Shillong, July 18: Meghalaya has emerged as the best-performing state among the Northeastern and hilly states on regulatory ease, according to NITI Aayog’s maiden Investment Friendliness Index (IFI), highlighting the state’s progress in creating a more investor-friendly regulatory environment.
The state scored 8.5 on the regulatory ease pillar, ahead of Nagaland and Tripura (8.2 each), Himachal Pradesh (7.9), Uttarakhand and Assam (7.7 each) and other hilly states.
According to the report, the regulatory ease pillar measures how state-level regulations influence investment decisions by assessing compliance requirements, transparency, predictability and investors’ perception of the regulatory environment.
It evaluates factors such as the time taken to start a business, the number of licences required, the efficiency of approvals for electricity and water connections, industrial land allotment, environmental clearances and the effectiveness of single-window systems. The index also considers investor feedback on regulatory processes, the efficiency of commercial courts and the time required to exit businesses.
NITI Aayog said states with streamlined and predictable regulatory systems reduce uncertainty and lower the time and cost of doing business, making them more attractive destinations for investment.
While Meghalaya was placed in the “Emerging Performers” category in the overall Investment Friendliness Index, its top ranking in regulatory ease suggests that reforms aimed at simplifying approvals and improving governance have begun to yield results. However, the report indicates that the state will need to strengthen other areas, including infrastructure, business climate and resources, to improve its overall investment competitiveness.
Also Read: ICFAI Meghalaya launches first research journal at national seminar on AI and digital marketing
Also Watch
Find latest news from every corner of Northeast India at hubnetwork.in, your online source for breaking news, video coverage.
Also, Follow us on
Twitter-twitter.com/nemediahub
Youtube channel- www.youtube.com/@NortheastMediaHub2020
Instagram- www.instagram.com/ne_media_hub
Download our app from playstore – Northeast Media Hub
, highlighting the state's progress in creating a more investor-friendly regulatory environment.){kind=link}