India's Northeast Region Sees New Wave of Investment with Advantage Assam 2.0

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The Advantage Assam 2.0 business summit, inaugurated by Prime Minister Narendra Modi, marks a new era of investment in the Northeast region of India. The summit has attracted major players like Reliance Industries and Adani Group, who have committed to significant investments in the region. Reliance Industries Chairperson Mukesh Ambani announced that the conglomerate would quadruple its investment to Rs 50,000 crore over the next five years, establishing an artificial intelligence data centre, world-class hubs of compressed biogas, mega food park, and doubling the number of Reliance Retail stores. This investment is expected to create tens of thousands of direct and indirect employment opportunities for the youth in Assam.

The Prime Minister expressed confidence in India's economic growth, citing the country's growing skilled workforce, the 'new' middle class, political stability, and policy continuity. He attributed the economic certainty to India's governance, which has constantly been reforming. The world trusts in India's population, which has been upskilling itself and innovating, and the 'new' middle class, which emerged from poverty and steps ahead with new aspirations. The Prime Minister also pointed out that the value of Assam's economy doubled from nearly 2.75 crore to Rs 6 lakh crore since the first edition of the Advantage Assam Summit in 2018, which is the effect of a 'double-engine' government.

Other major investments announced at the summit include the setting up of a seven-star Oberoi hotel, a mega food park, and the promotion of 'Green Gold' or bamboo, and the centre of the famous silk industry, Sualkuchi. The Reliance Foundation, with its 'Swadesh' stores, would collaborate with the state government to promote these initiatives. The artificial intelligence data centre, in particular, is expected to benefit students, patients, and farmers, and help Assam's youth to learn from home and earn from home. The compressed biogas hubs will produce 8 lakh tonnes of clean biogas annually, enough to fuel 2 lakh passenger vehicles every day, making Assam a hub of clean energy.

The list of initiatives announced at the summit includes: * Establishing an artificial intelligence data centre * Setting up world-class hubs of compressed biogas * Creating a mega food park * Doubling the number of Reliance Retail stores * Building a seven-star Oberoi hotel * Promoting 'Green Gold' or bamboo, and the centre of the famous silk industry, Sualkuchi These initiatives are expected to create a significant impact on the economy of Assam and the Northeast region, and contribute to India's overall economic growth.

The Advantage Assam 2.0 summit has brought together major stakeholders, including Union Ministers, state government officials, and industry leaders, to discuss the potential of the Northeast region and the opportunities for investment. The summit has also highlighted the importance of connectivity, with the India-Middle East-Europe Economic Corridor (IMEC) expected to bring new possibilities for trade and commerce. With the investment commitments announced at the summit, the Northeast region is poised for significant growth and development, and is expected to play a major role in India's economic growth story.