Shillong, Nov 12: The Meghalaya government is stepping up efforts to attract investments, strengthen financial management and create employment opportunities under Mission 10, which aims to build a $10-billion economy by 2028.
The target was highlighted at a state-level conclave organised by the Institute of Cost Accountants of India (ICMAI) in collaboration with the Commerce and Industries Department at the State Guest House in Shillong on Thursday.
Commissioner and Secretary B D R Tiwari said the state was recording an economic growth rate of over 12 per cent, while its gross state domestic product (GSDP) had grown by around 20 per cent over two years. Meghalaya’s economy, he added, had more than doubled over the past decade.
He said the state had considerable growth potential because of its strategic location and natural resources.
Former IAS officer Peter Watre Ingty identified tourism, mining, forestry, organic agriculture and horticulture as key sectors that could drive economic growth.
He pointed to the growing market recognition of products such as pineapple, orange, ginger and Lakadong turmeric, while highlighting opportunities in tourism, hospitality, IT, infrastructure, food processing, handloom, handicrafts and renewable hydropower.
On the state’s financial position, Ingty said Meghalaya continued to depend heavily on Central transfers and grants-in-aid, with its own tax and non-tax revenue accounting for less than 25 per cent of total receipts.
He said Cost and Management Accountants could play an important role in improving public expenditure, financial planning and accountability. He also stressed that investment projects must respect local sentiments and protect the state’s ecology.
Economic Adviser to the North Eastern Council Secretariat Sherry Lalthangzo said the NEC’s Vision 2047 aimed to increase Meghalaya’s per capita income from Rs 1.7 lakh to Rs 3.1 lakh through targeted interventions to strengthen livelihoods and economic opportunities.
She highlighted the potential of organic farming and region-specific products, including Lakadong turmeric from Meghalaya, ginger from Mizoram and pineapple from Tripura.
Executive Director of Asian Confluence Sabyasachi Dutta stressed the importance of preparing young people to contribute to the vision of Viksit Bharat 2047 and Viksit Meghalaya.
He outlined ICMAI’s 2026–27 roadmap, which focuses on public financial management, performance audits, cost governance, infrastructure, energy, manufacturing, MSMEs and entrepreneurship.
In another development, ICMAI signed an MoU with Global University Eternal to promote academic collaboration, professional courses and joint programmes for students.
