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 boasts largest tea growing area in the world, constituting around one-seventh of the global tea production. The state accounts for over 50 per cent in the country’s overall tea production. Tea production in the state for December 2017 was 27.99 million kg. 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 north-eastern states.
Between 2004-05 and 2015-16, Gross State Domestic Product (GSDP) expanded at a Compound Annual Growth Rate (CAGR) of 9 per cent to US$ 30.72 billion whereas the Net State Domestic Product (NSDP) expanded at a CAGR of 8.65 per cent to US$ 26.16 billion.
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:
- Under the current Five-Year Plan, a new Institute of Information Technology (IIT) has been set up in Guwahati, Assam in the Public-Private Partnership mode. It will help in promoting research and industrial partnership in technical education.
- The State has adopted the North East Industrial Investment Promotion Policy and Industrial Policy of Assam to facilitate business through fiscal incentives and multi-year concessions to investors.
- The Government of Assam has released ‘Tourism Policy of Assam’, which will be effective from January 2018 till December 2022, and which provides the industry status to the tourism sector with special focus on encouraging film making in the state.
- Assam Industrial Development Corporation (AIDC) has implemented an Export Promotion Industrial Park (EPIP) at Amingaon, near Guwahati in the district of Kamrup, at an estimated cost of US$ 3 million.
- Industrial growth centres with supporting infrastructure have been set up at Balipara in the Sonitpur district and Matia in Goalpara at estimated cost of US$ 4.5 million and US$ 5.3 million respectively.
- Integrated Infrastructure Development (IID) centres have been planned at Parbatpur, Serphangguri, Dalgaon, Demow, Bhomoraguri, Malinibeel, Dahudi, Silapathar, Rangia, Banderdewa and Titabar.
- The Government of India has created a Special Purpose Tea Fund (SPTF) for rejuvenation of the tea bushes. This will benefit about 700 to 800 tea gardens of the state.
- Border Trade Centres (BTCs) have been established at Mankachar (Dhubri), Sutarkandi (Karimganj) and Darranga (Kamrup).
Assam State Presentation
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