Assam to hold its first global investors summit in Feb 2018

India's gateway to northeast India, Assam is all set to hold its first Global Investors Summit on February 3 and 4, 2018.

The summit will be inaugurated by Prime Minister Narendra Modi and business delegations from the ASEAN countries as well as countries like Japan, UK, USA, and Canada are expected to attend the event.

Business tycoons, including Tata, Ambani and Godrej, have held closed door meetings with Chief Minister Sarbananda Sonowal on substantial investments to be made in the state.

According to KPMG and World bank report, Assam ranks 22nd among Indian states based on ease of doing business and reforms implementation.

Assam is the largest economy in the northeast region and acts as a vital hub for trade and connecting with ASEAN countries.

Owing to its relative proximity to the rest of the country and availability of quality infrastructure, the state offers a favourable environment for industry.

This is the primary reason that the state has adopted numerous investor-friendly policies to attract investments and accelerate industrial development.

Apart from the traditional sectors of tea and oil, the state enjoys advantages in a number of sectors like organic cultivation, food processing, tourism, renewable energy and petrochemicals and the government has come up with sector specific policies to promote investments in 10 sectors.

The chief minister has also made a strong pitch for improved connectivity.

Apart from a major infrastructure push, the chief minister recently announced a provision of Rs 100 crores to help establish air connectivity with ASEAN countries.

With such a concerted effort, expectations are high that the state will soon join the bandwagon of high growth states in India, says the report.