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Industrial Development & Economic Growth in Meghalaya

Latest update: June, 2020

Economic Snapshot
Per capita Income

 

June, 2020

Meghalaya is located in the Northeast of India. The state shares its border on the north and east with Assam and on the south and 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.

Passenger traffic at Barapani during 2018-19 reached 12,482. Aircraft movement at the airport during 2018-19 stood at 551. Passenger traffic and aircraft movement at Barapani airport stood at 24,654 and 585, respectively, during April-January 2019-20.

The state had an installed hydroelectric power capacity of 401.47 MW at the end of February 2020. The potential for hydropower in Meghalaya is estimated to be around 3,000 MW.

According to the Department for Promotion of Industry and Internal Trade (DPIIT), FDI inflows to the North Eastern states during April 2000 to September 2019, stood at US$ 122 million. Total merchandise exports from Meghalaya were US$ 51.09 million in FY19. Merchandise exports during April-December 2019 reached US$ 31.22 million.

The natural resources, policy incentives and infrastructure in the state favour investments in the 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:

  • In Budget 2020-21, state government sanctioned Rs 400 crore (US$ 57.23 million) under Pradhan Mantri Gram Sadak Yojana.
  • Under Budget 2020-21, the state government proposed an allocation of Rs 199 crore (US$ 28.47 million) for urban development.
  • Government of India has earmarked Rs 180 crore (US$ 27.93 million) for extension of runway at Barapani airport.
  • Under Budget 2020-21, the government allocated a higher amount of Rs 1,050 crore (US$ 150.24 million) for the education sector.
  • Meghalaya ranked as the fourth best performer in the implementation of Swadesh Darshan scheme.
  • The state government is inviting investments in this area through the PPP mode. Independent power producers (IPPs) are also being invited to develop hydro projects in Meghalaya; this provides immense potential for investment
Meghalaya State Presentation

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Meghalaya Map

Meghalaya