Highlight: Investment commitments, international partnerships, and major infrastructure projects set to transform Assam into an industrial powerhouse
Guwahati, Feb 28: The Advantage Assam 2.0 Investment and Infrastructure Summit has secured investment commitments worth ₹5.18 lakh crore over the next five years, accounting for nearly 80% of Assam’s projected GDP of ₹6.43 lakh crore for the 2024-25 fiscal, Chief Minister Himanta Biswa Sarma announced on Friday.
Addressing a press conference, Sarma highlighted that the two-day summit, held in Guwahati on February 25-26, saw participation from 33 EU delegates, 128 from Asia, 22 from Africa, 8 from North Korea, and 6 from South Korea.
However, the U.S. remained underrepresented due to political transitions. Sarma mentioned that after the signing of the Indo-American treaty, Assam plans to organize a massive roadshow in the U.S. in 2027 to attract investment.
“For the first time, Assam signed MoUs with international agencies across various sectors, including ₹410 crore in industry, ₹310 crore in Animal Husbandry, ₹228 crore in Environment & Forest, ₹444 crore in Health sector, ₹2,250 crore in mining, and ₹220 crore in transport sector,” Sarma said.
Sarma said a six-month roadmap will be prepared for implementing these MoUs, to execute at least 70%, which could position Assam as a key industrial hub. Sarma projected that these investments would generate employment for at least two lakh youths.
“Assam is emerging as a key player in cement production, driven by major dam construction projects in Arunachal Pradesh. Additionally, the state is focusing on bamboo research to promote a sustainable and green economy,” he said.
Several large-scale infrastructure and industrial projects were announced at the summit, From government initiatives BVFCL Namrup project at the cost of ₹12,000 crore (announced by PM Narendra Modi), Guwahati Railway Station Upgradation & IT Park: ₹300 crore, Mega Wagon Workshop (Basbari, Kokrajhar) & Locomotive Rehab Facility (Lumding), new railway line (Kokrajhar-Gelephu, Bhutan) for ₹3,500 crore, railway packages for ₹7,200 crore (Railway Minister), ₹2,000 crore telecom package (Union Minister Jyotiraditya Scindia).
Similarly, ONGC will invest ₹15,000 crore in oil and gas exploration, OIL will spend ₹25,000 crore, and Vedanta Group will invest ₹50,000 crore.
JSW Group is also keen to set up 600-800 MW thermal power plant in the state.
Jyotiraditya Scindia announced Rs 1800 crore for telecom connectivity. That includes the launch of a 5G Lab at Gauhati University to foster research and skill development in next-generation telecom technologies, including 5G and beyond.
Further, in the presence of Minister Hardeep Puri, MoU worth Rs 5,000 crore for city gas project was signed between Adani Total Gas Ltd and the Assam government. Another MoU with ONGC worth Rs 15,000 crore was exchanged.
Sarbananda Sonowal announced the establishment of the Centre of Excellence for Maritime Skilling in Dibrugarh, besides an investment of Rs 4,800 crore in the next 5 years in Inland Waterways.
Nitin Gadkari announced Rs 80,000 crore for several important infrastructure projects.
The Chief Minister said the corporate giant Mukesh Ambani (Reliance) is keen to invest ₹50,000 crore in AI, digital transformation, green energy, small nuclear reactors, and a hyperscaler data centre.
Tata Group is keen to invest ₹30,000 crore in a mobile manufacturing unit in Assam, in addition to investments in solar and nuclear power and luxury hotels in Guwahati, Jagiroad, and Kaziranga.
Adani Group is also keen to invest ₹50,000 crore for Guwahati airport expansion and an aero city development.
Singapore-based Greenco is keen to invest in setting up a sustainable aviation fuel hub in the state.
“Additionally, the MSME sector signed MoUs worth ₹67,074 crore, ensuring support for smaller enterprises.
Sarma concluded that these investments will position Assam as a top industrial destination and drive long-term economic growth,” he said.
The Chief Minister asserted Assam will be in the next league of development over the next 5 years, even if it can implement 70 per cent of the signed MoUs.
“I hope starting from the next financial year we will be able to talk to the companies who have signed MoUs here at Advantage Assam 2.0. We will start individual discussions with the companies about how to go about realising the investment on the ground, what kind of incentives they might need, land they would need. We will sit down with them to prepare the preparatory roadmap over the next 6 months,” he added.
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