In a resounding endorsement of Assam's growing economic potential, major Indian corporations including Reliance Industries, Adani Group, Vedanta, JSW and Tata Group have committed to invest billions of dollars in the state over the next few years. The announcements were made at the Advantage Assam 2.0 summit, a government initiative aimed at showcasing the state as a prime investment destination.

Prime Minister Narendra Modi and Chief Minister Himanta Biswa Sarma led the charge in promoting Assam's strategic advantages, highlighting its rich natural resources, improved connectivity, and its role as a gateway to Southeast Asia.

The summit witnessed the signing of Memorandums of Understanding (MoUs) worth Rs 2 lakh crore (approximately $24 billion USD) between the Assam government and various investors. Energy, hospitality, and oil and gas emerged as key sectors attracting significant interest.

Vedanta Group Chairman Anil Agarwal committed Rs 50,000 crore spanned over three-four years to establish oil and gas exploration facilities, surveillance infrastructure, and sports development initiatives. “90% of oil producing land in Assam is under the government, and only 10% is privatised to companies like us. We already have oil rigs in three places in Assam, and for the first time we are getting positive results from the rigs. Within the next two years, we will produce 100,000 barrels of oil. We are also encouraging downstream production- whether it is oil or gas,” he said.

When asked about the drilling projects, Agarwal candidly quoted Trump during his interaction with the media and said, “It’s ‘drill baby drill’ for us in Assam. All leaders seem to be going by the mantra.”

Similarly, Reliance Industries Chairman Mukesh Ambani unveiled a Rs 50,000 crore investment plan. The investment will span majorly across clean energy, agriculture and horticulture sectors. “We will build two world class hubs of compressed biogas and CBG over waste lands in Assam. These units will produce eight lakh tonnes of clean biogas annually that will fuel two lakh passenger cars every day,” said Ambani in his speech.

Adani Group Chairman Gautam Adani pledged Rs 50,000 crore across sectors such as airports, cement, gas distribution, and road construction.

The Tata Group, already involved in a major semiconductor project in Assam, further solidified its commitment. Tata Sons Chairman N Chandrasekaran announced a Rs 27,000 crore investment in a mobile phone technology facility, while Tata Power signed an MoU for Rs 30,000 crore to develop renewable energy projects.

Other notable commitments include investments from JSW Group and JW Marriott in the hospitality sector, Lilavati Hospitals in healthcare, and significant participation from energy companies like Oil India Limited, Numaligarh Refinery Limited, JSW Energy, and Greenko.

This surge in investment commitments signals a major vote of confidence in Assam's economic future. If these ambitious plans materialize, they are poised to transform Assam's economy, generate employment opportunities, and contribute significantly to the region's overall development.