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Monday, October 2, 2023

Assam’s business-friendly ambitions embodied in new investment policy

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HT Bureau

GUWAHATI, Aug 19: In a strategic move to drive economic growth and ensure harmonious development, the Assam government has unveiled the Assam Industrial and Investment Policy (Amendment), 2023, bolstered by a newly formed Empowered Committee. This Committee, led by the industries and commerce minister, will meticulously assess investment proposals under the new policy to ensure alignment with the state’s developmental goals.

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With its progressive approach, the policy is already yielding positive outcomes, with five companies in the process of establishing units in the state, poised to infuse approximately Rs 3,000 crore into the economy.

Chief minister Himanta Biswa Sarma, taking to the platform X (formerly known as Twitter) on Saturday, extended an enthusiastic invitation to potential investors. He affirmed the state’s commitment to cultivating a business-friendly ecosystem and spotlighted Assam’s array of opportunities.

“We are committed to create a business friendly atmosphere in Assam and welcome potential investors to explore the diverse opportunities that the State offers. We will extend all help required to make the process seamless and rewarding,” chief minister Sarma’s tweet expressed.

Aligned with this commitment, the Assam government has introduced the Assam Industrial and Investment Policy (Amendment), 2023, envisioning a transformation of Assam into a preferred investment destination, attracting large-scale projects and fostering economic dynamism.

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A notable highlight of the policy is the introduction of Customized Incentives tailored for mega projects. To qualify for these incentives, projects must meet specific criteria, including an initial investment of Rs 100 crore and the creation of 200 permanent employment opportunities, with a reservation of all Grade III and Grade IV employment for state domicile residents.

The spectrum of incentives encompasses:

  • Capital Investment/Production Linked Subsidy
  • Subsidy on Power Tariff
  • Subsidy on Land
  • Subsidy on Drawl of Power Lines
  • Stamp Duty Reimbursement
  • Employment/Payroll Subsidy
  • Any other relevant incentives

The confluence of visionary policies and proactive initiatives signals Assam’s resolute journey towards becoming an investment haven and a catalyst for holistic progress.

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The Hills Times
The Hills Timeshttps://thehillstimes.in/
The Hills Times, a largely circulated English daily published from Diphu and printed in Guwahati, having vast readership in hills districts of Assam, and neighbouring Nagaland, Meghalaya, Arunachal Pradesh and Manipur
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