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Assam

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About Assam: Climate, Information, Geography, Industries, Economy

August, 2014

Assam is located in the northeast of India. The state shares its borders with Arunachal Pradesh, Nagaland, Manipur, Mizoram, Meghalaya, Tripura and West Bengal. The state shares international borders with Bangladesh and the Kingdom of Bhutan. Assam is India's gateway to Northeast India and acts as a vital link for trade with Southeast Asian countries. The state is known for its tea, petroleum resources, muga silk and bio-diversity. It is also becoming an increasingly popular destination for wildlife tourism.

The gross state domestic product (GSDP) grew at a compound annual growth rate (CAGR) of 13.2 per cent between 2004–05 and 2012–13. With its high economic growth rate of over 8 per cent, Assam is the seventh fastest growing state in the country. The government estimates that growth will further accelerate to 9 per cent by the end of 2017.

The state is rich in water resources and has vast tracts of fertile land. Other potential areas of investment include power and energy, mineral-based industries, tourism and crude oil refining. With its five national parks and 15 wildlife sanctuaries, Assam is a popular tourist destination.

Assam has adopted numerous investor-friendly policies to attract investments and accelerate industrial development. North East Industrial and Investment Promotion Policy and Industrial Policy of Assam facilitate business through fiscal incentives and multi-year concessions to investors. IT Policy and Tourism Policy of Assam have given special attention towards specific sector development.