Guwahati, Feb 25: With staggering investment commitments being announced by various companies at Advantage Assam 2.0 Summit, Assam being primarily known for its tea industry is now transitioning to a diverse hub for technology, energy, and manufacturing, signalling a new era of industrial growth and global integration.
The summit inaugurated by Prime Minister Narendra Modi, has set the stage for an unprecedented wave of industrial investment in Assam. With national and international leaders, ambassadors, and industry stalwarts in attendance, the summit has certainly marked a defining moment in Assam’s transformation into a global investment destination.
Reliance Industries Chairman Mukesh Ambani announced a massive investment of over Rs 50,000 crore in Assam over the next five years. He emphasized that Assam, traditionally known as a “tea paradise,” is on the cusp of becoming a “technology paradise.”
“In the coming years and decades, Assam will be known to the world as a technological paradise,” Ambani declared. He further added, “AI, which stands for Artificial Intelligence, will also soon mean Assam Intelligence, as Assam’s tech-savvy youth redefine the future.”
He said Reliance’s investment will focus on five key areas, including establishing two bio-gas units in Assam, developing a mega food park to enhance agricultural output, doubling Reliance Retail’s presence in the state and constructing a luxury 7-star Oberoi Hotel in Assam.
Ambani praised Prime Minister Modi’s leadership, stating, “The greatest advantage for every Assamese and every Indian is that we are blessed with your visionary leadership. You have brought Assam from the periphery to the centre of India’s development map.”
Adani Group Chairman Gautam Adani also pledged an investment of Rs 50,000 crore across key sectors, including Aerocity, City Gas Distribution (CGD), cement production, and infrastructure. Adani lauded Assam Chief Minister Himanta Biswa Sarma’s governance, calling him an inspiring leader who has turned hope into action and progress.
“In the past two decades, these investor summits have exceeded their original ambitions. They have become catalysts for transformative change, attracting billions of dollars in investments and driving the vision of a Viksit Bharat,” Adani noted.
He also acknowledged Assam’s aggressive stance against social challenges like drug abuse and child marriage, calling these efforts instrumental in shaping the state’s future.
The Tata Group’s commitment to Assam saw a major boost in 2024 with the establishment of the Tata Semiconductor Facility. Tata Sons Chairman N Chandrasekaran highlighted that this move would position Assam at the heart of the global semiconductor ecosystem.
Tata Group’s future investments include the installation of 5GW renewable energy capacity in Assam over the next five years and the establishment of a large manufacturing technology facility that will create 30,000 job opportunities.
Vedanta Group Chairman Anil Agarwal outlined his ambitious vision for Assam, stating, “My vision for Assam is where an entire end-to-end industrial ecosystem will develop.” He announced that in the coming years, Vedanta will ramp up oil production to 100,000 barrels per day in Assam, significantly boosting the state’s energy sector.
Prashant Ruia, CEO of Essar Group, underscored Assam’s role in India’s economic growth, stating, “We are on the cusp of being the third-largest economy, and Assam is a key driver of this goal.”
Noted Assamese entrepreneurs Abhijit Barua of Premier Cryogenics and Anupam Deka of Repose Group highlighted the state’s conducive business atmosphere. They emphasized how Assam’s youth are shifting their mindset from seeking jobs to creating jobs, leveraging the opportunities brought by the state’s rapid industrial transformation.
