Assam Cabinet Approves Rs. 1.22 Lakh Crore Investment Proposals Ahead Of Advantage Assam 2.0 Summit

GUWAHATI: The Assam government has cleared investment proposals worth Rs. 1.22 lakh crore in the run-up to the Advantage Assam 2.0 summit, which will be held in Guwahati on Tuesday and Wednesday. This major approval is likely to open the way for more investment announcements at the summit.

Chief Minister Himanta Biswa Sarma announced the Cabinet's decision at a press conference, revealing that proposals worth approximately Rs. 35,000-45,000 crore were rejected due to their lack of substance. "We are not accepting flimsy proposals for MoUs. We aim to avoid creating unnecessary excitement and want to be rational in our approach," Sarma stated.

The Assam government has opted to present all investment proposals to the Cabinet for thorough scrutiny before finalizing any Memorandums of Understanding (MoUs). This strategy is intended to ensure that only viable projects are pursued, thereby fostering genuine investments in the state.

During the summit, around 2,600 MoUs for smaller investments, ranging from Rs. 5 lakh to Rs. 50 crore, are expected to be signed at the district level. So far, approximately Rs. 15,900 crore in MoUs have been confirmed in addition to the Cabinet-approved investments.

The event is going to be inaugurated by Prime Minister Narendra Modi and will have the presence of various Union ministers and key business leaders, such as Mukesh Ambani and Gautam Adani. The top delegations of countries like Australia and South Korea are also likely to attend, reflecting the global significance of the event.

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