Meghalaya is located in India in the northeastern part. It is bounded to the northeast and north by Assam, southwest, and south by Bangladesh. Shillong is the state capital and is in Meghalaya's east-central.

Meghalaya was formed on carving from Assam two districts, the United Khasi, Garo, and Jaintia Hills. Meghalaya represents Megha, the clouds, and Alaya is the abode. This state is popular for its scenic beauty and the area is 8660 square miles.

The dominant economic activity is agriculture. The main crops are millet, rice, corn, pepper, potatoes, ginger, cotton, chilies, betelnuts, jute, fruits such as mangoes and oranges, and vegetables. 

The untapped natural resources in this state are plenty and include limestone, coal, feldspar, kaolin, gypsum, mica, quartz, bauxite, and other minerals. The sillimanite deposits are the best and account for all the output in India. Electricity is produced in the state through many hydroelectric power plants. Yet it imports power when rainfall is scarce.

 Predominantly, Meghalaya is an agrarian economy featuring a significant forestry industry. The service sector comprises insurance companies and real estate. Traditionally, an agrarian state is Meghalaya and its population of 70% is dependent on land. Even their industrial base has experienced a shift to the secondary sector from the primary.

 Meghalaya is a scenic state offering adventure tourism such as rock climbing, mountaineering, trekking and hiking, water sports, etc.

 List of the state schemes to start a new manufacturing unit 

Meghalaya does not have heavy industries. There are small-scale industries including plywood, cement, and foodstuff manufacturers. Meghalaya has great industrial potential as there is a small deposit base of base metals, bauxite, and sillimanite.

Meghalaya, like all other north-eastern states, relies on wood-based and wood industries. The mining sector contributes to the income of the state significantly and many private entrepreneurs are in this process.

The popular niches that are the best Meghalaya business for women especially are:

  • Ethnic fashion
  • Make handicrafts
  • Engage in retail
  • Become a beautician
  • Run a coffee shop

Business Loan schemes by the state government

The Commerce and Industries Department is working towards Meghalaya to ensure the state receives sustainable development. It is facilitating and provides essential market linkage between end buyers and entrepreneurs.

The Department is organizing industrial workshops and awareness programs, while it is also involved with the Apiculture mission working to achieve results. Besides it provides essential support to small, medium, and large enterprises.

The department offers at Government Institutes or government recognized Institutes short term courses joining hands with sponsors. They offer a stipend to local youths to undergo training in or outside the state.

Viewing the Meghalaya farmers project in FY21, there will be a Meghalaya Farmers Mobilisation Project implemented five years period at Rs. 5.12 billion. These programs will be for the cluster-based establishment of farmer-operated and owned markets.

The state incentives are provided by the Commerce and Industries Department for the Industrial setup and the Meghalaya few strengths worth mentioning are:

  • A large population speaks English
  • Several tourist attractions
  • Rich forest and bamboo reserves
  • Weaving and handloom skills acquired by the local community
  • Micro enterprises in handicraft, agricultural, handloom, and horticultural units have developed a good base.