Guwahati, 24 September (HS): Assam Finance Minister Jayanta Mallabaruah on Thursday said the State’s human resource was its greatest strength for industrialisation and stressed the need to create quality jobs and entrepreneurial opportunities for young people within Assam.

Addressing the 13th SBI Banking & Economics Conclave in Mumbai, Mallabaruah said Assam was expanding beyond tea, petroleum and agriculture into semiconductors, electronics, food processing, tourism, logistics, renewable energy, healthcare, aerospace and defence.

“Assam’s greatest resource for industrialisation is its human resource,” he said, adding that the State’s young and increasingly skilled population was driving its investment strategy.

The Minister highlighted the approximately ₹27,000-crore semiconductor facility in Morigaon and PepsiCo India’s ₹778-crore food manufacturing facility in the Nalbari region, saying such projects would generate opportunities for MSMEs, farmers, transporters and service providers.

He said Advantage Assam 2.0 had generated investment commitments of around ₹5.18 lakh crore, with the government now focusing on converting commitments into projects by reducing approval timelines and transaction costs.

Mallabaruah said Assam’s GSDP was estimated at ₹7.42 lakh crore in 2025-26, with real growth of around 10.1%, while nominal GSDP for 2026-27 was projected at ₹8.71 lakh crore.

He also highlighted the rise in the State’s Credit-Deposit ratio from 41.10% in March 2016 to 73.52% in March 2026 and urged banks to expand cash-flow-based lending to MSMEs and first-generation entrepreneurs.

He said improved road, rail, air and waterway connectivity could position Assam as a production and logistics hub for the Northeast.------------

Hindusthan Samachar / Sriprakash