Mumbai: Assam Chief Minister Himanta Biswa Sarma announced Rs 25,000 crore corpus fund as production linked incentives (PLI) for companies, during his investment summit roadshow in Mumbai. Assam CM met industrial leaders including Tata, Mahindra and Adani groups and invited industrialists from Maharashtra at the Advantage Assam 2.0 on February 25 and 26.
On Monday, the Assam Industrial Development Corporation Ltd. (AIDC) government hosted a roadshow in Mumbai to build momentum for the upcoming Advantage Assam 2.0 Investment and Infrastructure Summit, which is set to take place in Guwahati on February 25 and 26. The investment summit is expected to be attended by Prime Minister Narendra Modi and other union ministers.
At the roadshow, led by Assam CM Sarma, he announced a corpus fund of Rs 25,000 crores for companies investing in the state in form of PLI. Sarma said that the PIL will be awarded on first come first serve basis to companies primarily working in electric semiconductor technology, electronics, electric vehicles and solar power components. He also said that the state is aiming to attract defence companies involved in manufacturing and service of weapons.
Sarma also announced that the government is spending Rs65,000 crores for infrastructure development in the state while the central government is also expected to announce Rs1 lakh crore in a period of five years for the state’s development.
Bureaucrats representing Assam government claimed that Assam’s Gross State Domestic Product has seen remarkable growth over the last decade, increasing from $29 billion in 2013-14 to $68.7 billion in 2023-24. The state is now targeting a GSDP of $143 billion by FY 2029-30, supported by a $26 billion capital investment plan.
A series of Government-to-Business meetings were held, in the days leading up to the roadshow, with senior executives from leading Indian conglomerates like Tata & Sons, mahindra & Mahindra, Adani Group, Larsen & Toubro, D-Mart, Essar Group, Welspun Group and Piramal Group.
He emphasized that the government is dedicated to providing a customized approach for every investor and ensures that all levels of investment, big or small, are treated equally.
“It does not matter if the investment is worth Rs 500 or Rs 50,000 because the smallest of the investment is a contribution to our state,” he said adding that the investments above Rs100 crore will be specially looked after by a group of secretaries.
As a key achievement of the state Sarma mentioned about India’s first Semiconductor Assembly and Test Unit being setup by Tata Group in Jagiroad. He said that the state is also aiming to attract industries involved in manufacturing components used in the semiconductor production.
“I profoundly thank Tata Group for bringing the semiconductor plant to Assam and break the myth that such big investments cannot come to the North East region,” he added.
