By Our Reporter
SHILLONG, March 25: Amid ongoing debates over the investment policy, the Meghalaya government has made a strong push for economic engagement at the 7th Act East Business Show, which was inaugurated at the state convention centre here on Tuesday. The high-profile event, organised by Meghalaya Investment Promotion Authority (MIPA), comes at a time when concerns surrounding the state’s investment framework have sparked discussions. Nevertheless, Chief Minister Conrad Sangma seized the opportunity to highlight Meghalaya’s economic potential while advocating for a more nuanced approach to the Act East Policy.
With participation from diplomats, entrepreneurs, and government officials, the event underscored Meghalaya’s strategic position in India’s Act East Policy. However, Sangma argued that instead of a uniform approach, each Northeastern state should focus on international partnerships based on its distinct geographical and economic strengths.
Addressing a distinguished gathering that included ambassadors, business leaders, and policymakers, Sangma said a one-size-fits-all Act East policy may not serve the Northeast optimally.
“Meghalaya shares a long border with Bangladesh, making it a natural partner for trade and economic collaboration. Other states have stronger ties with Myanmar or Southeast Asian nations. We need to customise our approach to maximise economic benefits,” he said.
Sangma stressed that while the overarching vision of the Act East Policy is crucial, micro-level strategies tailored to each state’s strengths will be more effective in ensuring long-term success.
Highlighting Meghalaya’s robust economic growth, Sangma pointed out that the state’s GDP has been growing at 13.5% — outpacing the national average. This, he attributed to a combination of well-structured policies, institutional support, and strong political will.
“There is a process, there is a policy, and there are initiatives that have been taken to make that growth a possibility. We must dare to dream big and set ambitious goals for sustainable development,” he stated.
A multimedia presentation on Meghalaya as an investment destination, made by Dr Vijay Kumar D, Commissioner and Secretary, Planning, further reinforced the state’s business potential.
The presentation highlighted the state’s strategic roadmap, including upcoming infrastructure projects, investment incentives, and its vision of achieving a USD 10 billion economy.
International interest in Meghalaya’s economic landscape was evident throughout the discussions. German Ambassador to India, Dr Philipp Ackerman noted the growing interest of German companies in the Northeast, particularly in organic farming, food production, sustainable tourism, and skill development.
“Two thousand German companies — 59% of them — are planning new investments this year. Sixty-nine per cent recognise India’s consistent economic growth as a major advantage. The Northeast, with its organic produce and pristine landscapes, is a prime location for sustainable investment,” he said. Ackerman also emphasised Germany’s commitment to green energy, eco-friendly agriculture, and high-value tourism in the region.
Sangma underscored the need for balanced growth that integrates economic expansion with environmental and cultural preservation.
“For us, growth must come with sustainability. We must protect our environment, support our communities, and preserve our traditions and culture,” he said, while highlighting the role of Self-Help Groups (SHGs) and cooperative societies in ensuring that development is inclusive and holistic.
The three-day event is set to feature multiple roundtable discussions, B2B and B2G meetings, and strategic dialogues aimed at enhancing regional connectivity and trade. The attendees included Deputy Chief Minister and Minister of Commerce and Industries, Sniawbhalang Dhar, Chief Secretary Donald Phillips Wahlang and representatives from 14 countries, including Germany, Thailand, UAE, Indonesia, Australia, Bangladesh, Malaysia, Bhutan, Nepal, and the Philippines.