Page 19 - Assam

World Bank bullish on India, reaffirms confidence in its economic potential

The World Bank on Wednesday expressed strong confidence in the Indian economy and appealed to all to come and invest in the country. Speaking at the Advantage Assam 2.0 Business Summit, World Bank country director Auguste Tano Kouame said the lender remains optimistic about India's economic prospects, despite a slight downward trend in growth. "We are not worried about India's growth at the moment. We are very bullish about India and will remain bullish," he added. He emphasised that fluctuations of one percentage point in economic growth do not alter the World Bank's positive outlook. "If somebody is worried about recent data, we would like to say that don't worry. India is the shining light in the world. If you are looking to invest, then come and invest here. The Indian growth makes it the place to invest," he added. For the current fiscal, the Reserve Bank of India (RBI) projected the economic growth at 7.2 per cent in December 2024, compared to 8.2 per cent in 2023-24.

Govt to spend Rs 4,800 cr for waterways development in Assam: Sonowal

Union minister Sarbananda Sonowal said on Wednesday that the Centre will spend Rs 4,800 crore for developing waterways and related infrastructure in Assam in the next five years. The ports, shipping and waterways minister was speaking at a session on the state's road, railway and riverine infrastructure at the 'Advantage Assam 2.0 Investment and Infrastructure Summit' here. "I want to announce that in the next five years, Rs 4,800 crore will be spent by my ministry in Assam," Sonowal said. The amount will be spent on various works, like building a ship repair facility, construction of alternate roads for ports and development of terminals. Sonowal said a centre of excellence in maritime education will also be established in the state, which will provide 5,000 skilled youth to the shipping industry annually. The union minister also highlighted the importance of waterways in economic development and maintained that the sector has received a major boost since the BJP-led government t

Star Cement proposes Rs 3,200-cr plant in Assam, agreement signed

Star Cement Ltd has proposed to set up a Rs 3,200-crore cement clinker and grinding plant in Assam. A Memorandum of Understanding (MoU) in this regard was signed between the state government and the company on the concluding day of the Advantage Assam business summit on Wednesday, Chief Minister Himanta Biswa Sarma said. Apart from this, an agreement was inked between the state government and Matheson Hydrogen Lvt Ltd, which is willing to set up a Rs 1,500-crore hydrogen and steam generation plant. The state government also signed a Rs 500-crore MoU with Global Health Ltd, while two non-financial agreements were signed with ITE Education Service. Sarma said he was grateful to the companies for their support, and noted that more agreements will be signed during the day. A total of 164 MoUs of investment proposals with companies in 15 sectors were signed on day one of the 'Advantage Assam 2.0 Investment and Infrastructure Summit 2025' on Tuesday.

Ashwini Vaishnaw unveils major infra, IT initiatives at Advantage Assam 2.0

Union Minister of Railways, Electronics & Information Technology, and Information & Broadcasting, Ashwini Vaishnaw participated in the Advantage Assam 2.0 Investment and Infrastructure Summit held in Guwahati and announced several key initiatives and projects aimed at accelerating the growth of the railway and IT industries in the region.Highlighting the government's commitment to enhancing infrastructure and industrialization, Vaishnaw described the North East as the "New Engine" for India's development. He unveiled plans for a new semiconductor plant in Assam, reinforcing the state's growing role in electronics and semiconductor manufacturing.Additionally, he announced that Guwahati Railway Station would be transformed into a new IT hub, further strengthening the region's digital infrastructure.The Minister underscored the government's success in constructing 1,824 km of new railway tracks in Assam and the North East since 2014. He also noted the commissioning of two ...

Biz summit day 1: Assam receives Rs 2.5 trillion investment proposals

Out of the total announcements, Rs 1.89 lakh crore of investments were cemented in the form of 114 agreements signed between various companies and the Assam government

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Semiconductor plant created an entire ecosystem in Assam: Ashwini Vaishnaw

Union minister Ashwini Vaishnaw on Tuesday said the semiconductor plant in Assam's Morigaon district has created an entire ecosystem, attracting investment interest from multiple countries. Speaking at a session on semiconductors, the minister for railways, electronics and information technology said the setting up of the semiconductor assembly unit at Morigaon will position Assam as a major hub and very soon, another such unit will be set up in the state. Several companies from Singapore, Malaysia, and Japan are expected to sign Memorandums of Understanding (MoUs) and set up offices near the semiconductor plant, he added. "Apart from semiconductors, Assam will soon have manufacturing units for mobile phones and electronics, further boosting the state's industrial landscape," he said. The decision to set up the National Institute of Electronics and Information Technology (NIELIT) University was taken a few months ago at Jagiroad on encroached railway land, the minister said. "The

