Guwahati, Feb 28 – Assam Chief Minister Himanta Biswa Sarma announced that the state has received investment proposals worth ₹5,18,295 crore following the recently concluded Advantage Assam 2.0 Investment and Infrastructure Summit. The investment commitment, including agreements signed at the district level, represents nearly 80% of Assam’s projected Gross Domestic Product (GDP) of ₹6.43 lakh crore by March 2024.
Addressing the media, Sarma stated that the government would begin assessing these proposals in the new financial year. “Over the next six months, we will develop a roadmap for implementing these investments. A detailed agreement will follow after thorough scrutiny to ensure feasibility,” he said.
Investment Implementation and Challenges
While acknowledging that not all Memorandums of Understanding (MoUs) necessarily translate into actual investments, Sarma expressed optimism that at least 80% of the proposals would materialize, positioning Assam as a leading industrial hub in the country. He highlighted key challenges, including land availability, competitive incentives, and infrastructure support.“Providing land for investors is a significant hurdle since government-owned land is limited, and private land transactions are not straightforward. However, the signing of MoUs marks the beginning, and we will find solutions,” Sarma assured.
On incentives, the chief minister admitted that Assam might struggle to match richer states but emphasized the importance of government support for industrial growth. “We cannot offer incentives at par with wealthier states, but industrial development cannot happen without structured incentives and strong infrastructure. We will navigate this challenge strategically,” he said.
He also underlined concerns about power costs, stating that while Assam can procure electricity from the grid, maintaining affordability is crucial. “Power availability is not the issue, but tariffs must align with our budget,” he said.
Key Sectors and International Interest
The summit attracted investment proposals across multiple sectors, with a focus on manufacturing, hydrocarbons, green energy, medical infrastructure, education, and hospitality. Additionally, international participation was significant, with high-level business delegations from nine partner countries and representatives from Europe, Asia, Africa, and the Americas.“We couldn’t hold a roadshow in the United States due to its presidential transition, but we aim to do so in 2027, subject to central government approval,” Sarma mentioned.
The European Union, World Bank, and Asian Development Bank have also shown interest in collaborating on various projects in Assam.
Tata Semiconductor Plant as a Game-Changer
One of the summit’s biggest highlights was the ₹27,000-crore Tata semiconductor assembly plant at Jagiroad. Sarma described this as a turning point for Assam, generating nationwide interest in the state’s industrial potential. “The semiconductor plant sent shockwaves across the country, making industries take note and express interest in investing here,” he remarked.He attributed the summit’s overwhelming response to Prime Minister Narendra Modi’s direct appeal to industrialists to invest in Assam. “It’s rare for the Prime Minister to pitch for a specific state, but his commitment to Assam’s industrial development has instilled confidence among investors,” he added.
Focus on Workforce Development
Sarma stressed the government’s priority to build a skilled workforce and facilitate employment opportunities. He acknowledged the struggles of Assamese youth working under poor conditions in other states and expressed his intent to create job opportunities within Assam.“Young people from Assam have been the state’s ambassadors, spreading the message of peace, stability, and limitless opportunities. Our goal is to bring back those who have left and provide them with dignified employment,” he said.
Looking ahead, Sarma asserted that sustained efforts over the next four years would ensure investment success. “By the next Advantage Assam summit, the state will have firmly established itself among India’s leading industrial destinations,” he concluded.
