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 reached Rs. 0.35 trillion (US$ 4.79 billion) in 2019-20. The state’s GSDP (in Rs.) increased at a CAGR of 6.74% between 2015-16 and 2020-21.
As of April 2021, Meghalaya had a total installed power generation capacity of 616.03 MW, comprising 354.53 MW from state utilities, 13.92 from private utilities and 247.58 MW from central utilities. Of the total installed power generation capacity, 409.27 MW was contributed by hydropower, 160.31 MW by thermal power and 46.45 MW by renewable power.
In FY21, passenger traffic at Barapani Airport reached 5,690 and aircraft movements at the airport stood at 146.
According to the Department for Promotion of Industry and Internal Trade (DPIIT), FDI (Foreign Direct Investment) inflows to Meghalaya** stood at US$ 122 million during April 2000 to September 2019. Total merchandise export from Meghalaya was around US$ 51.09 million in FY19. Total merchandise exports from Meghalaya stood at US$ 44.26 million in FY20. Exports from April to November 2020 reached US$ 3.37 million.
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:
- In May 2021, Chief Minister Mr. Conrad Sangma informed that the Central Government has approved prospecting licence for coal mining in the state.
- In November 2020, the Government of India, the Government of Meghalaya and the World Bank signed a US$ 120-million project to improve and modernise the state’s transport sector.
- In November 2020, Meghalaya government held a dialogue with the Israel government to set up Centres of Excellence for Agriculture and Horticulture in the state.
- In FY21, Meghalaya Farmers Mobilisation Project will be implemented at a cost of Rs. 5.12 billion (US$ 69.55 million) over a five-year period. Programmes will be launched for the establishment of cluster-based, farmer owned and farmer-operated markets.
- Under the Budget 2021-22, the government allocated Rs. 1,080 crore (US$ 147.13 million) for development of roads and bridges.
- Under the Budget 2021-22, the government allocated Rs. 820 crore (US$ 111.53 million) for the health and family welfare department.
- Under the Budget 2021-22, the government allocated Rs. 980 crore (US$ 133.43 million) for the education sector.
- Under the Budget 2021-22, the government allocated Rs. 559 crore (US$ 76.11 million) for the agriculture and allied services sector.
- Under the Budget 2021-22, the state government sanctioned Rs. 100 crore (US$ 13.63 million) for development of the state’s tourism sector.
- Meghalaya ranked as the fourth best performer in the implementation of Swadesh Darshan scheme.
- The state also has tremendous potential for tourism. In 2019, foreign tourist arrivals and domestic tourist visits in the state stood at 0.03 million and 1.25 million, respectively.
- Limestone production in Meghalaya stood at ~6.9 million tonnes in FY20.
Note: * - As per 2019-20 (3rd Adv. Est.), MW - Megawatt, **- includes Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura
