Chief Minister Himanta Biswa Sarma embarked on a three-day visit to Mumbai, kickstarting Advantage Assam 2.0. The initiative is a sequel to the state’s highly successful Advantage Assam: Global Investors’ Summit held in 2018, and it aims to bring in fresh investments across sectors to boost Assam’s economic growth.
Focus of the Mumbai Visit
The visit, which began on Thursday, has been strategically planned to engage with industry leaders, corporate giants, and investors based in India’s financial capital. During his stay, CM Sarma will participate in a series of high-level meetings and investor roadshows, emphasizing Assam’s growing potential in sectors such as agriculture, infrastructure, renewable energy, IT, tourism, and logistics.
The Chief Minister’s outreach includes one-on-one discussions with prominent business leaders from multinational corporations, start-ups, and key Indian conglomerates. He is also expected to highlight Assam’s investor-friendly policies, improved ease of doing business, and ongoing infrastructural developments that make the state an attractive business hub.
Advantage Assam: The Vision
The Advantage Assam initiative, first launched in 2018, positioned the state as the gateway to Southeast Asia, leveraging its geographical proximity to neighboring countries like Bhutan, Bangladesh, and Myanmar. With Advantage Assam 2.0, the government aims to build on this vision by enhancing connectivity and strengthening trade ties with ASEAN countries.
Assam’s potential as a logistics and export hub has been growing, thanks to projects like the Bharatmala initiative, inland waterways, and the upcoming multimodal logistics parks. Additionally, the government’s focus on industrial corridors and agro-processing zones is expected to generate employment and boost exports of Assam’s organic produce, tea, and handloom products.
Key Areas of Investment
CM Sarma’s discussions with investors are centered around the following key sectors:
- Agriculture and Food Processing: Assam’s fertile lands and diverse climate provide immense opportunities for investment in organic farming, food processing, and agro-tech solutions. The state’s organic produce, such as tea, spices, and rice, has significant export potential.
- Tourism: With its rich cultural heritage, wildlife sanctuaries, and scenic beauty, Assam is positioning itself as a premier tourism destination. The government’s plans to develop eco-tourism projects and adventure tourism have garnered interest from private players.
- Infrastructure and Connectivity: The state is witnessing rapid infrastructural growth, including new highways, airports, and rail connectivity projects. These developments are expected to ease the transportation of goods and services, making Assam a logistics hub.
- Renewable Energy: Assam’s untapped potential for solar and hydropower projects presents lucrative investment opportunities in the renewable energy sector.
- IT and Start-ups: The government’s push for digitization and innovation has opened avenues for investments in IT parks, start-up incubation centers, and skill development initiatives.
Government Incentives for Investors
To attract investors, the Assam government has introduced several policy reforms and incentives, including tax breaks, subsidies, and single-window clearance systems. Additionally, the state offers affordable land, labor, and access to raw materials, making it an appealing choice for businesses looking to expand in the Northeast region.
Speaking about the initiative, CM Sarma said, “Advantage Assam 2.0 is a platform to showcase the state’s transformation into an investment-ready destination. We are committed to providing a conducive environment for businesses and ensuring that investors find ample opportunities for growth and success in Assam.”
Mumbai: The Gateway to Investments
Mumbai, being the financial capital of India, has always been a key hub for attracting investments. CM Sarma’s visit reflects Assam’s proactive approach to engaging with investors directly. The series of meetings in Mumbai is expected to result in the signing of multiple Memorandums of Understanding (MoUs) across various sectors.
What’s Next for Assam?
Post-Mumbai, the Assam government is planning a series of similar investor roadshows across major Indian cities and internationally. The focus will be on sustaining the momentum of Advantage Assam 2.0 and ensuring that commitments translate into actionable investments.
Conclusion
CM Himanta Biswa Sarma’s three-day visit to Mumbai marks a significant step in Assam’s journey toward economic transformation. By leveraging its strategic location, rich resources, and investor-friendly policies, Assam aims to emerge as a vital contributor to India’s growth story. The success of Advantage Assam 2.0 will not only benefit the state’s economy but also pave the way for sustainable development and prosperity in the Northeast region.