Advantage Assam attracted investments worth Rs 4.5 lakh crore, says CM Sarma

Guwahati, Feb 26 (IANS) The industrial landscape of Assam is set for a transformational shift with the grand success of the investment summit–Advantage Assam 2.0, which has attracted investments worth at least Rs 4.5 lakh crore.  

This announcement was made by Assam Chief Minister Himanta Biswa Sarma on Wednesday, signaling a significant leap forward in the state's industrial development.

“Sectors like hydrocarbons, which is our forte, and mines and minerals have attracted the most investment. We are now focusing on making Assam a developed industrial state like it was in 1947. Assam was the first industrial state of the country,” Sarma told reporters here.

The success of the summit highlights Assam's growing potential as an investment hub.

With its abundant natural resources, strategic geographic location, and progressive policies, the state has been steadily working towards establishing itself as a key player in India's industrial landscape.

The massive investment influx is expected to boost employment opportunities, infrastructure development, and overall economic growth in the region.

Reflecting on Assam's historical significance, the Chief Minister emphasised the state's past industrial glory.

"I don't want to compare with any other state or West Bengal; things are different. West Bengal was never partitioned after the country's partition, but Assam has been partitioned at least five times after Independence," he said.

This statement underscores the challenges Assam has faced over the decades, but also highlights its resilience and determination to regain its industrial prominence.

Industry experts believe that the renewed focus on hydrocarbons, mining, and minerals could pave the way for Assam to emerge as a powerhouse of industrial progress.

With significant investments pouring in, infrastructure projects are expected to gain momentum, attracting even more investors in the coming years.

As Assam embarks on this ambitious journey, the government's commitment to fostering a business-friendly environment will be crucial.

Initiatives such as simplified regulatory frameworks, policy incentives, and infrastructure enhancements are likely to play a key role in ensuring sustained industrial growth.

With Advantage Assam 2.0 setting the stage for an industrial revolution, the state is poised to reclaim its status as a leading industrial hub in India, ushering in a new era of prosperity and progress, the CM mentioned.

CM Sarma has earlier termed the Advantage Assam, the investment summit as a landmark event in Assam’s industrial journey. He said that with the blessings and esteemed presence of Prime Minister Narendra Modi, the Advantage Assam 2.0 Summit will mark a new era of growth and opportunity.

On this occasion, on behalf of the people of Assam, he extended his heartfelt gratitude to the Prime Minister.

The Chief Minister said that celebrating 200 years of Assam Tea, marks Assam’s industrial legacy. Referring to its history, Sarma said tea was the first major industry in Assam, discovered in 1823.

Stating the rich past of Assam's industrialisation, the Chief Minister said that the state has been a pioneer in India’s oil industry and coal was discovered in Assam as early as in 1847, which further propelled Assam’s industrial journey and laid the foundation for Assam’s sustained economic growth.

Sarma said that at the time of India’s independence, Assam was an economic front runner, enriched with tea, natural resources and hydrocarbon reserves with per capita income above the national average by 4 per cent. The Chief Minister mentioned that today under the visionary leadership of Prime Minister Narendra Modi, Assam has undergone a historic transformation.

He said: “The Prime Minister’s commitment has propelled Assam into a new era of rapid development and renewed optimism. He said that since 2014, over 2,324 km of National Highways have been constructed. Indian Railways has completed gauge conversion of 600 km of meter gauge lines.

"Moreover, Assam is now a catalyst for India’s aviation growth. State GDP is surging from 29 billion dollar in 2013–14 to 68.7 billion dollar in 2023–24, reflecting a growth of 12.4 per cent.”