Guwahati: Assam has 70 Memoranda of Understanding (MOUs) in the pipeline, amounting to a substantial investment of 11,543 crores ($1.3 billion) with a significant portion allocated to the solar energy sector, Additional Chief Secretary Ravi Kota said at the 7th edition of the Emerging NORTHEAST 2024 event organized by ASSOCHAM (Associated Chambers of Commerce & Industry of India).

Kota, who will take over as the Chief Secretary of Assam this coming April, also revealed that the semiconductor plant that is being built in Nagaon will span 500 acres. The unit built by TATA Electronics, is likely to come up in Hindustan Paper Corporation's now-defunct Nagaon Paper Mill.

The 7th edition of the Emerging NORTHEAST 2024, organized by ASSOCHAM, was a two-day conclave focused on the Northeast region to showcase its investor-friendly policies, sectoral strengths, and available opportunities. Several key industry leaders of Northeast India also presented their insights during the conclave.

There is a need to upgrade the skills of Northeast Indian youth in the cultural and media sectors, Principal Secretary B Kalyan Chakravarthy stressed. He asserted that this can be achieved through industrial investments in these areas to boost economic growth. "The Northeast is a developed region with significant potential, particularly in health, tourism, and IT", Chakravarthy noted.

Sudip Datta, Partner at Ernst and Young, shed light on the vast opportunities in the region, emphasizing sustainable tourism potential and advocating for sustainable urbanization. Abhishek Singh, Joint Secretary (Economic Diplomacy) of the Ministry of External Affairs, on the other hand, highlighted a $26 billion Production-Linked Incentive (PLI) initiative impacting 14 sectors. Singh also mentioned the Prime Minister's Gati Shakti scheme, focusing on logistics policies and the development of sea ports.

Ruhul Amin, Assistant High Commissioner of Bangladesh in Guwahati, who was also present at the event, emphasized the need for improved connectivity between Northeast India and Bangladesh. "We need to increase people-to-people connections in tourism, trade, and connectivity between the two sides", he stated.

Padmanav Chakraborty, Regional Manufacturing Head of NE at Dalmia Cement, shared positive news on increased demand in the real estate and tourism sectors. He also revealed plans for a "100% renewable energy state" by 2030. SK Baruah, Executive Director of NEDFi, highlighted the importance of financing projects to attract investment, with a strategic focus on neighboring countries like Bangladesh, Bhutan, and Myanmar. M. Vasanthagesan, Executive Director of the Rubber Board of India, urged entrepreneurs to associate with the rubber sector, emphasizing its potential to contribute to Assam's socio-economic development.

Sanjive Narain, Chairman of ASSOCHAM Northeastern Region Council, stressed the significance of energy, mobility, and infrastructure for growth. He encouraged industry members to leverage modern infrastructure for advancing trade, travel, and tourism. Perminder Jeet Kaur, Sr. Director ASSOCHAM, emphasized the need for greater partnership and interactions between industry and government. Sandeep Khaitan, Vice Chairman, ASSOCHAM Northeast Region Council, highlighted the key role of MSMEs in regional growth, praising Assam's conducive business policies and calling for increased industry engagement in setting the roadmap for development.

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