'Who else will know fragrance of tea better than a chaiwala': PM in Assam

PM Modi today praised the Kaziranga National Park and claimed that he is the first ever Prime Minister of India who stopped at Kaziranga

JSW Group to invest in cement, renewable & thermal power sectors in Assam

Advantage Assam 2.0 Summit: Sajjan Jindal spoke on the strategic importance of the Northeast in India's economic trajectory, noting the region will play a crucial role in India's economic growth

Vedanta to invest Rs 50,000 cr oil, gas in Assam, Tripura over 3-4 yrs

Mining major Vedanta Group chairman Anil Agarwal on Tuesday announced that it will pump in Rs 50,000 crore in Assam and Tripura's oil and gas sector over the next 3-4 years. Speaking at the inaugural function of the Advantage Assam investment summit here, he said group firm Cairn Oil & Gas has already invested around Rs 2,500 crore in the two states of the northeast region. "Assam has abundant natural resources and potential to become the world's mega basin. We are poised to play a pivotal role in Assam's sustainable growth and development," he said. Agarwal said that the company has firmed up plans to "invest Rs 50,000 crore in Assam and Tripura's oil and gas sector over the next 3-4 years". "With such an investment, we will produce 1,00,000 barrels of oil and gas per day, making the region a dominant hydrocarbon hub. It will also create direct and indirect employment opportunities for 1 lakh youths," he added.

Tata to invest in key electronic mfg unit, green energy in Assam: Chairman

Tata group chairman Natarajan Chandrasekaran on Tuesday said the company will invest in a large electronics manufacturing unit in Assam over the next few years and collaborate with the state government in the green energy sector. Speaking at the inauguration of the Advantage Assam business summit, Chandrasekaran said, "The Tata group has a long and significant association with Assam." He highlighted the Rs 27,000 crore semiconductor unit coming up in Jagiroad as "the most significant investment in the state so far." "Taking forward the group's commitment towards the state, it will invest in another large electronics manufacturing unit soon," he added. The group will also partner with the state government in the green energy sector, with commitment to invest in solar and other renewable power generation, Chandrasekaran added.

SC reserves verdict on Assam 'fake' encounters after state defends probe

The Supreme Court was on Tuesday informed by the Assam government that the 2014 guidelines for investigating police encounters were duly followed in the state and unnecessary targeting of security forces was demoralising. Following the submission, a bench of Justices Surya Kant and N Kotiswar Singh reserved the verdict on a plea seeking an independent investigation over 171 alleged fake police encounters in Assam between May, 2021 and August, 2022. Solicitor general Tushar Mehta, representing the Assam government, said the Supreme Court's guidelines for the investigation of police encounters in the 2014 case of PUCL v. Maharashtra were being "followed to the hilt". Mehta added, "All the necessary protocols are followed and safeguards taken. If they (security personnel) are guilty, they need to be punished but if they are not guilty, then they need to be protected by the state. Unnecessary targeting may have a demoralising effect on security forces especially the conditions they have

Assam emerging as start-up hub, to drive NE manufacturing growth: PM

Prime Minister Narendra Modi on Tuesday said Assam is turning into a destination for start-ups and will soon become a hub of manufacturing in the northeast region. Assam has emerged as a "land of limitless opportunities" with peace accords signed with insurgent groups and resolved border disputes, PM Modi said after inaugurating 'Advantage Assam 2.0 Investment and Infrastructure Summit' here. "Assam is a land of limitless opportunities with peace accords and resolved border disputes. The state is moving fast towards development. Assam's natural resources and strategic location as a gateway to South East Asia have made the state a preferred destination for investors," Modi said. He added, "Assam is turning into a destination for start-up units and will become a manufacturing hub for the northeast soon." Modi also asserted that the value of Assam's economy has doubled to Rs 6 lakh crore during the BJP rule, and this is an effect of the 'double-engine' government. "Amid global ...

