Assam eyes investment boost with MoUs worth over Rs. 1.22 lakh crores during summit

Guwahati: Assam, which is trying to shed its tag of being an insurgency-hit state to attract investors, is set for an investment boost with the signing of the MoUs worth over Rs. 1.22 lakh crores for investments, during the Investment Summit, beginning on Tuesday.

The state cabinet on Sunday approved the MoUs to be signed with corporate groups as well as government agencies during the summit, Advantage Assam 2.0, to be inaugurated by Prime Minister Narendra Modi, in Guwahati.

Apart from the MoUs, the corporate groups like Tata Group, Ambani group, Adani Group and several others are also likely to make announcements for investments during the summit, Chief Minister Himanta Biswa Sarma said.

"These investments are above Rs. 50 crores. Apart from these, MoUs worth Rs. 15,911 crores for investments worth between Rs. five lakh and 50 crores will also be signed at the district levels. The investment will provide us a big boost to promote our state to attract big investors to set up companies here, create jobs and help in the state's development," Sarma said.

The summit will discuss opportunities in key sectors such as tourism, renewable energy and hydrocarbons, electronics and semiconductor, aerospace and defence manufacturing, fragrance and flavours, mobility and logistics, bamboo and sustainable harvest and food and beverages.

There will be 20 thematic sessions which will bring together industry leaders, subject matter experts, and government officials to discuss key growth opportunities. Sessions will focus on healthcare, green gold revolution, tourism, start-ups, and other transformative themes, fostering strategic collaborations.

Tense past behind:

The BJP-led government says the investors have shown interest given the fact that Assam has put its past as a militancy-affected state behind by signing agreements with most of the unlawful groups, since 2020. The state government said the problem of agitation has also significantly come down with no group calling state-wide bandh in the past three years. Efforts to attract investments in the past did not make much progress, mainly due to the problem of insurgency and agitations.

But the decision by Tata Electronics to set up a semiconductor assembling plant at Jagiroad near Guwahati has come as a ray of hope for the state to attract other business groups to set up industries in the state. The plant is likely to be operational soon.

Countries like Japan, Singapore, Australia, Thailand and others are partner countries while several others will take part in the summit that seeks to project the state. Foreign Minister S. Jaishankar on Monday accompanied heads of mission of 45 countries to Kaziranga National Park in order to apprise about the improvement in the law and order situation in the state and increase in the number of tourists, both domestic and foreign.

"The response has been very encouraging," Jaishankar told reporters on Monday. Finance Minister Nirmala Sitharaman, Ports and Shipping Minister Sarbananda Sonowal, besides others will also take part in the two-day event.