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Assam State Presentation and Economic Growth Report | IBEF

Last updated on May, 17 2021

Economic Snapshot
Economic Snapshot

 


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 2019-20, the state accounts for over 51.10% 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$ 55.14 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 the Department for Promotion of Industry and Internal Trade (DPIIT), the cumulative FDI inflows in Assam were valued at US$ 10.49 million between October 2019 and December 2020.

Exports from the state stood at US$ 341.59 million in FY21 (until January 2021). Assam exported key items such as tea, petroleum products, coal, coke and briquettes and other products. In FY21 (until January 2021), the total tea exports from Assam accounted for US$ 217.89 million, which was 64% of the total export.

As of February 2021, Assam had a total installed power generation capacity of 1,794.10 MW, of which 1,286.14 MW was under central utilities, 73.59 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:

  • Government introduced Jyotisman Asom scheme under Budget 2020-21 to provide free electricity to all households whose monthly electricity consumption is up to 30 units.
  • Under State Budget 2020-21, Government announced setting up of five polytechnics, seven new Government colleges, two medical colleges, one ayurvedic college, one new law college, and new university Sati Sadhoni Rayjik Vishwavidyalaya. 
  • Lokpriya Gopinath Bordoloi International Airport and Dibrugarh Airport are the most popular airports in the state. Aircraft movement from Guwahati and Dibrugarh airports stood at 45,539 and 5,502, respectively, in 2019-20. Passenger traffic at Guwahati and Dibrugarh airports in 2019-20 was 54,57,449 and 5,31,993, respectively. Freight handled at Guwahati and Dibrugarh airports stood at 21,270 MT and 909 MT, respectively, during same period.
  • The Government has set a target to generate 6,500 MW power in the state by 2030.
  • State Cattle and Buffalo Breeding Policy 2020 - To achieve maximum levels of productivity from low productive cattles, cross-breeding/interbreeding with recognised dairy breed was done.
  • Under the ‘Comprehensive Telecom Development Plan’ (CTDP) for the North-eastern region, the Union Cabinet approved the Universal Service Obligation Fund (USOF) scheme to provide mobile coverage in Arunachal Pradesh and two districts of Assam, namely Karbi Anglong and Dima Hasao.

Note: P - Provisional, ** - Including Arunachal Pradesh, Manipur, Mizoram, Meghalaya, Assam, and Tripura

Assam State Presentation

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