Best performing small state in economy: Sikkim
In 2021, Sikkim’s economy took the top spot among India’s small states.
When we talk about Sikkim’s economic health, a single data point is more than enough to show that it is a powerhouse—according to the state government, Sikkim’s per capita GSDP (gross state domestic product) is about Rs 4.86 lakh, roughly three times the national average.
Among all the small states of India Sikkim is also one of the fastest-growing states in the country, with its GSDP expanding at a CAGR (combined annual growth rate) of 15.86 per cent between 2015 and 2020.
In 2019-20, the secondary sector contributed 62.78% to the state’s GSVA at current prices. It was followed by the tertiary sector at 27.02% and primary sector at 10.20%. Moreover, at a CAGR of 16.76%, the primary sector has been the fastest growing among the three sectors between 2011-12 and 2019-20.
GDP of Sikkim increased from 1.12 million INR, lakhs in 2011 to 3.27 million INR, lakhs in 2020 growing at an average annual rate of 12.82%.
Sikkim had total installed power generation capacity of 677.83 MV of which 169.65 MW was under the central sector, state utilities (412.11 MW) and private sector (96.07 MW). Of the total installed power generation capacity, 105.65 MW was contributed by thermal, 520.00 MW by hydro and 52.18 MW by renewable energy.
Sikkim is the only state which is rapidly developing it’s economic sector as it is the only state which offers excise benefits and major players from the pharmaceutical industry have set up their manufacturing units in the state. Few of these are Cipla, Sun Pharma, Zydus Cadila, Alembic, IPCA, Alkem Lab, Intas Pharma, Torrent Pharmaceuticals, and Unichem.
