Assam Cabinet Approves Rs 1.22 Lakh Crore Investments for Business Summit

The Assam Cabinet approved investment proposals worth Rs 1.22 lakh crore ahead of the Advantage Assam 2.0 Investment and Infrastructure Summit. Chief Minister Himanta Biswa Sarma stated that all MoUs will be scrutinized before approval. Prime Minister Modi will inaugurate the summit attended by global ambassadors and business delegations.

The Assam Cabinet has greenlit investment proposals amounting to Rs 1.22 lakh crore as a precursor to the second edition of the state's business summit. This announcement came from Chief Minister Himanta Biswa Sarma following a detailed review of all proposals by the Cabinet.

Addressing a press conference, Sarma emphasized the rigorous scrutiny process for MoUs to ensure rational and reasonable outcomes. Among the rejected proposals was a batch worth Rs 45,000 crore that was deemed to be based on "flimsy grounds." The Advantage Assam 2.0 Investment and Infrastructure Summit will see participation from ambassadors of over 60 countries, top Indian industrialists, and is set to be inaugurated by Prime Minister Narendra Modi.

Focusing on diverse sectors such as handloom, textile, power, and mining, the approved MoUs are predicted to spur investment and employment. Sarma also highlighted upcoming policy approvals, including the Textiles and Apparel Policy 2025 and modifications to the biotechnology policy to foster a more investor-friendly climate in the state.