Guwahati, 5th June: In a significant development, Assam Chief Minister Himanta Biswa Sarma unveiled a series of initiatives aimed at positioning Assam as a burgeoning industrial hub. Over the past three years, concerted efforts have been made to entice industries to invest in the state, resulting in investments exceeding Rs 50,000 crore across various sectors, including the establishment of a cutting-edge semiconductor plant.
Assam’s remarkable transformation into an investment hotspot can be attributed to the establishment of enduring peace in the state and the wider region. This favorable environment has catalyzed numerous businesses to embark on ventures in Assam, infusing substantial capital into the economy. Recognizing the pivotal role of startups in driving innovation and economic growth, the state government has extended monetary and policy support, complemented by mentorship programs aimed at nurturing local entrepreneurial talent.
In a bid to incentivize significant investments, customized incentives are being offered to large-scale enterprises committing over Rs 100 crore under the Industrial and Investment Promotion Policy of Assam (IIPA). Notably, the fruition of these efforts has seen investments worth Rs 13,365 crore materialize thus far, with an additional 20 proposals awaiting implementation.
A standout moment in Assam’s industrial landscape is the monumental private investment of Rs 27,000 crore by Tata Electronics to establish a state-of-the-art semiconductor plant in Jagiroad. This landmark endeavor is poised to generate approximately 30,000 employment opportunities, underscoring Assam’s emergence as a beacon of economic dynamism and prosperity.
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