Advantage Assam- Global Investors Summit: Eye on $3 Trillion ASEAN Market
Assam with its strategic location offers a market of 800 million people as it serves as the gateway to the South-East Asian market
Inspired by the vision of Indian PM, the State of Assam is betting on big investments and looking to become a hub for trade with the ASEAN countries. It may be a step towards the Look East Policy of the current government which will have a very critical impact both on the economy and strategic front. It might also be an attempt to eye a hefty three trillion USD market of ASEAN nations, as the exports to all the ASEAN nations are falling down during last three years. (See figures)
Pitching for his state like a corporate executive while speaking on the curtain raiser of ‘Advantage Assam - Global Investors Summit’ the Assam chief minister Sarbanand Sonowal said that with Prime Minister Mr. Narendra Modi’s clarion call to transform North East of India as ‘New Engine’ of growth for the country, Assam has now become the land of potential, possibilities and prosperity. He urged industry leaders to invest in Assam, India’s Expressway to ASEAN, and assured that a safe and secure environment will be provided to them to facilitate their endeavours. Assam with its strategic location offers a market of 800 million people as it serves as the gateway to the South-East Asian market.
Indian Exports to Few Major ASEAN Nation’s:
The Assam Chief Minister also announced that the summit will commence from February 3rd, early next year (2018) and venue will be Assam’s capital Guwahati. During the event, he also unveiled the website of ‘Advantage Assam’ at a curtain raiser organized at the Imperial hotel in National Capital New Delhi.
The Summit would showcase the tremendous investment opportunities and highlight the geo-strategic advantages offered to investors by Assam. The State is emerging as the ideal destination for investments capable of catering to not only the North East and the rest of India but also to serve as the manufacturing and services hub for the ASEAN region, one of the world’s fastest growing region with an economy of more than three trillion USD.
Mr. Chandra Mohan Patowary, Industries Minister, Government of Assam, said that the Government of Assam was pro-development and was safeguarding the interests of both the investors and labor. Committed to providing a conducive and business-friendly ecosystem to investors, the government had recognized the importance of skill development and was working towards providing skilled manpower to the industry.
Enumerating the various policy initiatives of the Government of Assam, Mr. V K Pipersenia, Chief Secretary, Government of Assam, said that the state was at the centre of India-ASEAN interface and was gearing to take giant leaps towards development and prosperity. He added that issue of connectivity was being addressed. The government was enhancing airways, roadways, waterways, railways and internet connectivity in the state.
Mr. Ravi Capoor, Additional Chief Secretary, Industries & Commerce, Government of Assam, said that the Government of Assam had identified river transport & port townships; power; plastic & petrochemicals; agriculture & food processing; pharmaceuticals; IT & ITeS; tourism; and silks, as the focus sectors for investments in the state. He added that the state government was keen to develop Assam as the regional aviation hub and was looking at ways to establish direct air connectivity with neighboring countries where the flying time was between 1.5 to 2 hours.