Sikkim 2012 THE LAND OF PEACE AND TRANQUILITY Economic Snapshot – GSDP → At current prices, the total Gross State Domestic Sikkim’s GSDP Product (GSDP) of Sikkim was about US$ 1,240.2 million in 2010-11 . 2010-11 1,240.2 → The average GSDP growth rate between 2004-05 and 2009-10 999.8 2010-11 was about 21 .4 per cent. 2008-09 703.4 2007-08 622.8 2006-07 477.3 CAGR 21.4% 2005-06 450.1 2004-05 386.9 0 200 400 600 800 1,000 1,200 1,400 US$ million Source: CMIE For updated information, please visit www.ibef.org SIKKIM – AN INTRODUCTION 8 AUGUST Sikkim 2012 THE LAND OF PEACE AND TRANQUILITY Economic Snapshot – NSDP → At current prices, the total Net State Domestic Product Sikkim’s NSDP (NSDP) of Sikkim was about US$ 1,084.6 million in 2010-11 . 2010-11 1,084.6 → The average NSDP growth rate between 2004-05 and 2009-10 874.1 2010-11 , was about 21 .5 per cent. 2008-09 608.9 2007-08 531.7 2006-07 413.2 CAGR 21.5% 2005-06 391.5 2004-05 336.1 0 200 400 600 800 1,000 1,200 US$ million Source: CMIE For updated information, please visit www.ibef.org SIKKIM – AN INTRODUCTION 9 AUGUST Sikkim 2012 THE LAND OF PEACE AND TRANQUILITY Economic Snapshot – Per Capita GSDP → The state’s per capita GSDP in 2010-11 was US$ 2,036.6 Per Capita GSDP as compared to US$ 683.6 in 2004-05. 2,200 2,036.6 2,000 → Per capita GSDP has increased at a CAGR (Compound 1,800 CAGR 1,658.1 Annual Growth Rate) of 19 .9 per cent between 2004- 1,600 19.9% 05 and 2010-11 . 1,400 1,182.2 1,200 1,061.0 1,000 US$ 785.5 821.6 800 683.6 600 400 200 0 Source: CMIE For updated information, please visit www.ibef.org SIKKIM – AN INTRODUCTION 10 AUGUST Sikkim 2012 THE LAND OF PEACE AND TRANQUILITY Economic Snapshot – Per Capita NSDP → The state’s per capita NSDP in 2010-11 was US$ 1,780.9 Per Capita NSDP as compared to US$ 593.8 in 2004-05. 2,000 1,780.9 1,800 → The per capita NSDP increased at an average rate of 20 1,600 CAGR per cent between 2004-05 and 2010-11 . 1,449.7 1,400 20.0% 1,200 1,023.5 1,000 905.8 US$ 800 711.2 593.8 683.2 600 400 200 0 Source: CMIE For updated information, please visit www.ibef.org SIKKIM – AN INTRODUCTION 11 AUGUST Sikkim 2012 THE LAND OF PEACE AND TRANQUILITY Economic Snapshot – Percentage Distribution of GSDP → At a CAGR of 27.6 per cent, the secondary sector has Percentage Distribution of GSDP been the fastest growing among the three sectors CAGR from 2004-05 to 2010-11 . It was driven by 100 manufacturing, construction and electricity, gas & 90 80 water supply. 50.7 70 52.6 20.9% 60 → In 2010-11 , the tertiary sector contributed 50.7 per 50 cent to the state’s GSDP at current prices. It was 40 followed by the secondary sector at 38.3 per cent and 30 28.7 38.3 27.6% primary sector at 11 .0 per cent. 20 10 18.7 11.0 11.3% → The tertiary sector grew at a CAGR of 20.9 per cent 0 between 2004-05 and 2010-11 . The growth has been 2004-05 2010-11 driven by trade, hotels, real estate, finance, insurance, Primary Sector Secondary Sector Tertiary Sector transport, communications and other services. Source: CMIE → The primary sector grew at a CAGR of 11 .3 per cent between 2004-05 and 2010-11 . For updated information, please visit www.ibef.org SIKKIM – AN INTRODUCTION 12 AUGUST Sikkim 2012 THE LAND OF PEACE AND TRANQUILITY Economic Snapshot – Agriculture Production → Agriculture sector contributed around 10 per cent to Annual Production as the GSDP of Sikkim in 2010-11 . Crop of 2009-10 (‘000 metric tonnes) → Maize, rice, orange, oil seeds, pulses, wheat, tea and spices are the key agricultural products of the state. In Maize 64.6 2009-10 , the total food grain production in the state Rice 20.9 was 106,570 tonnes. Mandarin Orange 17.1 Oil-seeds 8.2 → Sikkim is one of the top producers of large cardamom, contributing 85 per cent to the total produce of the Pulses 6.0 country. Buck Wheat 5.0 → Sikkim aims to make the state’s farming fully organic Cardamom Large 2.7 by 2015. Organic farming demonstrations have been made in over 3,000 hectares (ha) of land and bio- Source: Sikkim Agrisnet, Annual Progress Report 2009-10 fertilisers have been introduced in 5,340 ha. A bio- fertiliser manufacturing unit has also been set up. → The Sikkim AGRISNET is an internet-based agriculture information centre to promote scientific agricultural methods and convert research into practice in the agricultural sector.
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