Meghalaya’s Rs 85,000 Cr Economic Vision: CM Sangma Calls for International Partnerships

Meghalaya’s Rs 85000 Cr Economic Vision: CM emphasized that to achieve target of Rs 85,000 cr, investments are vital.

Meghalaya known for its lush landscapes and rich culture, is embarking on an ambitious economic journey. Chief Minister Conrad K. Sangma has set a goal to transform the state into a Rs 85,000 crore economy.

A key part of this vision is to actively seek private investments and Foreign Direct Investment (FDI). At the 7th Act East Business Show 2025, Sangma highlighted the critical importance of international collaboration and investment to unlock Meghalaya’s economic potential.

The Act East Summit, organized in collaboration with the Indian Chamber of Commerce (ICC), Invest India, and the Meghalaya Investment Promotion Authority (MIPA), served as a significant platform to foster strategic partnerships between India and Southeast Asia.

The event, which took place from March 25 to 27, aimed to enhance economic and trade relations, particularly with the BBIN (Bangladesh, Bhutan, India, Nepal) and ASEAN (Association of Southeast Asian Nations) countries. This summit was a crucial step in positioning Meghalaya as a key regional hub for trade, culture, and industry.

Chief Minister Sangma emphasized that to achieve the target of Rs 85,000 crore, investments, both private and foreign, are vital. He outlined the state’s policy reforms, institutional frameworks, and a series of incentives specifically tailored to attract investors. Sangma emphasized that beyond policy reforms, implementation is crucial. “Real economic progress depends on implementation, not symbolic agreements,” he stated during the summit.

One of the central objectives of the event was to facilitate discussions and collaborations aimed at fostering growth in key sectors such as technology, agriculture, manufacturing, and tourism. These sectors are pivotal for the state’s development as they can create employment opportunities, enhance infrastructure, and strengthen Meghalaya’s position in the global economy.

Sangma also spoke about the importance of international support, particularly from Southeast Asian nations and the BIMSTEC region. He stressed the need for global investors and international agencies to engage with Meghalaya, allowing the state to leverage the economic opportunities it offers. “We need the support of investors from all across the world, and we are hopeful that a larger network will be set up,” Sangma said, underlining the importance of global cooperation in achieving the state’s economic goals.

Meghalaya’s growth strategy focuses on several core areas, including tourism, infrastructure development, and the expansion of micro, small, and medium enterprises (MSMEs). The state’s tourism potential is significant, with its picturesque landscapes, unique culture, and rich biodiversity. Infrastructure development is also a critical priority, with major projects already underway to improve connectivity, logistics, and urban development, making the state an attractive destination for investors.

Moreover, the state is focusing on the “concert economy” and sports development, aiming to create a robust ecosystem for both local and global stakeholders. With a growth rate of approximately 13%, Meghalaya is becoming an increasingly important player in the region’s economic landscape.

The Chief Minister highlighted that this growth is not just about figures but also about ensuring that the economic benefits translate into job creation and improved livelihoods for the people of the state.

The Act East Summit also sought to address the broader vision of achieving economic parity for the Northeast region by 2030. Sangma emphasized that this goal is a long-term process, and while Meghalaya may not be fully ready to tap into all opportunities immediately, significant strides have been made over the past six years.

“We are in a much better position today than we were many years ago,” he remarked, acknowledging the progress that has been achieved and the work still required to reach the state’s economic goals.

He further mentioned that while challenges remain, such as enhancing infrastructure, improving connectivity, and preparing local entrepreneurs for global competition, the state is in a “strong and very good position” to move forward. The Chief Minister reiterated the importance of continuous investment and policy refinement to ensure the state stays on track.

The Act East Business Show served as a crucial platform for dialogue between the state government, policymakers, industry experts, and diplomats. Sangma inaugurated the session, where high-ranking government officials and diplomats were present. The event was designed to showcase Meghalaya as an ideal investment destination and offered a focused exhibition to display potential investment opportunities and business synergies.

The summit marks another significant milestone in the state’s efforts to build lasting international partnerships. Through such engagements, Meghalaya is positioning itself as an economic powerhouse in the Northeast, fostering stronger ties with ASEAN and BIMSTEC countries and attracting investment that will lay the foundation for a prosperous future.

Meghalaya’s focus on attracting FDI and private investments, along with its forward-thinking reforms, is setting the stage for its ambitious goal of becoming an Rs 85,000 crore economy. The Act East Summit is just the beginning of what promises to be an exciting chapter in the state’s economic growth story, as it works towards realizing its full potential on the global stage.

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