The Advantage Assam summit signals the enhanced focus of the state on industrial development and economic growth. While Assam has focused on infrastructure for the last few years, industrialisation was not getting enough attention. This is the first serious attempt of Assam government to promote Assam as an attractive investment destination.
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Events like this summit play a crucial role in aligning government initiatives with investor interests. The urgency of this push is evident from recent policy rollouts. Just days before the summit, the cabinet approved a renewable energy policy, and a mega industrial park in Jagiroad was announced. In the past year, Assam introduced various policies on startups, bio-ethanol, logistics, and general industry, all aimed at attracting investment.
From an investor’s perspective, states across India are competing for industrial growth. This summit reassures investors of the government’s commitment and allows them to assess the state’s environment firsthand. By attending, potential investors gain insights into Assam’s policies and witness the state’s progress, expediting their decision-making process.
Assam’s rapid economic development is reflected in its impressive GSDP growth and infrastructure advancements. Guwahati, now a major urban center in eastern India, showcases the state’s readiness for investment. A few years ago, such an environment did not exist, but today, major business houses across India are considering Assam as a viable investment destination. While not all will invest immediately, their growing interest signals a promising future, with the Advantage Assam summit acting as a catalyst.
A key factor contributing to this shift is the leadership of Chief Minister Himanta Biswa Sarma. His governance has built credibility among industrialists, ensuring that government commitments are met swiftly. Unlike previous years, where promises often remained unfulfilled, today’s administration is delivering results at an unprecedented pace. Government decisions are not only being made quickly but also implemented efficiently, creating an attractive business climate.
What sets this summit apart from others in India is its inclusive approach. Unlike summits that focus solely on large-scale investments, Advantage Assam encourages participation from small entrepreneurs as well. Even those planning investments as modest as 10-20 lakh are being invited to sign Memorandums of Understanding (MoUs) with the government, ensuring support for their ventures. This initiative extends beyond Guwahati, reaching district headquarters, where District Industries Centres facilitate MoU signings for micro-scale enterprises.
These MoUs serve as formal agreements between entrepreneurs and the government, ensuring that intended investments materialise efficiently. However, for this initiative to succeed, a robust follow-up mechanism is essential. Signing MoUs alone will not drive progress unless a structured review process is in place. The government must periodically assess implementation, identify bottlenecks, and provide necessary support to both small and large investors. Only with sustained commitment can the summit’s objectives be truly realised.
Beyond initial investments, long-term industrial success in Assam hinges on addressing critical challenges. One such challenge is the availability and affordability of power. Although Assam’s power supply has improved, it remains inadequate for seamless industrial operations. Moreover, electricity costs are relatively high, which could deter investors. The government’s efforts to enhance power infrastructure and reduce tariffs must materialise quickly to maintain investor confidence.
Another crucial factor is industrial infrastructure. While Assam has established several industrial parks, space availability remains a challenge. The demand for industrial land is expected to rise following the summit, making it imperative for the government to provide well-planned, accessible sites rather than leaving businesses to acquire land in an uncoordinated manner. Proper infrastructure planning is essential for attracting major investments.
A notable example is the Tata project in Jagiroad, which became viable due to the availability of existing infrastructure from a closed paper mill. The Assam government’s strategic acquisition of this site facilitated Tata’s investment, demonstrating the importance of ready industrial spaces. For future investments, the state must proactively develop industrial zones with the necessary facilities, ensuring a smooth entry for businesses.
The Advantage Assam summit is not merely about securing investment commitments—it aims to transform these commitments into tangible industrial growth. Success depends on continued government support, efficient infrastructure, and strategic follow-ups to facilitate project implementation. If these factors align, Assam is well-positioned to emerge as a major industrial hub, fostering long-term economic prosperity.
(The writer is Managing Director, Premier Cryogenics Ltd. He can be contacted: a.barooah@premier cryogenics.com. All views and opinions expressed are author’s own)
