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Hope to convert around 80% of investment proposals into reality: Assam CM Sarma
According to the CM, the first version of Advantage Assam held in 2018 had attracted investment proposals of around ₹1.5 lakh crore
Assam chief minister Himanta Biswa Sarma on Friday stated that the state government hopes to convert around 80% of the investment proposals made during this week’s Advantage Assam 2.0 infrastructure and investment summit into reality in the coming years.
The summit, which was attended by Prime Minister Narendra Modi, prominent Union ministers, industrialists Mukesh Ambani, Gautam Adani and Anil Agarwal along with business delegations from several foreign countries saw investment and infrastructure proposals worth over ₹5.18 lakh crore
“Usually, a strike rate of 50% of total investments promised turning into reality is considered good. I am hoping that we will be able to convert around 80% of the proposals made at the summit into reality,” Sarma said while disclosing details of the summit.
According to the CM, the first version of Advantage Assam held in 2018 had attracted investment proposals of around ₹1.5 lakh crore and around ₹70,000 crore of that had turned into reality in subsequent years.
Reliance Industries Limited (RIL), Adani Group and Vedanta Resources Limited (VRL) have promised to invest ₹50,000 crore each in diverse sectors in the state ranging from power, hydrocarbons to hospitality while Tata Power also proposed an investment worth ₹30,000 crore.
Also Read:Road projects worth around ₹55,000 crores to be started in Assam: Gadkari
The central government also assured investments during the summit with Union minister for road transport and highways, Nitin Gadkari announcing road and infrastructure projects valued at around ₹55,000 crore and Union shipping and ports minister Sarbananda Sonowal committing ₹4,800 crore.
“In order to ensure that these proposals turn into reality we will face challenges in allocating land, incentives and a good working environment to the investors. We hope to overcome them in coming days and months,” said Sarma.
The CM also spoke on the scaling up of infrastructure and communications network in the state by the Centre in the past ten years.
The Tata Group set up a semiconductor unit by investing ₹27,000 crore.
“Assam has now transformed into a peaceful state where there’s stability. In coming years, it will become a manufacturing hub for many things including semiconductor chips, hydrocarbons and green energy,” said Sarma.
