Guwahati: Prime Minister Narendra Modi on Tuesday lauded Assam for diversifying its economy with focus on technology and manufacturing while inaugurating the two-day Advantage Assam 2.0: Investment and Infrastructure Summit in Guwahati.
The summit was inaugurated in the presence of chief minister Himanta Biswa Sarma, external affairs minister S Jaishankar, several union and state government ministers, foreign envoys and a host of industry captains.
Reiterating Government of India’s unwavering support and commitment for Assam’s rise as an industrial powerhouse, PM Modi said, “East India and North East India are embarking on a new journey of future today and Advantage Assam is a mega initiative to intertwine the incredible potential and progress of Assam with the world.”
“Despite global uncertainties, experts unanimously agree on one point - India's rapid growth”, said the Prime Minister adding that India is working with a long-term vision for the next 25 years. He highlighted that the world has immense trust in India's young population, which is rapidly becoming skilled and innovative. He also noted the growing confidence in India's neo-middle class, emerging from poverty with new aspirations.
Underscoring the trust the world places in India's 140 crore people who support political stability and policy continuity, Modi highlighted India's governance that continues to implement reforms. He also pointed out that India is strengthening its local supply chains and entering free trade agreements with various global regions. He also mentioned the robust connectivity with East Asia and the new India-Middle East-Europe Economic Corridor, bringing new opportunities.
Highlighting the growing global trust in India, as witnessed by the gathering here, PM Modi said that Assam's contribution to India's growth is steadily increasing. “The first edition of the Advantage Assam Summit was held in 2018 and Assam's economy was valued at Rs. 2.75 lakh crore. Today, Assam has become a state with an economy of approximately Rs. 6 lakh crore,” he said adding, under their government, the state's economy has doubled in just six years.
“The numerous investments in Assam have turned it into a state of unlimited possibilities,” he said while appealing investors to come and invest in Assam.
“Before 2014, there were only three bridges over the Brahmaputra river, built over 70 years, but in the past 10 years, four new bridges have been constructed. Between 2009 and 2014, Assam received an average railway Budget of Rs. 2,100 crore but the BJP-government increased it to more than four times to Rs. 10,000 crore,” he said.
Touching upon rapid expansion of air connectivity in Assam, PM Modi said until 2014, flights operated only on seven routes, but now there are flights on nearly 30 routes. This expansion has provided a significant boost to the local economy and created employment opportunities for the youth, he added.
“India is undergoing significant reforms across all sectors and levels of the economy and continuous efforts have been made to enhance the ease of doing business, and a comprehensive ecosystem has been established to promote industry and an innovation culture”, he said.
He pointed out that Assam has set a target to achieve a $150 billion economy by 2030 and expressed confidence that the state will be able to achieve this goal, attributing it to the talented people of Assam and the commitment of their government. Emphasising that Assam is emerging as a gateway between South East Asia and India, PM Modi said, to further this potential, the government has launched the North East Transformative Industrialisation Scheme, 'Unnati.' He highlighted that the 'Unnati' scheme will accelerate industry, investment and tourism across the entire North East region, including Assam. He urged industry partners to take full advantage of this scheme and Assam's unlimited potential.
Stressing that Assam has always had a share in global trade, Modi remarked that today, over 50 percent of India's on-shore natural gas production comes from Assam and there has been a significant increase in the capacity of Assam's refineries in recent years. He also pointed out that Assam is rapidly emerging in sectors such as electronics, semiconductors, and green energy. He emphasized that due to government policies, Assam is becoming a hub for high-tech industries as well as startups.
Highlighting that in the recent Budget, the Centre has approved the Namrup-4 plant, the Prime Minister remarked that this urea production plant will meet the demand of the entire North East and the country in the future. He said, “The day is not far when Assam will become a major manufacturing hub in Eastern India”. The Central government is fully supporting the Assam government in achieving this goal, he added.
The Advantage Assam 2.0 Investment and Infrastructure Summit 2025 is being held from February 25 to 26 in Guwahati. It includes an inaugural session, seven ministerial sessions and 14 thematic sessions. This apart, there is a comprehensive exhibition illustrating the state’s economic landscape, with a focus on its industrial evolution, global trade partnerships, booming industries and the vibrant MSME sector, featuring over 240 exhibitors.
