“It’s a Golden Moment for Assam”: Union FM Nirmala Sitharaman Hails State’s Startup Spirit

Union Finance Minister Nirmala Sitharaman held an interactive session with young entrepreneurs and students during her visit to the upcoming Semiconductor Project site in Jagiroad, Assam. The event, which saw participation from over 34 startups and bright young innovators from eight districts, served as a platform for dialogue between the Finance Minister and emerging business leaders from the region.

Addressing the gathering, Sitharaman expressed her appreciation to Chief Minister Himanta Biswa Sarma and the Tata Group for their collaborative efforts in setting up the state’s first semiconductor manufacturing unit. “They have shown me the entire facility, even as it is being developed. Assam has taken the lead in creating an environment that encourages investment and industrial growth. I sincerely congratulate and appreciate the Chief Minister for pushing forward this initiative,” she said.

Highlighting the importance of inclusive industrial development, the Minister noted that many regions in India had never seen such large-scale industries being established. “This semiconductor unit in Assam is not just an opportunity for the state but also for the entire Northeast. It is immensely motivating and sends out a strong message that we too can do it,” Sitharaman added.

During the interaction, a student from Gauhati University raised a question about the return of Indian professionals from abroad. In response, Sitharaman pointed out that several highly qualified expatriates had returned to contribute to the semiconductor project. “Neither the Chief Minister nor the Tata CEO requested them personally — they came on their own. This reflects the credibility and professionalism of a company like Tata, known for its ethics and values. Many Indians working abroad are now looking to return and be part of India’s developmental journey,” she said.

Responding to another question from a student of Assam Agricultural University, the Finance Minister spoke about the recently launched ₹1 lakh crore Research and Development (R&D) fund announced by Prime Minister Narendra Modi. “This fund will be available not only to government departments and public institutions but also to private enterprises and startups engaged in research,” she explained.

Sitharaman also encouraged young innovators to connect with incubation centres at IIT Guwahati, highlighting the strong collaboration among premier institutions across India. “IITs like Madras are already supporting startups from other IITs. Such integration of academia, industry, and research is generating great energy. Students should stay in touch with IIT Guwahati and develop their ideas into sustainable ventures,” she advised.

During the session, a co-founder of a local startup sought clarification about financial support mechanisms. Sitharaman assured that central funds are accessible to startups and urged them to approach the Department of Industries, IIT Guwahati, or the Ministry directly. “If access becomes difficult, write to me, I will connect you with those who specialise in financing early-stage startups. Funds are available, and we are committed to bridging the gap,” she assured.

Concluding her address, the Finance Minister encouraged Assam’s youth to take bold steps in entrepreneurship. “If you work together as a team and seize opportunities, you can create jobs, contribute to the GDP, and become key drivers of India’s growth. Assam has a golden moment. This semiconductor unit will be the engine of Viksit Bharat for the Northeast, building an ecosystem that promotes local entrepreneurship, innovation, and self-reliance,” she said.

Sitharaman further urged young people to move beyond the comfort of salaried employment and embrace the challenge of building their own enterprises. “You now have the right ecosystem and the right kind of people to support you. Step forward with confidence, and help shape the dream of a Viksit Bharat,” she concluded.

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