PM Modi kicks off Advantage Assam 2.0; Adani, Ambani lead investment push with ₹1 lakh crore pledge

Prime Minister Narendra Modi inaugurated the Advantage Assam 2.0 Investment and Infrastructure Summit on Tuesday in the presence of industry captains and business delegations from foreign countries.

Addressing the two-day summit in Guwahati, Modi called Advantage Assam a “great campaign to connect the whole world with the potential and progress” of the northeastern state.

“History is witness that even earlier Eastern India used to play a very big role in the prosperity of the country. Today, when India is moving towards development, once again, Eastern India is at the forefront. Our Northeast is going to show its potential,” he said.

The prime minister also spoke of Assam’s transformation, recalling how the state's economy has doubled in six years.

"Today, Assam has become a state with an economy of about ₹6 lakh crore. That means, in just six years of BJP government, the value of Assam's economy has doubled," he said, crediting the BJP-led administration for the progress.

Modi highlighted Assam’s infrastructural strides, pointing out how the number of bridges over the Brahmaputra has doubled in a decade. "Before 2014, there were only 3 bridges on the Brahmaputra river, but in the last 10 years, we have built 4 new bridges, one of which we have named after Bharat Ratna Bhupen Hazarika ji. Our government increased Assam's railway budget by more than four times to ₹10,000 crore" he said.

Big businesses back Assam

Industry heavyweights came forward with major investment commitments.

Adani Group chairman Gautam Adani pledged ₹50,000 crore for projects spanning airports, city gas, cement, and road infrastructure.

"Assam is on a path to greatness and at the Adani Group, we are honoured to walk this path alongside you," Adani remarked.

Reliance Industries chairman Mukesh Ambani also announced an investment of over ₹50,000 crore in Assam over the next five years.

"Because of the popularity of Assam tea, until now, Assam is known as the tea paradise. In the coming years and decades, I am sure Assam will be known to the world also as a technological paradise.”

“Reliance will establish an AI-ready data centre in Assam, which will benefit students with AI-assisted teachers, patients with AI-assisted doctors, agriculture will benefit from AI-assisted farmers, and AI will help Assam's youth to learn from home and earn from home," he added, highlighting how Reliance’s past investments in Assam have already crossed Rs 12,000 crore.

Tata group chairman Natarajan Chandrasekaran 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.

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 summit welcomed representatives from 61 countries, including Bhutan, Thailand, Singapore, South Korea, Malaysia, Indonesia, and Japan.

Union ministers S Jaishankar and Jyotiraditya Scindia are scheduled to preside over various sessions on Tuesday.

Jaishankar, the external affairs minister, will preside over the sessions - 'Advancing Indo-Bhutan Economic Partnership' and 'Act East, Act Fast and Act First', while Scinidia, the minister for communications and DONER, will preside over the session 'Way to Viksit Assam'.

The other thematic sessions during the day include Assam Tea-200 years of Industry, MSME, Assam tourism, health horizons, and biomanufacturing and bio-foundries.

On the second day of the summit, union ministers Ashwini Vaishnaw, Hardeep Singh Puri, Sarbananda Sonowal and Piyush Goyal will be present, while Nitin Gadkari will address a session virtually.

Vaishnaw will address the session on 'Advancing semiconductor horizons', Puri on Hydrocarbons, and Goyal on export promotion, while Gadkari, Vaishnaw and Sonowal will address the session on road transport, railways and shipping respectively.