Signing of 245 MoUs worth Rs 79,000 crore during the Advantage Assam Summit held in Guwahati from February 3 to 4 shows that Assam is indeed emerging as India’s Expressway to ASEAN. Talking to Organiser’s Senior Correspondent Pramod Kumar, Assam Chief Minister Sarbananda Sonowal unfolds his plans aimed at making the State an investment hub. Excerpts:
What are the major initiatives, which you have taken to promote investment during last one year?
Assam is on the high growth track. The Union Ministry of Road, Transport and Highways has sanctioned Rs 1,26,000 crore for development of roads and other infrastructure in the state. India’s longest bridge—Dhola-Sadiya Bridge and the soon-to-be completed Bogibeel Bridge will surely boost connectivity and business. Under ease of doing business, registration for setting up of industries and clearances can be obtained online through Single Window Clearance System. Land Bank has been created to boost industrial growth. Infrastructure creation is our major objective to attract investment. A 65-storeyed Twin Tower will be constructed in Guwahati to house top corporate offices. It will be a signature building of entire Guwahati landscape.
The Industries and Commerce Department has launched Chief Minister’s Start-up Fund ‘Sarothi’ to provide financial assistance in the form of loan with interest subvention. We have also formulated a Cess Utilization Policy for development and welfare of the Small Tea Growers. In the backdrop of all these incentives, we organised the maiden Global Investors’ Summit from February 3 to 4 in order to project Assam as India’s Expressway to the South-East Asian nations. Advantage Assam was the largest ever investment promotion and facilitation initiative of the State. The Summit showcased the opportunities offered by the State in terms of export-oriented manufacturing and services to ASEAN and BBN countries. We have also instituted some very attractive sectoral policies—Industrial Policy, Assam Start Up Policy 2017, Information Technology and Electronic Policy 2017, Handloom Policy 2017-18, Sugar Policy 2018, Biotechnology Policy 2018, Tourism Policy 2017, Solar Policy 2018, etc.
How has the response been to Advantage Assam Summit?
The Summit was inaugurated by Prime Minister Shri Narendra Modi in the presence of Royal Bhutanese Prime Minister Tshering Tobgay. Industry leaders such as Mukesh Ambani, Dilip Sanghvi, N. Chandrasekaran, Dr. Subhash Chandra, Puneet Dalmia, Dr. Narensh Trehan, Amar Abrol, Capt. Gopinath, Ajay Singh, Sanjiv Puri, Pranav Adani, Yusuf Ali, Aditya Khaitan, Sajjan Bhajanka, Subhash Ghai, Sushil Goenka, B.K. Goenka, Harshvardhan, Neotia Chairman of PSUs such as SBI, Bank of India, BPCL, ONGC, Oil India, GAIL, BCPL were also present there. The Summit witnessed participation of more than 3500 delegates and over 150 speakers from across the world. A total of 23 exhibitors showcased Assam’s rich manufacturing prowess across the sectors. High level G2B meetings were held with Ministerial and Business delegations of Bhutan, South Korea and Japan during the Summit. 245 MoUs with investment commitment totalling approx Rs 79,000 crore were signed.
How Assam is emerging as a prominent investment destination in South East Asia?
The State is the centre of vast and vibrant economy of South-East Asian market. Over 640 million consumers reside to its east, over 1000 million consumers to the west and over 155 million to its south. The growing economy and increase in purchasing power parity of the population in the catchment presents a huge market waiting to be explored. Many of ASEAN capitals are within 2,000 kilometres flying distance from Guwahati, which is comparable to flying distance of Guwahati to many Indian cities. We are keen to start flights between Guwahati and ASEAN capitals. The construction of a new terminal building at Guwahati airport has been started. There is a motorable road link and ASEAN trilateral highway connecting North East and ASEAN. The Government of India is working to improve this land route.
Assam has strong historical and cultural relations with South East Asia. Chaolung Sukapha came to Assam from South East Asia in the 13th century and established Ahom Kingdom. He laid the foundation of modern day Assam. We celebrate December 2 every year as Sukapha Divas or Assam Divas to commemorate his advent in Assam after journey over Patkai hills. Assam is blessed with large variety of natural resources and very rich bio-diversity. We are blessed with 5 National Parks and 18 Wildlife sanctuaries. While recognising this wealth as our fundamental strength, our vision is to grow in economy with the growth of ecology.
The Brahmaputra and Barak rivers along with their tributaries have huge potential for river transport, tourism and industry. In order to make the rivers navigable, dredging has been taken up. We hope to get access to the Bay of Bengal through Chittagong port in Bangladesh in near future. All these factors have been helping the State to emerge as the potential investment destination in the South East Asian Region.
How are the investment opportunities and atmosphere in Assam are different from those of other states of India?
When Modiji upgraded the decades-old ‘Look East Policy’ to ‘Act East Policy’, explicitly mentioning that ‘Act East Policy’ is key component of his government’s Foreign Policy, and that North-East India will play an important role in that policy, the region was provided with a unique opportunity—that to reinvent itself as the centre of the country’s emerging relations with the eastern neighbours, rather than being in its perpetual periphery. Sensing the potentials ready to be exploited, I have decided to establish the Act East Policy Affairs Department as an exclusive department of the State Government. The ASIAN-Trilateral Highway project (involving India, Myanmar and Thailand) and Kaladan Project (providing North Eastern India access to Sittwe Port of Myanmar), once completed will provide a fillip to industrialisation, economy, trade and commerce activities.
Besides, a branch office of the Ministry of External Affairs will be set up in Guwahati. The Assistant High Commissioner’s Office of Bangladesh has been set up in Guwahati and Bangladesh opened its Consulate office in the city on February 1. We have also requested other ASEAN countries to set up Consulates in Guwahati as part of the Act East initiative. This will result in transformation of the State and the North East Region as the new engine of growth of the country by exploiting the full potential of the region’s natural, human and cultural resources to make Assam a favourable investment destination.
What is your vision to make Assam an investment destination in the whole South East Asia Region?
The long-term strategy is to develop a robust infrastructure, including air connectivity to ASEAN countries, access to sea port through Brahmaputra, opening of international trade route connecting Myanmar, Bangladesh, Bhutan and other countries. We plan to connect the State through Trans Asian Highway and Trans Asian Railway. An 80 km industrial corridor alongside the National Highway on both sides from Amingaon to Tihu has already been notified for creating high-tech industrial city with plug and play facilities of setting up of new industries. All these will be of world class infrastructure. We will improve the existing infrastructure, simplify the procedures and amend rules to build business and create an enabling environment of Ease of Doing Business in the state.
Under Digital India programme we have ensured that Government services are made available to citizens electronically. We have signed an MoU with Google India to enhance the use of digital medium in operation of small and medium local businesses, skill development, promote digital literacy among women, putting the rich culture of our State in the global map and build up a start-up ecosystem in the State. *
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