Himanta Biswa Sarma: Five companies eager to invest Rs 3,000 crore in Assam under new industrial policy

To ensure that investments under the Assam Industrial and Investment Policy (Amendment), 2023 align with the state's growth objectives and development priorities, an Empowered Committee has been established. Led by the Industries and Commerce Minister, this committee will take on the crucial responsibility of meticulously evaluating all proposals received under the new policy.

Already, the policy is showing promising signs of success, as five companies are in the process of setting up units in the state under its provisions. These ventures are expected to contribute significantly to the state's economy, with a total investment of around Rs 3,000 crore.

Assam Chief Minister Himanta Biswa Sarma on August 19  took to social media site X to extend a warm invitation to potential investors. The Chief Minister's announcement emphasized the state's commitment to creating a business-friendly environment and highlighted the diverse opportunities that Assam has to offer.

"We are committed to creating a business-friendly atmosphere in Assam and welcome potential investors to explore the diverse opportunities that the State offers. We will extend all help required to make the process seamless and rewarding," Chief Minister Sarma wrote on the platform.

In line with this commitment, the Assam government has introduced the Assam Industrial and Investment Policy (Amendment), 2023. This forward-looking policy aims to transform Assam into a preferred investment destination, attracting large-scale projects and fostering economic growth in the state.

A notable feature of the policy is the introduction of Customized Incentives for setting up mega projects in the state. To qualify for these incentives, projects must meet specific criteria, including an initial investment of 100 crore and the creation of 200 permanent employment opportunities, with all Grade III and Grade IV employment reserved for state domicile residents.
The range of incentives under consideration includes:

Capital Investment/Production Linked Subsidy
Subsidy on Power Tariff
Subsidy on Land
Subsidy on Drawl of Power Lines
Stamp Duty Reimbursement
Employment/Payroll Subsidy
Any other incentive deemed fit