Assam Attractive Investment Destination In North East India
Assam is known as the gateway to the northeastern part of India
. The capital of the state is Dispur, which is located in the city of Guwahati.The state is renowned for its tea, petroleum resources, silk, and a rich biodiversity. Assam is also home to the one-horned Indian Rhinoceros, Asian elephant, tiger, and a number of species of birds. The mighty river Brahmaputra flows through the state providing the region with hydroelectricity. The river and its tributaries make the land extremely fertile and provide water resources.
The state of Assam has the largest economy amongst all northeastern states of India. Tea and petroleum sectors are the main contributors to the state economy. Assam tea is known all over the world as a premium brand. Because the state is blessed with abundant resources of natural gas and hydropower, generation of electricity is cheap and easy. The telecommunication network in the state is also expanding rapidly. Guwahati is the heart of the telecommunication and transportation network in the northeast region.
The state is also a source of raw materials for many neighboring states. All commercial and trade-related activities take place in Guwahati. The state serves as the largest domestic market in the northeastern region of the country. Besides, it has the largest number of educational institutes in the entire northeastern region. Assam has a good transportation network that includes railways, roadways, airways, and waterways.
The strategic location of Assam makes it accessible to southeastern Asian countries. The state acts as a base for domestic investors interested in expanding their business to the markets of Malaysia, Thailand, Indonesia, and the Philippines. Moreover, the proximity of the state to neighboring countries such as Nepal, Bhutan, and Bangladesh plays a major role in attracting foreign investors to the state.
Thanks to the river Brahmaputra, the state has some of the most fertile land in the country. It is suitable for production of cash and food crops. The state is also rich in natural resources of coal, rubber, limestone, and granite, in addition to oil and natural gas. The state is also known for its arts and crafts, which support a number of cottage industries, such as hand loom, carpentry, and sericulture.
Other than these sectors, investment potential in Assam also exists in other industries:
1. Cane and bamboo: This sector has been identified as a key sector for the state's development. The bamboo and cane furniture of Assam is sought after greatly in the domestic and international markets.
2. Brass and ball metal: Assam is known for its beautiful and strong brass work. The brass and ball metal work is a traditional industry of Assam. The main products are plates, pitchers, pots, and items for interior decoration.
3. Sericulture and hand loom: The climate of Assam is extremely suitable for growth of the sericulture and hand loom industry. The state has the highest number of weavers and hand looms in the country. Assam produces a variety of silks but it is mostly known for its muga silk.
The government of Assam has initiated a number of projects to attract more investments in the state.
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