Assam Government secures MoUs worth Rs 5 lakh crore during Advantage Assam 2.0 Summit

Guwahati: Industries and Commerce Minister Bimal Borah said on Wednesday that the Assam government has obtained investment pledges totaling almost Rs 5 lakh crore via a number of Memorandums of Understanding (MoUs) at the just-completed Advantage Assam 2.0 summit.

“Advantage Assam 2.0 took place with great success on February 25–26. We will now examine each MoU department by department. Approximately Rs 5 lakh crore in MoUs were signed in various industries. A committee will be established, and after examination, talks will take place on the implementation of all projects here,” Borah informed the media report.

Assam Chief Minister Himanta Biswa Sarma claims that at the two-day Advantage Assam 2.0 summit in Guwahati on February 25–26, announcements and investment pledges of more than Rs 5.18 lakh crore were made.

“We will go into great detail on the MoUs starting next month. “On a conservative note, it (the total MoUs) has the potential to provide employment to 2 lakh youths,” CM Sarma said reporters.

Even if Assam is able to execute 70% of the agreed Memorandums of Understanding, the Chief Minister said that the state would be in the next level of development within the next five years.

One of the most anticipated announcements during Advantage Assam 2.0 was the Rs 50,000 crore investment made by Reliance Industries Chairman Mukesh Ambani, which included the construction of a seven-star hotel and a massive food park in Guwahati.

Gautam Adani, the chairman of the Adani Group, said that he will spend Rs 50,000 crores in Assam for projects including roads, cement, aerocity, defense, and airports.

With an expenditure equal to that of its semiconductor factory now under development, the Tata Group has said that it would establish an electronics manufacturing facility in Assam. Rs 27,000 crore is being spent by the Tata Group on the semiconductor factory.