Chief Minister Conrad K Sangma today said the government has identified ten key opportunities that are driving growth and employment under Mission 10, an ambitious plan to transform Meghalaya into a USD 10 billion economy by 2028.
In his budget speech, Sangma said the state need private sector investments amounting to at least $1 billion, or approximately Rs 8,500 Crore.
He mentioned about the Meghalaya Industrial and Investment Promotion Policy (MIIPP) 2024 that aligns with the Government of India’s Uttar Poorva Transformative Industrialization Scheme (UNNATI), providing incentives on capital investment, interest subvention, GST reimbursement, and green incentives for driving sustainability. A customized package of incentives is also available for investments above Rs 100 Crore and for industries with green patents, he said.
Sangma said the policy emphasizes employment opportunities for the local population wherein it mandates that 90 per cent of non-managerial positions and 50 per cent of managerial positions be filled by local people within three years of commercial operations by industrial units.
The Meghalaya Investment Promotion Authority (MIPA), established last financial year, he said, is now dedicatedly managing the investment promotion ecosystem. The State has further created a business-friendly environment through “Ease of Doing Business” initiatives, implementing 280 Business Reforms Action Plan reforms in 2025, up from zero in 2018.
The Single Window approval system has been revamped to streamline the setup of industries by decentralizing processes at various levels Sangma informed and said that the authority is also creating new land banks and developing State-of-the-Art industrial parks, the first such is being developed in Tikrikilla block of West Garo Hills in an over 633-acre land.
Sangma highlighted that Varun Beverages, is investing around Rs 300 Crore in a new plant for carbonated soft drinks and fruit-based beverages in Mendipathar, North Garo Hills that will create about 500 jobs and boost local suppliers and transportation companies.
He also informed that a project worth about Rs 124 crore to build, operate and transfer the Orchid Hotel in Shillong under the Public-Private Partnership was awarded to Lemon Tree Hotels while four new 5-star hotels and luxury resorts with a total investment of around Rs 900 Crore will be built at Umiam, Sohra, Mawdiangdiang and Khanapara through PPP mode.
Furthermore, two projects to develop luxury cottages with a total investment of around Rs 52 Crore have been finalised.
“With these, investments amounting to Rs 1,400 Crore have already been grounded, and investments worth Rs 2,000 Crore in sectors such as bamboo, hydropower, and tourism are in the pipeline for the next financial year,” he said.
Sangma said additional tourism infrastructure is planned around the Mawmluh Cherra Cements Limited which has been approved for closure after a onetime financial package of Rs 98.25 Crore has been sanctioned to safeguard the interest of the employees. He said the initial tranche of about Rs 40 Crore is being released this financial year and the government is allocating the balance amount of about Rs 58.25 Crore for the next financial year.
Under agriculture and high value horticulture, Sangma said the government is investing in targeted interventions towards meeting the goal of more than doubling farmers’ income. Several of these interventions are bearing results, leading to increase in income by 30 per cent to 80 per cent for the beneficiary farmers participating in government programs on mushroom, floriculture, strawberry, passion fruit, ginger, turmeric and more, he said.
Stating that public investments play a critical role for driving economic growth, in the absence of strong private sector, Sangma said the Government has embarked on a strategy of maximizing the fiscal space provided under the Fiscal Responsibility and Budget Management (FRBM) Act and leveraging all available grants and low-cost funds from the Government of India.
“Most of these funds are merit based and are allotted to States which have higher absorption and better implementation capacity,” he said.
He informed that Meghalaya’s performance in accessing reform-based funding under the Special Assistance to States for Capital Investment (SASCI) in the recent past has been noteworthy as the state has been able to leverage Rs 2,450 Crore in the current financial year under this program and the estimate for 2025-26 is Rs 2,695 Crore.
Sangma said Meghalaya has also achieved 19 per cent compounded annual growth in Centrally Sponsored Schemes in last eight years as the state is consistently amongst the best performing States in accessing funds under national flagship programs like Jal Jeevan Mission, Mahatma Gandhi National Rural Employment Guarantee Scheme, National Health Mission, National Rural Livelihood Mission and Pradhan Mantri Awas Yojana – Grameen.
The state has also been successful in availing Externally Aided Projects from agencies like World Bank, ADB and JICA. In 2018, Meghalaya was implementing five projects with a total funding support of Rs 2,502 Crore. Over the last seven years, 13 new projects have been approved at Rs 7,427 Crore. “I am estimating the expenditure under EAPs to reach a record high of Rs 1,426 Crore in 2025-26,” he said.
