Meghalaya targets $10 billion growth, focus on startups and jobs
CORRESPONDENT
SHILLONG: Meghalaya Chief Minister Conrad K. Sangma on Friday underscored the state’s impressive economic growth and entrepreneurial momentum while attending the launch of PROBITES and the Future Founders Felicitation at St. Anthony’s College, Shillong. Organized by the St. Anthony’s College Centre for Entrepreneurship, Innovation and Incubation (SAC CEII) in collaboration with PRIME Meghalaya, the event celebrated student-led start-ups and innovations shaping Meghalaya’s future economy.
Highlighting the state’s economic performance, the Chief Minister revealed that Meghalaya’s Gross State Domestic Product (GSDP) has grown from $4.4 billion in 2018 to $6.6 billion today, with a target of $10 billion (Rs 85,000 crore) by 2028. He outlined ten key sectors driving this growth including entrepreneurship, tourism, agriculture, culture, and infrastructure emphasizing the state’s inclusive and sustainable development goals.
“While we grow as an economy and target $10 billion by 2028, we must commit ourselves as a government to ensuring that growth includes housing for all, connectivity and mobility, affordable healthcare, drinking water, power supply, and an empowered economy,” said Sangma.
The Chief Minister lauded SAC CEII and St. Anthony’s College for promoting innovation through ventures like PROBITES, a probiotic-based health food product developed by alumni Banraplang Nongphud, Sachen M. Sangma, and Shanborlang Sunn. The product, rooted in biochemistry research, blends science and entrepreneurship to promote wellness.
Sangma also detailed Meghalaya’s financial transformation, noting that the state budget has tripled over the past seven years. “Out of the 80% (loan from external agencies), only 10% is the share that we, as a state government, have to pay, while 90% is repaid by the Government of India. So, this is not really a loan,” he clarified.
Focusing on employment generation, he projected that the tourism sector alone could create 60,000 jobs by 2028. “We have broken down every sector to achieve the $10 billion economy,” he stated. The Chief Minister also spotlighted women’s empowerment through Self-Help Groups (SHGs), which have increased from 5,800 in 2018 to 51,000 today.
Touching on arts, culture, and youth engagement, Sangma cited initiatives such as the Meghalaya Grassroots Music Program, film, theatre, and sports development projects. “Youngsters require activity and engagement. They need to be busy, and we felt that music, arts, and sports provide an excellent avenue,” he observed.
Emphasizing technology-driven growth, he mentioned Meghalaya’s collaboration with Nvidia to set up AI and quantum computing labs, adding that entrepreneurship remains central to his vision for youth development. “I was clear that if there is one thing I want to promote for the youth, it is entrepreneurship. That’s why we started the PRIME program. If you want to start a business and take a risk, now is the time,” he urged.
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