Assam made its debut at the World Economic Forum in Davos, with CM Himanta Biswa Sarma positioning it as India's fastest-growing state. He pitched Assam as a prime destination for investments in green energy, semiconductors, and tourism.
Assam made its debut at the 56th World Economic Forum in Davos on Monday, positioning itself as India's fastest-growing state and a prime destination for green energy, semiconductors, and tourism investment.
Making a strong pitch to global investors at the World Economic Forum in Davos, Assam Chief Minister Himanta Biswa Sarma urged them to invest in "emerging state and emerging economy."
Assam's Pitch as an Emerging Economy
In an interview with ANI on the sidelines of the forum, Sarma said, "Assam is coming to the World Economic Forum Davos for the first time. We want to send a message that Assam is now an emerging state and an emerging economy. When you are thinking of investing in India, you can consider Assam as one of the destinations. Assam is now officially the fastest-growing state in the country."
Assam is at WEF Davos for the first time, aiming to signal that it is an emerging economy and a viable investment destination within India. The state is now the fastest-growing in the country, according to recent RBI data. "Reserve Bank of India has released the data, and it's clearly established that Assam is growing rapidly, and we are at the top of the chart. There are many reasons why people will and invest in India. Yesterday, the IMF revised the growth projection of India above 7 per cent. Within India, I think that the time has come for people go to the diverse states, the diverse regions, and harness the potential of those regions also. I think Assam will be able to give a good platform for investment," he added.
"The IMF has revised India's growth projection to above 7 per cent. Within India, the time has come for investors to look beyond traditional hubs and explore diverse regions like Assam."
Investment Progress and Future MoUs
Last year's Advantage 2 Summit generated MoUs worth about ₹5 lakh crore. Roughly ₹3 lakh crore of that has already been "grounded" - land allocated, projects underway. New proposals are emerging, including a solar plant and a Palm Storage Project.
"During the Advantage 2 Summit, we signed MoUs worth around Rs 5 lakhs crore. Investments amounting to almost Rs 3 lakh crore have been grounded. Already, work has started, people have taken land, and all these are in progress. As a corollary to that, a certain new proposal has come. If an industry has initially gone to Assam to set up a solar plant, now they are saying that let us do PSP (Palm Storage Project) also... In this visit, our entire MoU will be focused on green energy and new energy. Other kinds of investments, we can sign in India also, or that's a routine exercise. But here, the Palm storage project, which is a unique opportunity provided by Assam and the conversion of bamboo to methanol are other areas. I think we are going to sign MoUs close to Rs 1 lakh crore during my stay in Dabos," he said.
Focus on Green and New Energy
The current Davos visit is centered on green and new energy. The state expects to sign MoUs close to ₹1 lakh crore during the trip, covering PSP and bamboo-to-methanol conversion. Other routine investments will be signed back in India.
Sector-Specific Discussions
Semiconductors and Ecosystem Development
A meeting with semiconductor industry leaders is scheduled, in partnership with Tata. While no concrete deal is on the table yet, the presence of Tata is helping develop an ecosystem in Assam, and discussions are expected to move forward. "With Tata setting up operations, the semiconductor ecosystem is gradually developing. We are meeting leaders from the semiconductor industry here in Davos. While nothing is on the table yet, these interactions will help move things forward," said Sarma.
Tourism and Hospitality Pipeline
Several investment offers for hotels and homestays are already in the pipeline. While no new MoUs will be signed at Davos, upcoming agreements in Guwahati will bring 5-star hotels to the city and to Kaziranga. "We have a lot of investment offers for hotels, homestays, a lot of things are there already on the cart. In Davos, I am not signing any fresh MoU but going back to Guwahati, we have lined up a few MoUs for setting up 5-star hotels in Guwahati and Kaziranga," added the Assam CM.
Positioning as Gateway to the Northeast
Assam sees itself as a gateway for the entire Northeast. Projects located in Assam, such as Tata's semiconductor plant, benefit the whole region, including hilly states that lack flat land for large industries. The state provides land and an ecosystem for youth across the Northeast, so investment in Assam spreads to the broader region.
"Assam is the gateway to the Northeast. When investment comes to Assam, it benefits the entire region. Industries may be located in Assam, but they draw talent from all northeastern states," said Sarma. He noted that while several hill states prioritise ecological preservation, Assam's plains offer the land and infrastructure needed for industrial development. "Assam provides the ecosystem that supports growth across the Northeast. If one rupee comes to Assam, it automatically benefits the entire region," the Chief Minister said.
Assam's debut at Davos showcases a state that is not only growing rapidly but is actively seeking foreign capital in high-tech and sustainable sectors. By linking its own growth to the broader Northeast, Assam is positioning itself as a regional hub, leveraging its flat land and improving infrastructure to attract industries that other northeastern states cannot accommodate. (ANI)
(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)