Assam, the gateway to the Northeast, is poised for unprecedented economic growth. Advantage Assam 2.0, the state government's flagship initiative, aims to catapult Assam into a major economic hub. This ambitious programme builds upon the initiative of its predecessor, Advantage Assam, and seeks to create a thriving business ecosystem, foster entrepreneurship, and attract investments. There is a big thrust by the present government under the dynamic leadership of the Chief Minister Himanta Biswa Sarma. It’s quite evident the way the chief minister and his colleagues have visited countries like Japan, South Korea, Thailand, Singapore, UK, etc. The government is leaving no stone unturned to make Advantage Assam 2.0 a great success. All-round preparation by the state machinery is noteworthy! Though investment summits are being held in other states of the country, but Assam is really different in all its efforts! The spirit of ‘Do or Die’ is visible.
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Key Objectives
Advantage Assam 2.0 has several key objectives:
1. Boost Industrialisation: Establish Assam as a major industrial hub, focusing on sectors like textiles, food processing, and pharmaceuticals.
2. Promote Entrepreneurship: Foster a culture of entrepreneurship, providing support to start-ups and MSMEs through funding, mentorship, and infrastructure.
3. Enhance Connectivity: Improve air, road, and rail connectivity to facilitate seamless transportation of goods and people.
4. Develop Infrastructure: Create world-class infrastructure, including industrial parks, logistics hubs, and IT parks.
5. Attract Investments: Showcase Assam's investment potential, attracting domestic and foreign investors to the state.
Strategies for Success
To achieve its objectives, Advantage Assam 2.0 employs several strategies:
1. Sector-Focused Approach: Identify and promote key sectors, such as tea, tourism, and IT, to drive economic growth.
2. Infrastructure Development: Invest in modern infrastructure, including roads, bridges, and industrial parks, to support business growth.
3. Policy Reforms: Implement business-friendly policies, such as single-window clearances and tax incentives, to attract investments.
4. Skill Development: Provide training and skill development programmes to create a workforce that meets industry requirements.
5. Marketing and Promotion: Showcase Assam's investment potential through targeted marketing campaigns and investor summits.
Key Sectors for Growth
Advantage Assam 2.0 focuses on several key sectors to drive economic growth:
1. Tea Industry: Assam is renowned for its tea plantations. The state government aims to modernise the tea industry, increasing production and exports.
2. Tourism: Assam's rich cultural heritage and natural beauty make it an attractive tourist destination. The state government plans to develop tourism infrastructure and promote Assam as a tourist hub.
3. IT and ITES: Assam has a growing IT sector, with several major players setting up operations in the state. The state government aims to promote Assam as an IT hub, providing incentives and infrastructure support.
4. Food Processing: Assam is a major producer of agricultural products, including rice, tea, and fruits. The state government plans to promote food processing industries, creating value-added products for domestic and international markets.
5. Pharmaceuticals: Assam has a growing pharmaceutical sector, with several major players operating in the state. The state government aims to promote Assam as a pharmaceutical hub, providing incentives and infrastructure support.
Benefits for Investors
Advantage Assam 2.0 offers several benefits for investors:
1. Business-Friendly Environment: Assam offers a business-friendly environment, with single-window clearances and tax incentives.
2. Skilled Workforce: Assam has a skilled workforce, with several institutions providing training and skill development programs.
3. Infrastructure Support: The state government provides infrastructure support, including industrial parks, logistics hubs, and IT parks.
4. Market Access: Assam provides access to a large market, with a growing consumer base and proximity to international markets.
5. Government Support: The state government provides support to investors, including subsidies, incentives, and facilitation services.
Advantage Assam 2.0 is a comprehensive initiative aimed at transforming Assam into a major economic hub. By promoting entrepreneurship, attracting investments, and developing infrastructure, the state government aims to create a thriving business ecosystem. With its business-friendly environment, skilled workforce, and infrastructure support, Assam is poised to become a preferred investment destination.
(The writer is CMD of SM Group companies having multifarious business activities. He is the Chairperson of Assam State Council & Meghalaya State Council of Indian Chambers of Commerce, a premier all-India industry and trade body. He has also served as Chairman of Federation of Industries & Commerce of Northeast Region (FINER) for five years (1997-2001 & 2004-2005). All views and opinions expressed are author’s own)
