Shillong Technology Park

The Meghalaya Chief Minister Shri Conrad Sangma recently inaugurated the Shillong Technology Park. The main objective is to bring back the Meghalayans who left the state in search of job opportunities. Also, the park will create new job opportunities for the youths in the state.

Key Features of the Park

The park will support incubation centres. These centres will work in collaboration with the government and industries. The state government has sent invitations to companies in different parts of the country and also to companies in other countries to open their facilities at the park.

Park to use ISP approach

The park is designed based on plug and play model. The State Government is already using ISP approach in building the infrastructure of the state. It will use the same approach to develop the park. ISP is Infrastructure, Services and People. That is, Set up the infrastructure. Provide the required services. Empower the people to gain the benefits.

Funding of the park

The first phase of construction is to be funded by the Meghalaya State Government. The park will then adopt Public private partnership method for subsequent phases.

How will the park benefit the state?

70% of the Meghalayan population is below 35 years. There is huge potential in IT sector. There exists great demographic dividend in the state. This will help to use the skills of the youngsters in the IT sector.

Aim of the park

The main objective of the park is to provide multiple work options for the youth of the state. They should not think of moving out of the state looking for better opportunities. The state of Meghalaya is now building five star hotels and other urban luxury infrastructure. The state recently got the first freight train. This will create the right ecosystem for the development of the IT sector.

Need for the park

According to World Economic Forum, 50% of the employees in the world will require reskilling by 2025. This is mainly because of advancement in technologies. Further, the automation transforming jobs and pandemic are increasing the economic disruptions. The tech park will bridge this gap.

Month: Current Affairs - February, 2022

Category: Economy & Banking Current Affairs - 2024 • India Nation & States Current Affairs