Assam to emerge as a major investment destination: Gogoi

Rich in natural resources, Assam is set to emerge as a major investment destination of India in near future, said Assam Chief Minister Tarun Gogoi.

"The state has oil, gas, coal, limestone and other natural resources, besides the availability of abundant surface as well as ground water. The landlocked North-Eastern region has now received attention as India's land bridge to East and South East Asia as part of India's Look East Policy. With these potentials and developments, I can tell you with confidence that Assam is soon going to emerge as a major investment destination in India," said Gogoi. The chief minister was speaking at Chatham House conference on 'India: Regionalization, Reform and Investment' in London yesterday. Advocating Foreign Direct Investment (FDI) in retail, Gogoi said, "If India has to emerge as an economic power, then it must allow FDI in the retail sector in a big way."

Gogoi said India had always managed to capture the world's imagination and many institutions were curious to learn about the Indian growth prospect in the context of economic reforms, regionalised politics, impending election and new areas for investment.

Delivering the keynote address before an elite gathering at Chatham House, Gogoi said, "India is an amazing country with several thousand-years of history of civilization. It is the world's largest vibrant democracy and second most populous country with a population of 1.2 billion people. India was once the wealthiest, prosperous, advanced country in the world - be it science, education, astronomy or spirituality. The gross domestic product of India in the 16 century was estimated at about 25 of the world economy."

On regionalisation, Gogoi said, "Regionalisation has been there all along. India is a country with 28 different states with different languages, cultures, food habits and dresses - full of diversity. Diversity of India and regional aspirations leads to regionalisation," he said, adding, "Over the years regionalism and regionalisation have come to symbolise aspiration for decentralised planning and development which in turn provide a key motive force for the central Government. India is a mature democracy and fully capable of balancing regional needs and aspirations with the overall national goals." The Chatham House has been at the forefront of global discourse on contemporary politics and foreign policy and many global think-tanks are associated with this premier institution.