Assam is the largest economy in the northeast region. Owing to its relative proximity to the rest of the country and availability of quality infrastructure, the state offers a favourable environment for industry.
Assam has the largest tea growing area in the world, constituting around one-seventh of the global tea production. In 2020-21, tea production in the state stood at ~503.46 thousand tonnes, which was 39.12% of the total tea production in India during the same period. It also has 20 industrial estates, three industrial growth centres, 11 Integrated Infrastructure Development Depots, 17 industrial areas, 12 growth centres, eight mini industrial estates, one export promotion park and one food processing industrial park. Assam is also the most popular tourist destination among the northeast states.
At current prices, Gross State Domestic Product (GSDP) of Assam is estimated to reach Rs. 4.09 trillion (US$ 55.14 billion) in 2020-21. The GSDP of the state grew at a CAGR (in Rs.) of 12.38% between 2015-16 and 2020-21BE.
According to the Department for Promotion of Industry and Internal Trade (DPIIT), FDI inflow to the state totalled US$ 142 million between April 2000 and March 2021. The state attracted FDI inflows worth US$ 14.12 million between October 2019 and March 2021.
Exports from the state stood at US$ 415.57 million in FY21. Assam exported key items such as tea, petroleum products, coal, coke and briquettes and other products. In FY21, the total tea exports from Assam accounted for US$ 217.89 million, which was 64% of the total export.
As of April 2021, Assam had a total installed power generation capacity of 1,795.26 MW, of which 1,286.14 MW was under central utilities, 74.75 MW was under private utilities and 434.37 MW was under state utilities.
To facilitate infrastructure support, the State Industries and Commerce Department has sponsored three projects as industrial growth centres at Chariduar, Matia and Chaygaon-Patgaon.
The Assam Government has approved 11 integrated infrastructure development centres across the state. Some of the major initiatives taken by the Government to promote Assam as an investment destination are: