Assam now produces nearly 700 million kg of tea annually and accounts for around half of India's overall tea production.
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 March 2023, tea production in the state stood at 33.49 million kgs, while in March 2022 it stood at 24.50 million kgs. 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, the Gross State Domestic Product (GSDP) of Assam is estimated to be at Rs. 5.67 lakh crore (US$ 69.25 billion) in 2022-23. The GSDP increased at a CAGR of 13.90% between 2016-17 to 2022-23.
According to the Department for Promotion of Industry and Internal Trade (DPIIT), the cumulative FDI inflows in Assam were valued at US$ 20.62 million from October 2019-March 2023.
Exports from the state stood at US$ 415.62 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$ 281.42 million, which was 68% of the total export.
As of May, 2023, Assam had a total installed power generation capacity of 1,858.31 MW, of which 1,285.16 MW was under central utilities, 161.78 MW was under private utilities and 411.37 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:
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.