Tarun Gogoi Invites Investors to Assam, Elaborates Incentives

Assam Chief Minister Tarun Gogoi has called upon businessmen in Mumbai to invest in industries, agro processing, tourism, hotels and infrastructure in his state. Mr. Gogoi was addressing a meeting organized jointly by Indian Merchants' Chamber (IMC) and Indian Chamber of Commerce, Kolkata (ICC) in Mumbai on May 12. He was accompanied by senior bureaucrats of his government.

Welcoming Mr. Gogoi, IMC President Mr. Niraj Bajaj said that Assam and its seven sister states of North-East India had 38% of hydropower potential of India. It had 190 billion cubic metres of natural gas, 900 million tonnes of coal deposits and 49,000 MW of hydro-electric potential in addition to 500 million tonnes of oil reserves.

Mr. Bajaj assured the Chief Minister that IMC would be prepared to act as the nodal agency for providing information on the business and tourism potential of North-Eastern states to investors in Mumbai.

Mr. Tarun Gogoi said that the entire North-East region of India, isolated as it share only 2% of its borders with mainstream India and 98% with foreign countries. Entire North-East region represents a huge Special Economic Zone, enjoying unparalleled fiscal facilitation. The Central Government's NE Industrial Policy 1997 offers capital investment subsidy of 15%, transportation subsidy of 90%, working capital interest subsidy of 3%, excise duty and Income tax holiday for ten years.

Mr. Gogoi appreciated the theme of IMC for the year 'Inclusive Growth through Globalisation -- Prosperity for All.'