Mukesh Ambani and Gautam Adani announce Rs 50,000 crore investment in Assam

Advantage Assam 2.0 Summit: This announcement comes a day after Adani announced a Rs 2.1 trillion investment in Madhya Pradesh during the Madhya Pradesh Global Investors Summit in Bhopal

State to have $143 bn economy by 2030: CM Himanta at Advantage Assam 2.0

Assam will have a USD 143 billion economy by 2030, Chief Minister Himanta Biswa Sarma claimed on Tuesday, urging investors to join the state's growth trajectory. Speaking at the inaugural function of the two-day 'Advantage Assam 2.0 Investment and Infrastructure Summit' here, Sarma emphasised that the state has emerged from being the "most disturbed" to the "most peaceful" now. "The state's GDP growth this year will be 15.2 per cent. The economy will reach USD 143 billion by 2030," he claimed. "I can assure you today that we will ensure the best working and congenial atmosphere for establishing industries in Assam. Please come and invest here," Sarma said, in the presence of heads of missions and ambassadors of over 60 nations, foreign business delegations and industry leaders of the country. The state has seen a resurgence since 2014, when the BJP-led government under Prime Minister Narendra Modi came to power at the Centre, he said. "After Independence, Assam's economy started t

PM Modi to inaugurate, address two-day Advantage Assam 2.0 Summit today

Prime Minister Narendra Modi is scheduled to inaugurate Advantage Assam 2.0 Investment and Infrastructure Summit on Tuesday in the presence of industry captains and business delegations from foreign countries, officials said. Assam Governor Laxman Prasad Acharya and Chief Minister Himanta Biswa Sarma will also be present on the occasion. The prime minister will address the inaugural session of the two-day summit after prominent industrialists of the country and the state deliver their speeches. The industry captains scheduled to be present in the programme are Reliance Industries Limited's Mukesh Ambani, Adani Groups' Gautam Adani, JSW Group's Sajjan Jindal, Essar's Prashant Ruia, Vedanta's Anil Agrawal, among others. Ambassadors of 61 countries will also be present on the occasion along with representatives of high-level business delegations from partner countries such as Bhutan, Thailand, Singapore, South Korea, Malaysia, Indonesia and Japan. Union ministers S Jaishankar and ...

PM Modi to arrive in state today, inaugurate Advantage Assam 2.0 on Feb 25

Prime Minister Narendra Modi is scheduled to arrive here on Monday evening on a two-day visit to Assam, Chief Minister Himanta Biswa Sarma said. The prime minister on his arrival will drive to the Sarusajai Sports Complex where he will witness 'Jhumoir Binanandini', a dance performance by nearly 9,000 artistes of the tea tribe community. Modi will make a round inside the stadium on a special vehicle and greet the artistes and spectators. The Jhumur performance will be followed by a laser show on a specific cultural theme of the state. The prime minister will then proceed towards the venue of the Advantage Assam 2.0 Infrastructure and Investment Summit to inaugurate the exhibitions being held in two galleries at the Veterinary College Field in the Khanapara area of the city. The two galleries will have on display exhibits highlighting the traditional industries of the state, titled 'Pride of Assam', and the other gallery will reflect the modern industries and infrastructure ...

Jaishankar, envoys of various nations arrive for Advantage Assam 2.0

The Assam Government is organising the second edition of Advantage Assam, which is scheduled to commence on February 25 at Khanapara Veterinary College field in Guwahati

Investment proposals worth Rs 40k cr received in 3-and-half yrs: Assam CM

Assam Chief Minister Himanta Biswa Sarma on Saturday said that investment proposals worth Rs 40,000 crore have been received in the state in the last three-and-half-years, with many of these projects in various stages of implementation at present. He was speaking at the inauguration of a new bottling plant of Reliance Consumer Products Ltd's (RCPL) Campa Cola range here. Spanning over 6 lakh sq ft, the plant, being developed in collaboration with RCPL's local partner Jericho, is among the largest beverage manufacturing units in the Northeast. It has an initial production capacity of over 10 crore litres for carbonated soft drinks (CSD) and nearly 18 crore litres for packaged drinking water. Highlighting that the facility will provide 300 direct and 1,000 indirect employment opportunities, Sarma said, "Our youth who were working outside due to lack of industrialisation in the state can now return with such plants coming up." He said MoUs proposing investment of Rs 40,000 crore have

RCP opens bottling plant in Guwahati to boost beverage portfolio in NE

Reliance Consumer Products has developed the unit in collaboration with local partner Jericho