Meghalaya is the largest producer of coal and limestone in North-East India.
Meghalaya is in the northeast of India. The state shares its border on the north and the east with Assam and on the south and the west with Bangladesh.
Meghalaya, with an average annual rainfall of 1,150 cm, receives the highest amount of rainfall in the country. The diverse range of soil types, including red-loamy and laterite, support various agricultural crops like rice, maize, pulses, oilseeds, cotton, jute, and mesta. The state has achieved success in the cultivation of non-traditional crops like tea, cashew nuts, oilseeds, tomato, mushroom, wheat, etc. During 2019-20*, the state produced 393.51 thousand tonnes of fruits and 75.38 thousand tonnes of spices.
At current prices, the gross state domestic product (GSDP) of Meghalaya is estimated at Rs. 0.46 trillion (US$ 5.68 billion) in 2023-24.
At current prices, the net state domestic product (NSDP) of Meghalaya reached Rs. 0.34 trillion (US$ 4.10 billion) in 2021-22.
At a CAGR of 46.92%, the tertiary sector was the fastest-growing sector among all sectors between 2011-12 and 2021-22. This was driven by trade, hotels, real estate, finance, insurance, transport, communications and other services. Primary sector, the second-largest contributor to Meghalaya’s economy, expanded at a CAGR of 6.23% between 2011-12 and 2021-22.
As of August 2022, Meghalaya had a total installed power generation capacity of 569.45 MW, comprising 354.53 MW from state utilities, 17.96 MW from private utilities and 196.96 MW by central utilities. Of the total installed power generation capacity, 409.27 MW was contributed by hydropower and 50.49 MW by renewable power.
In FY23 (until August 2022) passenger traffic at Barapani Airport reached 46,542 and aircraft movements at the airport stood at 1,234.
According to Department for Promotion of Industry and Internal Trade (DPIIT), FDI inflows in Meghalaya stood at US$ 1.09 million between October 2019-March 2023.
Meghalaya recorded US$ 8.26 million worth of exports in 2022-23. Total merchandise exports from Meghalaya stood at US$ 2.81 million in FY23 (until August 2022)
Natural resources, policy incentives and infrastructure in the state favour investment across tourism, hydroelectric power, manufacturing, and mining sectors. Minerals and mining, agriculture and horticulture and tourism have been identified as the thrust sectors for industrial development.
Some of the major initiatives taken by the Government to promote Meghalaya as an investment destination are:
Note: * - As per 2019-20 (3rd Adv. Est.), MW - Megawatt
UDAN 4.0, a scheme under the Ministry of Civil Aviation (MoCA), has invited bids for 6 underserved and 24 unserved airports/airstrips in the North-East states of India with a focus on connectivity to the region.
Ministry of Tourism has sanctioned 18 projects covering all the North Eastern States for Rs 1,456 crore (US$ 208.3 million) for development and promotion of tourism.
The two day Regional Conference on ‘Good Governance Initiatives,’ got underway at Kohima today. The Conference, held under the theme “Capacity Building / Technology / Best Practices by Aspirational Districts”, is being organized by the Department of Administrative Reforms and Public Grievances (DARPG) in collaboration with the Nagaland Government.