Shillong, Nov 27: The state government has approved amendments to the Meghalaya Investment Promotion Policy, aimed at simplifying procedures and promoting local industries.
Informing this, Chief Minister Conrad K Sangma on Wednesday said the changes include redefining micro enterprises, reducing the investment limit from Rs 50 lakh to Rs 10 lakh to benefit local entrepreneurs.
The amendments also ensure continuity of benefits for investors who set up units during the gap period between the old industrial policy and the new MIIPA policy.
“We have made basic amendments to streamline our policy and bring our policy at par with what is happening in the rest of country and what is happening in especially in the North Eastern States,” Sangma stated.
According to him, the changes aim to boost investor confidence and promote investment in the state.
