Assam accounts for almost 50% of the country’s overall tea production. In FY22, tea production in the state stood at 672.14 million kgs.
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, Myanmar, and the Kingdom of Bhutan. Assam is India's gateway to northeast and acts as a vital link for trade with Southeast Asian countries. The state is known for its tea, petroleum resources, muga silk and biodiversity. It is also becoming an increasingly popular destination for wildlife tourism.
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 stood 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. The Government has set a target to generate 6,500-megawatt (MW) power in the state by 2030.
At current prices, the Gross State Domestic Product (GSDP) of Assam is estimated to be at Rs. 4.33 lakh crore (US$ 56.80 billion) in 2021-22. The GSDP increased at a CAGR of 11.28% between 2016-17 to 2021-22.
According to the Department for Promotion of Industry and Internal Trade (DPIIT), the cumulative FDI inflows in Assam were valued at US$ 19.9 million from October 2019-June 2022.
Exports from the state stood at US$ 181.64 million in FY23 (Until August 2022). Assam exported key items such as tea, petroleum products, coal, coke and briquettes and other products. In FY22, the total tea exports from Assam accounted for US$ 179.65 million, which was 40% of the total exports.
Prime Minister, Mr. Narendra Modi laid the foundation stone of two hospitals and launched ‘Asom Mala’, a programme for state highways and major district roads, in Assam; stated that about 1.25 crore people in Assam are being benefitted from Ayushman Bharat Scheme.
Prime Minister, Mr. Narendra Modi addressed the 18th Convocation of Tezpur University, Assam; stated that the concept of Aatmanirbhar Abhiyan (self-reliant India Initiative) is in sync with the mood of today’s youth. He also said that NEP will prepare India’s education system for data and data-analytics.
Prime Minister, Mr. Narendra Modi will visit Kolkata to address the 'Parakram Diwas' celebrations on January 23, 2021, to commemorate the 125th birth anniversary year of Netaji Subhas Chandra Bose. Prime Minister will also distribute 1.06 lakh Land Pattas/ allotment certificates in Sivasagar, Assam.