Meghalaya Cabinet gives nod to Industrial Investment Policy
Mar 12, 2024
Shillong (Meghalaya) [India], March 12 : Meghalaya Cabinet on Tuesday approved the state's Industrial Investment Policy, IT Promotion Policy and the creation of Technology Parks, said Chief Minister Conrad Sangma.
"The cabinet today passed different agenda including Meghalaya Industrial Investment Policy, Meghalaya IT/ITeS Promotion Policy, 2024 and Creation of the Meghalaya Technology Parks," Sangma posted on X on Tuesday.
The Chief Minister said that the industrial and investment promotion policy will be the new growth catalyst with a vision to empower Meghalaya's economic landscape to foster industrial development, harness local potential, and create a vibrant business hub to contribute towards overall holistic growth.
"In light of the new industrial policy of the Government of India, our policy aligns with the new policy so that incentives can be leveraged. Meghalaya IT/IT enabled services Promotion Policy 2024 will provide an environment which will attract investors to the State of Meghalaya and generate employment for the citizens of the State," Sangma said on X.
He said that the government had come up with this policy to streamline the investment process so that the maximum possible investment in the private sector comes to the state. He also said that this policy was in line with the central government policy and the state's objective of achieving a 10 billion dollar economy.
The Chief Minister said that the creation of the Technology Parks Society will enable the Government to professionally plan, develop, establish, promote, operate and manage the Technology Parks in the State.
"It will also promote the State as a preferred investment destination for ICT and electronics units in order to generate employment opportunities. The tender for the establishment of Tura IT Park has been issued," he added on X.
