Chief Minister Conrad K Sangma announced Meghalaya is expected to attract significant private investments totalling ₹8,000 crore, propelling Meghalaya towards its goal of achieving a $10 billion economy.
Addressing the “Human Development Leadership Programme” workshop in Tura, CM Sangma attributed this surge in investments to the new industrial policy that has encouraged an ecosystem conducive to business growth. “The investment in Meghalaya is an outcome of the new industrial policy that has created an ecosystem for ease of doing business,” he stated.
The workshop was attended by Deputy Commissioners, Block Development Officers, and other district and block-level officers from the five districts of Garo Hills.
Discussing previous barriers to investment, CM Sangma noted, “The system was tedious and time-consuming. Our new industrial policy has provided a framework to give clearance to different statutory requirements within a specified time frame, which is facilitating investors.”
CM Sangma revealed that nearly ₹4,000 crore in investments have been secured in the past year. These include a ₹2,500 crore thermal power plant generating 450 megawatts of electricity, an ethanol plant, a beverage manufacturing unit, and a chain of five-star hotels.
Highlighting efforts to enhance IT connectivity, the Meghalaya CM mentioned ongoing negotiations with Malaysian and Bangladeshi telecom companies to lay submarine cable lines. “The optical fiber connection will further boost the IT-enabled service sector,” he said.
Besides, CM Sangma announced new five-star hotel projects in Shillong, Sohra, and Umiam, along with a three-star hotel in Tura, all funded by private investment. He asserted these projects will promote a business-friendly environment and create job opportunities for the youth.
“Hotels, air connectivity, and high-speed internet will encourage more IT companies to set up their enterprises in the state. The Shillong IT Park has provided jobs to more than 3,000 youth directly and indirectly, and many more companies have expressed their keen desire to set up BPOs in the State,” Sangma remarked.
He also mentioned that the second phase of the Shillong IT Park, which will accommodate 3,000 seats, has already been confirmed by IT companies from the US and Europe.
The CM highlighted Meghalaya’s appeal to companies seeking alternatives to traditional tech hubs like Bengaluru and Hyderabad. “Our people have good command over languages and work ethics, which is an added advantage,” he said.
Sangma outlined the government’s commitment to economic growth through substantial investments in infrastructure projects. “In the last five years, the government has charted a road map, making investments in different social sectors with a particular focus on education, health, power, and rural development,” he stated.
Addressing maternal mortality, Sangma pointed out that the maternal mortality rate (MMR) in Meghalaya was 223 compared to the national average of 113 in 2018. “Our approach to addressing the issue has ensured the overall well-being of mothers and children, leading to a decline in MMR,” he added.
He urged officials to work with purpose and a clear vision to improve the lives of the people while discharging their duties.
