Assam has secured investment commitments worth about Rs 1 lakh crore during its first-ever participation at the World Economic Forum Annual Meeting in Davos, Chief Minister Himanta Biswa Sarma said on January 21, calling the outreach a base for positioning the state in the global investment arena.
Speaking to reporters in Davos, Sarma said Assam, and states from the Northeast, had come to the WEF for the first time, describing the engagement as “an enlightening experience” that would help in policy framing and attracting further investment.
Citing Reserve Bank of India data, the Chief Minister said Assam is the fastest-growing state in the country, recording over 13 per cent growth consistently for the past five years, with projections of around 15 per cent growth next year.
“We are a small economy, but now we are growing at a faster pace. The Prime Minister is championing the cause of Assam, championing the cause of the northeastern region,” Sarma said.
He said the Prime Minister has laid the foundation stone for a large urea factory and a greenfield chemical complex in the state. Referring to electronics manufacturing, Sarma said Tata Semiconductor was in the final stage and could begin chip production “in two to three months”.
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“Now, we want to tell our story to the global audience, and during our stay in Davos, we have met various global players,” he said, while stressing that sustained engagement over the next three to four years would be required to draw continued investor attention.
The Chief Minister said the state government is focusing on investments that can leverage Assam’s natural gas resources, adding that energy remains critical given the state’s terrain. Solar storage projects, green energy, hydrocarbons, semiconductors and electronics were among the sectors discussed with investors.
Sarma said perceptions about Assam were changing. “Nobody has thought that Assam can be an investment destination. And when I talk about Assam, I also talk about the northeast because we are inseparable,” he said.
He added that Indian conglomerates and international investors were engaging with the state to explore opportunities. “I am confident that in the next few years, Assam will emerge as a very, very important destination in the national landscape,” Sarma said.
Calling the Davos engagement a starting point, he said, “This visit will give us an investment of about Rs 1 lakh crore in Assam. But that's the beginning because we are focusing on a bigger picture. I think we are laying a foundation for the future.”
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