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Meghalaya Eyes Rs 8000 Crore Private Investment, Aims for $10 Billion Economy

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HT Digital,

Shillong, May 25: Meghalaya Chief Minister Conrad K Sangma has announced that the state is poised to attract significant private investments amounting to Rs 8000 crore, with the aim of bolstering its economy to reach the ambitious target of $10 billion. Speaking at a workshop on “Human Development Leadership Programme” in Tura, CM Sangma highlighted the positive outcomes of the state’s new industrial policy, which has fostered an environment conducive to business growth.

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Attended by district and block-level officers from Garo Hills district, the workshop served as a platform to discuss the state’s investment potential and policy reforms. Sangma acknowledged past hurdles in investment due to cumbersome procedures but emphasized that the new industrial policy streamlines processes, ensuring timely clearance of statutory requirements.

Significant investments totaling approximately Rs 4000 crore have already been secured in the past year, including ventures such as a Rs 2500 crore thermal power plant, ethanol production facilities, beverage industries, and a chain of five-star hotels.

In efforts to enhance IT connectivity, the government is in talks with Malaysian and Bangladeshi telecom companies to lay submarine cable lines, which would bolster the IT-enabled service sector. Sangma also highlighted upcoming hospitality projects, including five-star hotels in Shillong, Sohra, and Umiam, and a three-star hotel in Tura, all funded through private investments, aiming to stimulate economic growth and generate employment opportunities.

Furthermore, Sangma underscored the role of IT infrastructure in attracting companies to Meghalaya, citing the success of the Shillong IT Park, which has employed over 3000 youths directly and indirectly. He announced the upcoming second phase of the IT park, accommodating a 3000-seater capacity, with confirmed interest from companies in the US and Europe.

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The Chief Minister emphasized the state’s potential as an investment destination, highlighting the skilled workforce and conducive business environment. He reiterated the government’s commitment to economic growth through strategic investments in infrastructure, education, healthcare, power, and rural development.

Addressing healthcare concerns, Sangma mentioned efforts to reduce maternal mortality rates (MMR), which were previously high compared to the national average. He stressed the importance of concerted efforts by officials to improve the overall well-being of citizens while fulfilling their duties with purpose and vision.

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The Hills Timeshttps://thehillstimes.in/
Welcome to The Hills Times, your trusted source for daily news and updates in English from the heart of Assam, India. Since our establishment in 2000, we've been dedicated to providing timely and accurate information to our readers in Diphu and Guwahati. As the first English newspaper in the then undemarcated Karbi Anglong district, we've forged a strong connection with diverse communities and age groups, earning a reputation for being a reliable source of news and insights. In addition to our print edition, we keep pace with the digital age through our website, https://thehillstimes.in, where we diligently update our readers with the latest happenings day by day. Whether it's local events, regional developments, or global news, The Hills Times strives to keep you informed with dedication and integrity. Join us in staying ahead of the curve and exploring the world through our lens.
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