Prime Minister Narendra Modi launched the Advantage Assam 2.0 summit aimed at boosting investment and infrastructure development for Assam and the northeastern region during his speech on Tuesday. He welcomed attendees to the event, highlighting the initiative as monumental for linking Assam’s potential to global progress.
"Today, East India and the Northeast begin a new chapter toward the future, and 'Advantage Assam' embodies the spirit of transformation," Modi said, expressing his aspirations for the region’s contributions to the country’s advancement. He referred back to 2013, when he envisioned Assam as thriving. Modi stated, "Despite global uncertainties, there's one certainty: the rapid growth of India."
Modi underlined India's long-term outlook for the next 25 years and noted increasing global trust in the young Indian populace, who are rapidly becoming skilled and innovative. He observed the rising confidence among the new middle class exiting poverty with fresh aspirations.
The Prime Minister emphasized the importance of stability, stating, "The world places its trust on 1.4 billion Indians who support political stability and continuous reforms." He pointed out the advancement of local supply chains and free trade agreements with various global regions, underscoring strong connectivity with East Asia as well as new economic corridors between India, the Middle East, and Europe.
According to Modi, the contributions of Assam to India’s growth have been steady. He stated the economic value of Assam had grown from approximately 2.75 lakh crores at the first Advantage Assam summit in 2018 to around 6 lakh crores today, crediting this doubling of the economy to both state and central government efforts.
Assam has undergone remarkable transformations with numerous investments, focusing on education, skill development, and creating favorable conditions for investment. Modi noted significant infrastructure development, citing how only three bridges over the Brahmaputra River were constructed over 70 years before 2014, whereas four new bridges have been built over the last decade, including one named after Bhupen Hazarika.
He revealed the rise of Assam's railway budget from 2,100 crores from 2009 to 2014 to over 10,000 crores now, highlighting upgrades at over 60 railway stations and the launch of the Northeast’s first semi-high-speed train connecting Guwahati and New Jalpaiguri.
Modi discussed the expansion of air services, stating flights were limited to seven routes until 2014, whereas now nearly 30 routes operate, boosting local economies and creating job opportunities for youth.
He indicated enhancements are not limited to infrastructure, noting unprecedented improvements to law and order through multiple peace agreements signed over the past decade. He reiterated, "Every region, every citizen, every youth is tirelessly contributing to Assam's development."
The Prime Minister highlighted significant reforms across all sectors of the economy, consistently improving the ease of doing business and establishing a comprehensive ecosystem to promote industry and innovation.
Policies for startups and manufacturing—along with tax exemptions for new industries and small to medium enterprises—have been launched, as well as substantial investments directed toward national infrastructure.
Modi stated, "The combination of institutional reform, industry, infrastructure, and innovation is the foundation for India’s progress," adding advantages seen recently in Assam as it aims to achieve a $150 billion economy by 2030, backed by the commitment of talented citizens and government support.
He described Assam as the gateway between Southeast Asia and India, emphasizing the launch of the 'Onaty' initiative to boost industry, investment, and tourism throughout Northeast India, particularly Assam.
Modi pointed to Assam's natural resources and strategic location making it ideal for investments, citing tea as its global brand over the last 200 years as inspiration for growth across multiple sectors.
Addressing global economic shifts and the demand for resilient supply chains, he described India's mission for elevative manufacturing under the 'Make in India' initiative, spotlighting sectors like pharmaceuticals, electronics, and automobiles.
He confidently expressed, "India is not only addressing local demands but setting new production standards internationally," adding Assam's pivotal role in this manufacturing revolution.
Modi indicated more than 50% of India’s natural gas production originates from Assam and cited significant increases at Assam’s refineries over recent years, along with rapid advances in electronics, semiconductors, and green energy sectors.
He acknowledged Assam's emergence as a hub for high-tech industries and startups, mentioning the approval of the Namrup-4 factory project aimed at producing urea to meet future demand across the Northeast and India.
"Today is not far when Assam becomes the main manufacturing hub of East India," he noted, showcasing the central government's unwavering support for the Assam administration.
He asserted technological advancement and digital revolutions would dictate the future positioning of countries in the 21st century: "The more prepared we are, the stronger we will be globally."
Concluding, Modi highlighted India’s tremendous leap in electronics and mobile manufacturing over the past decade and expressed hopes of duplicative success with semiconductor production, highlighting the establishment of Tata semiconductor assembly and testing facility located in Jajpur, Assam, which would greatly bolster technological growth across the Northeast region.
He confidently proclaimed the electronics sector might reach $500 billion by the end of this decade, stating, "With India's momentum and scale, the country will emerge as a major player in semiconductor production, generating opportunities for millions and benefitting Assam's economy."