The Meghalaya Economic Development Council (MEDC) was constituted by a resolution passed by the Meghalaya Legislative Assembly in its sitting on the 18th September, 1995, and the same has been notified by Parliamentary Affairs Department by an extraordinary gazette vide No.PA.21/95/16 dt.20th September, 1995 and amended vide Notification No.PA.11/2005/Pt.I/5 dt.25th April, 2006, No.PA.11/2005/Pt.I/13 dt.12th July, 2006 and No.PA.11/2005/Pt.I/38 dt.25-6-2007.

Constitution

The body may consist of the following whose terms will be generally for two years or till they continue in the designated Office, excepting in respect of members covered by (d) and (e) the initial terms of with one year:-

1. Four persons to be nominated by the Chief Minister, one of whom may be nominated as Chairman in the rank and status or Chief Minister/Deputy Minister/Minister and the other as Co-Chairman in the rank and status of a minister of Vice/Deputy Chairman in the rank and status of a minister of State as considered necessary from time to time.

2. Not more than one Member of the Legislative Assembly drawn from each political party represented in the State Assembly to be nominated by the respective parties;

3. The Chief Executive Member of the Autonomous District Councils;

4. Five local entrepreneurs to be nominated initially by the Chairman and later by that body;

5. Not more than three persons with known contribution in the field of business, industries , and commerce to be nominated initially by the Chairman and later by that body.

6. Two heads or representatives from reputed research and academic institution working in the State to be nominated by the State Government by notification;

7. One member each of the State Planning Board, Meghalaya Resource and Employment Generation Council and the Meghalaya Industrial Development Corporation to be nominated by the respective bodies; and

8. The Principal Secretary or the Commissioner and Secretary or the Secretary to the State Government in the Planning Department as Member Secretary.

The terms of reference of the Council shall be as follows :-

1. To advise the State Government on issues relating to the industrial and economic policies.

2. Deliberate and examine the constraints inhibiting flow of investments into the State and possible steps for removal thereof.

3. Identify sectors where overall economic and industrial growth can be generated and accelerated.

4. Suggest ways for attracting investments, local and foreign in the State.

5. Advise and recommend the strategies for achieving the aforesaid goals.

Aims & Objectives:

1. To promote the Economic and Industrial Development of the State and its people.

2. To mobilize resource, encourage the flow of investment and private participation.

3. In the wake of liberalization , to take advantage of the opportunity with a view to exploit easy and means for accelerating the process of Economic and Industrial Development of the State.