Latest update: November, 2016
Last Updated: November, 2016
ASSAM State Report | November, 2016
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.
At current prices, the Gross State Domestic Product (GSDP) of Assam was US$ 30.72 billion in 2015-16 while the average annual GSDP growth rate from 2004-05 to 2015-16 was 9 per cent.
The 12th Five Year Plan estimates the growth rate to be around ten per cent overall, while estimating industry and services sub-sectors to grow at 9 per cent and 13 per cent respectively.
The state is rich in water resources and has vast tracts of fertile land. Assam is also the third-largest producer of petroleum and natural gas in the country and has ample reserves of limestone. With its five national parks and 18 wildlife sanctuaries, the state is a biodiversity hotspot. Other potential areas of investment include power and energy, mineral-based industries, tourism and crude oil refining.
Assam has adopted numerous investor-friendly policies to attract investments and accelerate industrial development. Key areas of focus include the IT, tourism and power sector along with several other initiatives such as the North East Industrial and Investment Promotion Policy (NEIIPP) 2007 and the Industrial and Investment Policy 2014. Assam stands 22nd among Indian states in rankings based on ease of doing business and reforms implementation, according to a study by the World Bank and KPMG.
According to the Department of Industrial Policy & Promotion (DIPP), cumulative FDI inflows during April 2000 to March 2016 totaled to US$ 94 million.
Last Updated: November 08, 2016