Unlocking Advantage Assam 2.0: Catalysing Global Investments for Growth

Hitesh Kalita

(hitesh.kalita@gmail.com)

Assam is poised to emerge as a global investment hotspot with the launch of Advantage Assam 2.0, a groundbreaking global investors’ summit set for February 2025. Building on the monumental success of the first edition of 2018, which attracted ?70,000 crore in investment commitments, the second edition promises to elevate Assam as a global hub for trade and industrial development. Under the visionary leadership of Chief Minister Dr. Himanta Biswa Sarma, the summit aims to position Assam as the gateway to Southeast Asia for global trade and investment opportunities for global buyers and investors. The Advantage Assam 2.0 initiative reflects the state’s ambition to capitalize on its unique geographic location, Assam is enhancing its connectivity and infrastructure to become a key player in India’s Act East Policy with global trade and industrial growth. Dr. Sarma said about the summit: ‘“Advantage Assam 2.0 represents a bold vision to transform Assam into a global investment hub. With robust infrastructure, a skilled workforce, and a focus on innovation, we are ready to welcome the world to invest in Assam.”

From the semiconductor facility in Jagiroad to international collaborations in Korea, Chief Minister Dr. Himanta Biswa Sarma is steering Assam toward a new technological and economic growth era. Dr. Sarma’s international engagements have laid the groundwork for Advantage Assam 2.0. His recent visits to South Korea and Japan have bolstered Assam’s trajectory of growth and development to reshape the region’s industrial landscape. Chief Minister Dr. Himanta Biswa Sarma concluded a productive three-day visit to South Korea engaging with key industry leaders to bolster investment in Assam’s clean energy and technology sectors. The visit aligns with the state’s ambitious goal of generating 3,000 MW of clean energy by 2030. During his stay, Dr. Sarma met with Young Ha Ryu, Vice President of GS Group, a prominent South Korean conglomerate specializing in renewable energy. Their discussions centred on potential collaborations to achieve Assam’s clean energy targets. Dr. Sarma emphasized the state’s eagerness to partner with enterprises capable of contributing to this vision and developing a skilled workforce for the burgeoning renewable energy industry. In Seoul, the Chief Minister also visited Pangyo Techno Valley, often referred to as South Korea’s Silicon Valley, to explore the country’s startup ecosystem. He expressed interest in fostering collaborations between Assamese entrepreneurs and their South Korean counterparts, aiming to replicate similar innovation hubs in Assam. Furthering his investment drive, Dr. Sarma met with Oh Youngju, South Korea’s Minister for SMEs and Startups, and Kyungsung Kang, President of the Korea Trade-Investment Promotion Agency (KOTRA). These meetings focused on enhancing trade, commerce, and skill development partnerships between Assam and South Korea. The Chief Minister’s visit is part of the lead-up to the Advantage Assam 2.0 Global Investor Summit, scheduled for February 25, 2025, in Guwahati.

Key Sectors Driving

Advantage Assam 2.0:

1. Technology and Semiconductors: Assam’s entry into the global semiconductor industry is a game-changer. The Rs 27,000 crore semiconductor assembly and testing facility in Jagiroad has positioned the state as a key player in high-tech manufacturing. The summit will explore opportunities to attract further investments in electronics and IT hardware.

2. Renewable Energy and Sustainability: Partnerships with global leaders like South Korea’s GS Group will play a pivotal role in creating a green energy ecosystem.

3. Tourism and Cultural Heritage: Assam’s unparalleled natural resources, biodiversity and rich cultural heritage offer immense potential for eco-tourism, adventure tourism and cultural tourism. Advantage Assam 2.0 will invite investments in high-end resorts, tourism infrastructure and heritage conservation projects.

4. Infrastructure and Trade Connectivity: Infrastructure development is central to Assam’s economic growth. Projects like multimodal logistics parks, industrial corridors and enhanced connectivity will be highlighted at the summit to strengthen Assam’s position as a trade gateway to ASEAN countries.

5. Agri-Business and Food Processing: Assam’s global reputation as a leading producer of tea and its potential in organic farming offer significant opportunities for agri-business and food processing industries. The summit will showcase these opportunities to attract global buyers and investors.

The summit aims to attract global investors to Assam, showcasing the state’s potential as an industrial and technological hub. Concluding his South Korea visit, HCM Dr. Sarma expressed optimism about the discussions held and the prospects for future collaborations. He has now proceeded to Japan to continue his efforts in attracting global investments to Assam. Assam has introduced a range of Investor-friendly reforms to enhance its ease of doing business, including single-window clearance systems for faster approvals, incentives and subsidies for priority sectors and a focus on skill development to create a future-ready workforce. The summit aims to secure investment pledges exceeding Rs 1 lakh crore and thousands of new jobs across key sectors, boosting employment and entrepreneurship. Advantage Assam 2.0 is not just a summit. It is a transformative movement to unlock Assam’s immense economic potential. Under the dynamic leadership of Dr. Himanta Biswa Sarma, Assam is ready to catalyse global investments and emerge as a hub for trade, technology, and development in the heart of Southeast Asia. As the world converges on Assam in 2025, the state is prepared to demonstrate its readiness to thrive as a global investment destination and a driver of India’s economic growth story.