In a strategic move to bolster economic ties and attract foreign investment, Assam Chief Minister Himanta Biswa Sarma embarked on a five-day visit to South Korea and Japan, commencing on January 19, 2025. The primary objective of this visit is to invite prospective investors and entrepreneurs to the upcoming “Advantage Assam 2.0: Investment and Infrastructure Summit 2025,” scheduled for February 25-26 in Guwahati.
Engaging South Korean Business Leaders
During his three-day stay in Seoul, Chief Minister Sarma addressed over 140 business leaders at the ‘Advantage Assam’ roadshow. He emphasized Assam’s strategic location as the gateway to Southeast Asia and highlighted the state’s policy advantages, robust infrastructure, and investor-friendly environment. Sarma underscored the Indian government’s commitment to developing the Northeast region, inviting South Korean industrialists to explore investment opportunities in sectors such as agriculture, food processing, tourism, and information technology.
Advantage Assam 2.0: A Platform for Global Investors
The “Advantage Assam 2.0” summit aims to showcase Assam’s potential as a major investment destination. The event will be inaugurated by Prime Minister Narendra Modi and will feature sessions focusing on infrastructure development, electronics and semiconductors, renewable energy, and more. The summit is part of a broader initiative to position Assam as a key player in India’s Act East Policy, leveraging its geostrategic advantages to foster economic growth and regional integration.
Global Outreach for Investment
Chief Minister Sarma’s visit to South Korea and Japan is part of a series of international roadshows planned across eight countries in January and February 2025. These roadshows aim to engage with global investors, showcase Assam’s investment potential, and build strategic partnerships. The delegation’s itinerary includes meetings with industry leaders and government officials to discuss collaboration opportunities and attract investments that align with Assam’s development goals.
Assam’s Economic Growth and Investment Climate
Assam has demonstrated a remarkable economic trajectory, recording a 19.5% year-on-year surge in its Gross State Domestic Product (GSDP) in the fiscal year 2023. This growth reflects the state’s dynamic leadership and attractive investment policies. Significant investments, such as the approximately USD 3.3 billion Outsourced Semiconductor Assembly and Test (OSAT) project by TATA in Jagiroad, highlight Assam’s ability to attract big-ticket investments and its commitment to creating a conducive business environment.
Strengthening Indo-Korean Relations
Chief Minister Sarma’s outreach to South Korean investors is expected to strengthen Indo-Korean relations, fostering economic collaboration and cultural exchange. By inviting South Korean companies to invest in Assam, the state aims to leverage South Korea’s technological expertise and business acumen to drive local development and create employment opportunities. This initiative aligns with India’s broader strategy to enhance economic partnerships with East Asian nations under the Act East Policy.
Conclusion
Chief Minister Himanta Biswa Sarma’s proactive engagement with South Korean business leaders underscores Assam’s commitment to becoming a preferred destination for global investors. The upcoming Advantage Assam 2.0 summit serves as a pivotal platform to showcase the state’s investment potential, foster international collaborations, and drive sustainable economic growth. As Assam opens its doors to the world, it stands poised to transform into a hub of innovation, industry, and cultural exchange, reinforcing its role in India’s economic landscape.