Advantage Assam 2.0: Assam gears up for Rs 1.44 lakh crore investment bonanza

Syllad | The Rising MeghalayaFebruary 23, 2025

Assam is set to witness a significant boost in industrial and infrastructure development as the state cabinet has approved 244 Memorandums of Understanding (MoUs) worth Rs 1.44 lakh crore ahead of the Advantage Assam 2.0 summit, scheduled for February 25 and 26 in Guwahati.

Chief Minister Himanta Biswa Sarma announced that the cabinet meticulously reviewed investment proposals, approving Rs 1.44 lakh crore worth of MoUs while rejecting proposals amounting to Rs 35,000 crore. He noted that the total investment could increase as the event progresses. These MoUs will be signed exclusively with private entities, with no agreements in the piggery sector.

“We are not engaging with major corporate houses like Ambani and Adani in this MoU process, as they will announce their investments separately,” Sarma said. Additionally, significant infrastructure investment announcements from the Union government are anticipated during the summit.

The event will also include MoUs for non-financial collaborations in skill development, particularly with Japan and Singapore. On the district level, 2,590 MoUs will be signed, facilitating investments ranging from Rs 5 lakh to Rs 50 crore, totaling Rs 15,911 crore. These agreements will be formalized at the respective District Commissioner (DC) offices.

In addition to investment agreements, the cabinet has introduced the Dynamic Assured Career Progression (DACP) Scheme, 2025, aimed at retaining medical professionals in Assam’s medical colleges. This scheme provides financial benefits to faculty members, including government-backed loan assistance for vehicles, state-funded participation in national and international seminars, and salary enhancements to match AIIMS standards.

“To support academic growth, faculty members will receive sponsorship for two national seminars annually. They will also be eligible to attend Asian seminars every two years and those in the US or UK every three years, with expenses covered by the state,” Sarma said, highlighting the initiative’s role in curbing brain drain from Assam.

Additionally, the Assam Cabinet introduced the Textile and Apparel Policy, Assam 2025, aimed at attracting investments by streamlining access to raw materials and manpower. The state has also updated its Biotechnology Policy to align with the BioE3 policy, fostering a more conducive environment for biotechnology growth.

Among other major decisions, the cabinet extended the tenure of the 6th Assam Finance Commission until March 31, 2026. The government also sanctioned Rs 55.45 crore for urban infrastructure development in Tier 2 and Tier 3 cities. To address traffic congestion in Dibrugarh, the state has approved the construction of a flyover at Amolapatty Junction on NH-37 at a cost of Rs 157 crore.

With the Advantage Assam 2.0 summit poised to attract significant investments, Assam is positioning itself as a prime destination for industrial expansion and infrastructure development.