Last updated on Nov, 17 2020
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. The state accounts for over 53.55% in the country’s overall tea production. Between April 2020 and July 2020, production of tea in the state stood at 210.13 million kgs, contributing 48% to the total tea production in India. 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$ 58.47 billion) in 2020-21. The GSDP of the state grew at a CAGR (in Rs.) of 12.58% between 2015-16 and 2020-21.
According to Department for Promotion of Industry and Internal Trade (DPIIT), total FDI inflow for Assam stood at US$ 5.35 million between October 2019 and June 2020.
Exports from the state stood at US$104.70 million in FY20. Major items exported from the state of Assam are tea, Coal, Coke and Briquettes etc. In FY20, the total tea exports from Assam accounted for US$312.46 million, which was 72% of the total export.
As of August 2020, Assam had a total installed power generation capacity of 1,759.84 MW, of which 1,253.64 MW was under central utilities, 71.83 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:
Note: P - Provisional, ** - Including Arunachal Pradesh, Manipur, Mizoram, Meghalaya, Assam, and Tripura
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