Advantage Assam 2.0 Concludes, Secures ₹4.91 Lakh Crore Investment Commitments

The Advantage Assam 2.0 Investment and Infrastructure Summit concluded on Wednesday, securing investment commitments worth ₹4,91,500 crore, marking a significant milestone for the state’s economic growth. Assam Chief Minister Himanta Biswa Sarma hailed the event as a “historic occasion” that will shape the state’s future development.

Over the course of the two-day summit, memorandums of understanding (MoUs) exceeding ₹2 lakh crore were signed across key sectors such as industries, power, mines and minerals, IT, environment and forest, education, finance, health, culture, tourism, animal husbandry, cooperation, skill development, handloom and textiles, agriculture, science and technology, and water resources.

Speaking at a thematic session on Assam’s energy sector, CM Sarma underscored the state's pivotal role in India’s oil and gas industry, in the presence of Union Petroleum and Natural Gas Minister Hardeep Singh Puri.

He highlighted Assam’s historical contribution to the oil industry, dating back to the late 19th century, and reaffirmed its continued importance in India’s energy landscape.

“Assam remains a key player in India’s energy sector, with vast hydrocarbon reserves and a skilled workforce,” CM Sarma stated.

With 12% of India’s total natural gas reserves and half of the country’s onshore natural gas production, Assam stands as a crucial energy hub. The state houses four operational refineries with a combined refining capacity of 7.45 million metric tonnes (MMT), ensuring a steady energy supply for the nation.

CM Sarma emphasized that Assam’s oil and gas potential extends beyond its borders, serving as a catalyst for regional development. The state boasts a robust retail network with 1,180 outlets, while its annual LPG consumption stands at 0.5 MMT.

Leading petrochemical giants such as Brahmaputra Cracker and Polymer Limited, Assam Petro-Chemicals Limited, and Numaligarh Refinery Limited significantly contribute to Assam’s revenue, with annual royalties and taxes surpassing ₹11,700 crore.

Looking ahead, CM Sarma projected a twofold increase in crude oil availability by 2030, reinforcing Assam’s position as a key player in India's evolving energy sector.

Despite the impressive investment commitments, Sarma cautioned that the real challenge lies in execution and implementation. The success of Advantage Assam 2.0, he asserted, will be measured by how effectively these investments translate into economic growth, infrastructure expansion, and job creation.