From CK Nayak
NEW DELHI, May 15: Meghalaya’s economy has doubled over the last five years and the hill state has become one of the consistently fastest growing states in the country, Chief Minister Conrad K. Sangma announced on Friday.
“Capital investment has increased four times compared to what it was from 2018,” Conrad said while speaking at the curtain raiser conference of the NE Business summit here. The Gross State Domestic Product (GSDP) of Meghalaya for 2025-26 (at current prices) is projected to be Rs 66,645 crore, amounting to growth of 13% over 2024-25.
The state has been “consistently growing at the same pace for the last three to four years,” which, he noted, is critical for investor confidence. Meghalaya is considered to be the second fastest growing state in the country.
Highlighting the Meghalaya Industrial Promotion Policy which contributed to the high growth, Sangma said the State has rolled out “large incentives” for investors. He also underscored Meghalaya’s strong entrepreneurship ecosystem, stating that the State has consistently been recognised for having “the best ecosystem for entrepreneurs among the small states.”
The Chief Minister talked about the expanding IT ecosystem, noting that the State’s first IT Park is already “packed,” while the upcoming second IT Park has also witnessed overwhelming response from national as well as global industry leaders. The state is now moving towards further expansion, with additional IT infrastructure planned to create greater opportunities for the youth.
A high-level team of NASSCOM (National Association of Software and Service Companies) visited the state and was impressed by its IT growth. The apex non-governmental trade association and advocacy group for the technology and IT-BPM (Business Process Management) industry in India even booked most part of the IT Park.
Meghalaya is the only state in the country to sustain nearly 10% growth in real GDP for three consecutive years post-pandemic, Conrad said.
Its economy has grown from Rs 29,508 crore in 2018 to nearly Rs 60,000 crore in FY 2024–25, with the State targeting a GSDP of Rs 1.35 lakh crore by 2032.
Meghalaya’s infrastructure expansion over the past several years has also seen a significant growth, he said. Its growing profile in tourism, sports and the creative economy was also highlighted by him.
DoNER Secretary Sanjay Jaju, too, appreciated Meghalaya’s rapid development trajectory and reiterated the Government of India’s continued support towards infrastructure-led growth. Meghalaya is indeed one of the fastest-growing states in the country with a 13–14% growth rate and a doubling economy within five years, he said.
Meghalaya in general and its capital Shillong in particular are emerging centres for infrastructure, investment, tourism, and entrepreneurship, Jaju added.
