Trade Analytics

Industrial Development & Economic Growth in Meghalaya

Latest update: December, 2019

Economic Snapshot
Per capita Income

 

December, 2019

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 14,634 and 400, respectively, during April-October 2019.

The state had an installed hydroelectric power capacity of 394.27 MW at the end of November 2019. 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 June 2019, stood at US$ 122 million. Total merchandise exports from Meghalaya were US$ 51.09 million in FY19. Merchandise exports during April-September 2019 reached US$ 22.52 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:

  • Under Budget 2019-20, the state government proposed an allocation of Rs 188 crore (US$ 26.89 million) for urban development.
  • As per State Budget 2019-20, there are two hydro projects currently under implementation - Lakroh SHP (1.5MW) and Ganol HEP (3x7.5 MW) in which Lakroh has been completed and Ganol is expected to be commissioned by 2020.
  • Government of India has earmarked Rs 180 crore (US$ 27.93 million) for extension of runway at Barapani airport.
  • Under Budget 2019-20, the government allocated a higher amount of Rs 1,007 crore (US$ 144 million) for the education sector.
  • 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