Assam’s Chief Minister, Himanta Biswa Sarma, recently announced the Tata Group’s application to establish a semiconductor processing plant in Assam, with a substantial investment of Rs 40,000 crore. This move is expected to bring about a significant change in the state’s industrial sector. The project has already received positive feedback from the state government and discussions with the government are currently underway for final approval.
Tata Group’s Plans for Assam
The Tata Group’s expressed interest in setting up a semiconductor processing plant in Assam marks a crucial development for the growth of the state. The conglomerate has engaged with both the state and central governments, showcasing their commitment to investing in Assam. The proposed plant, estimated at around Rs 40,000 crore, is likely to be located 55 km from Guwahati – Assams city – specifically at Jagiroad.
The potential establishment of Tata Group’s semiconductor processing plant in Assam holds promise for stimulating industrialization within the state. Chief Minister Himanta Biswa Sarma expressed his optimism about this project, emphasizing its potential as a game-changer for Assam. Furthermore, he acknowledged Prime Minister Narendra Modi’s support and guidance towards transforming Assam’s landscape.
In August, the Assam cabinet approved the Assam Semiconductor Manufacturing and Electronic Production Policy to facilitate the growth of the electronics and IT industry in the state. This policy aims to attract investments, create jobs, and promote the development of the semiconductor and electronics sectors in Assam. This policy perfectly fits the Tata Group’s proposed semiconductor processing plant.
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Tata Group has not only promised to invest in Assam but also intends to train employees for the proposed plant. The conglomerate has applied to the state government to train 1000 people who will later be given skills and employment opportunities. Tata Group’s proactive approach demonstrates their commitment to contributing to Assam’s economic growth and creating skilled individuals.
In alignment with the broader purpose of empowering the youth and encouraging self-employment, Chief Minister Sarma inaugurated the Mukhya Mantri Atmanirbhar Asom Portal. This online platform allows submission of entries to the CM’s Atmanirbhar Assam Abhiyan for empowering two lakh youths for entrepreneurship. The scheme provides grants and interest-free loans to help set up micro-enterprises and service units.
Under the Chief Minister’s Atmanirbhar Assam Abhiyan, eligible beneficiaries are paid a sum of two lakhs in two installments. These include a government subsidy of Rs 1 lakh and an interest-free government loan of Rs 1 lakh. The beneficiaries should pay back the loan without interest five years after the beginning of business. Youth are also qualified to apply for other central government loans under the scheme.
Assam has witnessed strong growth in industrial investments and a conducive industrial climate during the above period. The move by companies like Tata Group to these states is based on the proactive approach of the state to create a good business climate and availability of skilled people. The construction of a semiconductor processing plant is likely to contribute to the industrial development of Assam and promote its economy.