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Prime Minister Modi, Ambani at Global Investors Summit 2018

Prime Minister Narendra Modi addressed the inaugural session of Advantage Assam – Global Investors Summit 2018, in Guwahati today.  

Highlighting the path-breaking economic reforms undertaken by his government Modi said, “India’s growth story will further pick up speed when there is an all-round development of the north-east”.  

Modi stressed the importance of ‘Act East Policy’ and said, “We have created the Act East Policy and the Northeast is at the heart of it. This Policy requires increased people to people contact, trade ties and other relations with countries on India’s east, particularly ASEAN countries”.    

“The world sees India today as an emerging powerhouse for economic growth,” he said. Modi also mentioned that his government has changed the work culture of the official machinery, giving it greater speed” and  “we want all projects to be completed before the target.”     

Many new sectors have been opened for 100 per cent FDI through automatic routes like automobiles, textiles, tourism, ports and highways. “Today, India is one of the most preferred destinations for FDI. India has received highest ever annual FDI of USD 60 billion in 2016-17,” he said. 

Reliance Industries chairman Mukesh Ambani who was also present at the event announced an investment of Rs 2,500 crore in various sectors in Assam including retail, petroleum, telecom, tourism and sports. He said “This move will create jobs for at least 80,000 people over the next three years. Reliance will invest an additional Rs 2,500 crore to augment its presence in this market”.  

“We are also going to open new offices in all 145 tehsil headquarters across Assam. Our approach has always been to create sustainable livelihood opportunities and have generated 20,000 jobs in Assam. We now target to increase the sustainable livelihood opportunities by five-fold to 1,00,000 jobs,” Ambani added. 

Those present at the event included Bhutanese PM Tshering Tobgay, several Union ministers, Assam chief minister Sarbananda Sonowal, chief ministers of Arunachal Pradesh and Manipur, ambassadors and high commissioners of 16 countries, Tata Sons chairman N Chandrasekharan besides other.       

Sonowal told that the event will showcase the manufacturing prowess and the opportunities offered by Assam in terms of export-oriented manufacturing and services to growing economies such as of ASEAN countries and others in Southeast Asia.