With a large forest cover, rich biodiversity and abundant water bodies, Meghalaya is bursting with opportunities for the entrepreneurship inclined. This beautiful ‘abode of clouds’ with its high mountains, deep gorges and plentiful rains, also holds immense hydroelectric potential. But the low level of industrialization and the relatively poor infrastructure acts as a major barrier to the utilization of these resources in the interest of economy.
Scheme of Self Employment for the Educated Unemployed Youth:
The Prime Minister’s Employment Generation Programme (P.M.E.G.P.) was introduced by merging the two schemes that were in operation till 31.03.2008 namely Prime Minister’s Rojgar Yojana (PMRY) and Rural Employment Generation Programme (REGP) for generation of employment opportunities through establishment of micro enterprises in rural as well as urban areas.
District Industries Centre Programmes
The innovative scheme was introduced by the Government of India to provide all facilities to entrepreneurs under a single roof.
Under the scheme, each district of the state will have a fully functional District Industries Centres (D.I.Cs) manned with managerial expertise in different streams.
The DICs do appraise and sponsor normal industrial loan cases to financial institutions, for long term loan and to the commercial banks for short term lending for working capital requirements
Meghalaya Tourism Development and Investment Promotion Scheme 2012
Under this scheme, assistance is provided to create tourism related ventures in the form of resorts and home-stays. The cost of the project should be within Rs 16.00 Lakhs for home stays and within Rs 100.00 Lakhs for resorts. In case the project cost is above Rs 16.00 Lakhs for home stays and above Rs 100.00 Lakhs for resorts the assistance would be limited to 30% of the amount of Rs 16.00 Lakhs for home stays and 30% of the amount of Rs 100.00 Lakhs for resorts. The entrepreneur should own the land for the project in case of Resorts and should be the owner of the property with built up house in case of homestays.
Scheme of Technology Upgradation/Setting up /Modernisation /Expansion of Food Processing Industries
Grant of 33% of the cost of plant & machinery and technical civil works subject to a maximum of Rs.75 lakhs in general areas and 33% up to Rs.75 lakhs is provided by Banks/SIDBI under this scheme.
Training of Rural Educated Youth for Self Employment in Farm Based Activities
This scheme is to open opportunities for rural educated unemployed youths to take up agriculture as an enterprise for gainful employment. Trainees will be assisted with seed money to start their respective ventures on successful completion.
Swarna Jayanti Shahari Rozgar Yojana (SJSRY)
The Swarna Jayanti Shahari Rozgar Yojana (SJSRY) seeks to provide gainful employment to the urban unemployed or underemployed poor through encouraging the setting up of self-employment ventures or provision of wage employment. This programme relies on creation of suitable community structures on the UBSP pattern and delivery of inputs under this programme shall be through the medium of urban local bodies and such community structures. The Swarna Jayanti Shahari Rozgar Yojana shall consist of two special schemes, namely-
(i) The Urban Self Employment Programme (USEP)
(ii) The Urban Wage Employment Programme (UWEP)
Entrepreneurial Motivation Programmes (EMPs)
The Industries Department organizes Entrepreneurial Motivation Programmes (EMPs), Entrepreneurial Motivation Developments (EDPs) and Investment Awareness Programmes at identified growth centers throughout the state. It also provides vocational Departmental Training.
1. Meghalaya Institute of Entrepreneurship facilitates rapid economic transformation, by imparting entrepreneurship education and promoting micro and small enterprises involving the youth, women and other critical target groups in the State.
2. 6 month certificate course on Developing Managerial Skills for Entrepreneurs, IIM, Shillong http://www.iimshillong.in/
3. Post Graduate Diploma in Entrepreneurship, The School of Education,
North-Eastern Hill University, Shillong http://www.nehu.ac.in/Schools/Education/Distance%20Education/course.php
In Summary – Meghalaya and Entrepreneurship:
Despite the slow rate of growth, in recent years Meghalaya has pioneered a unique initiative to encourage and nurture the youth of the State to become entrepreneurs. The Meghalaya Basin Development Authority (MBDA) and under it, the Meghalaya Institute of Entrepreneurship (MIE) have reached out to educate and skill many young people, who have picked up the gauntlet to stand on their own feet, and create a successful business future for themselves!
To know more about how Meghalaya is building a vibrant entrepreneurship ecosystem, click here.
Data Sources for Meghalaya:
Note: Policy details provided here are for the purpose of information only. Please verify the latest information from the relevant Government or MSME website of the state. Other data and information is curated from various websites and public documents. In case you have any corrections, additions, or suggestions, please share the same with us, and we’ll be happy to incorporate them here.