NEW DELHI, May 20 — Meghalaya has emerged as one of India’s fastest-growing state economies over the past five years, posting a five-year nominal GDP compound annual growth rate (CAGR) of 15.3%, according to a report by wealth management firm Client Associates. The report notes this rate exceeds the national five-year nominal GDP average of 14.78% (through FY25), though it adds that Meghalaya’s growth is from a relatively smaller economic base.
Client Associates highlights that capital investment in Meghalaya has increased fourfold since 2018, and that the state’s startup ecosystem has expanded under the Chief Minister’s PRIME (Promotion and Incubation of Market-driven Enterprises) initiative, which the report says has funded hundreds of local entrepreneurs and generated thousands of jobs. In the technology sector, the Shillong Technology Park is now fully operational and attracting global firms, while major infrastructure projects have helped boost tourism-Meghalaya is targeting two million visitors by 2028.
The study also flags strong growth elsewhere in the Northeast: Assam registered the fastest nominal GDP growth among large states with a five-year CAGR of 17.3%, driven by improved road and bridge connectivity funded centrally, growth in tea and agro-processing, and a better investment environment. Even ethnic violence-hit Manipur recorded nominal GDP growth above 15.04% over the same period, the report said.
Despite these high-growth pockets, the report underlines that a handful of larger states-Maharashtra, Karnataka, Tamil Nadu, Uttar Pradesh and Gujarat-still account for nearly 48% of India’s GDP. It describes the five-year nominal CAGR data as presenting a more “democratised” picture of economic expansion, suggesting structural catch-up growth across smaller and mid-sized states.
Uttar Pradesh posted a 15.3% five-year nominal CAGR, which the report attributes in part to reforms such as the NIVESH MITRA single-window portal, land record digitisation, and expansion of logistics and defence manufacturing infrastructure. Client Associates, founded in 2002 as India’s first multi-family office by two private bankers, is India’s largest multi-family office, the report notes.
Original Source: https://theshillongtimes.com/2026/05/21/meghalaya-among-indias-fastest-growing-state-economies-study/
Category: MEGHALAYA,NATIONAL
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Publish Date: 2026-05-21 03:14:00
