Last updated on Feb, 9 2021
ASSAM State Report | December, 2020
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 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 the Department for Promotion of Industry and Internal Trade (DPIIT), the cumulative FDI inflows in Assam were valued at US$ 8.19 million between October 2019 and September 2020.
Exports from the state stood at US$ 652.57 million in FY21 (until October 2020). Assam exported key items such as tea, coal, coke and briquettes and other products. In FY21 (until October 2020), the total tea exports from Assam accounted for US$ 472.97 million, which was 72% of the total export.
Note: @ - Includes Fruits, Vegetables, Spices, Honey, Plantation, Aromatic and Flowers, * - As per 3rd Advance Estimate, ^-Provisional, ** - Including Arunachal Pradesh, Manipur, Mizoram, Meghalaya, Nagaland, Assam and Tripura