Assam Eyes Transformation into an Automobile Manufacturing Hub, Set to Showcase at Seoul and Global Investment Summit

Assam could be a global-level automobile manufacturing hub. Chief Minister Himanta Biswa Sarma, on his visit to Seoul, South Korea, stated that the automotive ecosystem being developed in Assam can change the socio-economic structure of the entire northeastern state.

Overview of the Automobile Manufacturing Hub

During a meeting with leading industrialists in Seoul today, CM Sarma also underscored the strategic advantages that Assam offers to South Korean automobile support industries. “I am confident if we can establish an automobile manufacturing hub in Assam, we would transform the socio-economic aspects of the North East. Today, I assured CEOs and officers of South Korea’s automobile companies that they will get the unstinted support of our State, if they choose to set up operations in Assam. Assam, with direct access to India’s $100 billion automotive sector as well as the markets of Southeast Asia, presents them unique opportunities,” he said.

The meeting in Seoul

The Chief Minister’s meetings included representatives from the Korean International Trade Association (KITA), the country’s biggest business organization, which comprises 73,000 companies. They were in Assam to discuss how Assam could leverage KITA’s enormous network to access new markets for Assam’s tea, silk, and agricultural products. “I met with the KITA delegation for a short meeting. We are especially exploring ways by which KITA, which has connections with companies around the world, can help open up new avenues for Assam tea, silk, and agriculture production among others,” said Sarma.

Further, an effective discussion was held between CM Sarma and Kyungsung Kang, President of Korea Trade-Investment Promotion Agency (KOTRA) and his team. They discussed the ways and means of working together for the growth and development of different sectors involving trade, commerce and industry and skill development for the mutual benefits of both Assam and Korean enterprises. “Great meeting with Kyungsung Kang, the President of KOTRA, and his team today in Seoul. We discussed a phase-wise approach to explore partnership between Assam and Korea for collaboration in trade, commerce, industry and skill development for mutual benefit.” he stated.

The Beginning of Advantage Assam

The state government is conducting a flagship investment summit, titled “Advantage Assam” in February in Guwahati, to showcase the promise of Assam as an ideal investment destination. Prime Minister Narendra Modi is set to inaugurate the summit which wants to attract investors across the globe to consider opportunities in Assam. Scheduled for February 25 and 26, the event will not only address the economic prospects for the state, but highlight its rich cultural heritage as well. Cultural sustainability also played a significant role in this summit, said Sarma who stated, “This summit gives Assam an opportunity to showcase its rich traditions to international investors.”

One of the key attractions of the summit is an enthralling Jhumur dance performance which will take place with more than 7,500 dancers and artists, becoming a major highlight of the summit. “It should be an extraordinary exhibition,” he said. Assam’s push to become a hub for automobile manufacturing is one of the several initiatives to strengthen the state’s economy and create new employment opportunities. Assam has stationed itself as the gateway to Southeast Asia by utilising its geographical advantages and leveraging the support of the Union government to Foreign Direct Investment (FDI).

Conclusion

The steps that are being taken by Assam to diversify the economic base and capture the attention of global investors will pay rich dividends to this part of the country. The state aims at embracing industrial growth, better infrastructure and improved living standards by being an integrated part of the international automobile supply industry chain. The “Advantage Assam” summit is an important step in this direction, as it will showcase the state’s potential to a wide range of investors, entrepreneurs and business leaders. Besides showcasing economic opportunities, this event will be a celebration of the unique cultural identity of Assam making it a memorable and impactful experience for all. Assam is transitioning. Assam is on a path to becoming a vibrant economic hub and major contributor to the global manufacturing landscape, supported by unwavering state government support and innovative collaborations.

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