Shillong, May 20: A study has revealed that Meghalaya, geologically mineral rich and major logistic centre for trade with Southeast Asian market â€“ Bangladesh, Bhutan and Myanmar is attracting investment in food processing, horticulture, tourism and mineral based industries.
In 2020-21, the state attracted new investment projects worth Rs. 5636.5 million and the projects completed during the period were worth Rs. 1058 million.
This was revealed by the joint study conducted by the Medium Micro and Small Enterprise Export Promotion Council and technology firm Bill Mart FinTech on, â€œUnlimited growth opportunities for MSMEs and Start-Ups in Meghalayaâ€.
The study presented to the state government was released by MLA, AL Hek.
Hek who recently took over the chairmanship of MSMS EPC, Meghalaya to guide and help the institution for enhancing entrepreneurial skill, provides handholding and training on how to use technology for the growth of businesses.
Hek said that the food processing industry currently accounts for only 10 percent of the total agriculture produce of the state.
He stressed the need to expand the sector and added that the existing units are doing exceptionally well with markets outside the country.
Food processing has huge untapped potential in the state as it produces substantial quantities of oranges, peaches, pineapples, pears, guavas, plums and bananas.
It also grows plenty of potatoes, tapioca, bay leaves, ginger, maize and jackfruit. In addition, plantation crops, coffee, rubber, black pepper and areca nuts are also becoming important products.
Study also found that Meghalaya has achieved significant success in the cultivation of non-traditional crops like cashew nuts, oilseeds, tomato, mushroom, wheat and turmeric.
In 2019-20, the total food grains production registered 360.8 metric tons of food grains, 348.8 metric tons of cereals and 12 metric tons of pulses.