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PM Modi to inaugurate first global investors’ summit in Assam

Prime Minister Narendra Modi will inaugurate Assam’s first global investors’ summit which will be held on February 3-4, 2018 at Sarusajai Stadium in Guwahati. The state government has also announced tax breaks and incentives just to impress the business world that it is investment-friendly.

“We have decided to amend the preferential purchase policy,” Assam industry minister Chandra Mohan Patowary said on Tuesday. “As per the new policy, 25 per cent reservation will be made for products produced by MSME (micro, small and medium enterprises) with 20 per cent price preference in all government procurement.”

Under this policy, Patowary said, Rs 1.2 lakh one-time support will be provided per seat for setting up a BPO having minimum 100 seats. Similarly, Rs 1.5 lakh one-time support will be provided per employee for software development, besides around Rs 2.5 lakh one-time support per employee for research and development units having minimum 50 seats.

For projects coming up in IT Park, 20 per cent of the land price will be provided by the government, and for ventures outside IT Park, 50 per cent subsidy will be paid by the government on land purchase, the minister said. Subsidy of Rs 3 per unit of power will be provided by the government, he said.

Besides, Patowary said, an incubation centre will be set up at Ambari in Guwahati under digital start-up policy. “This centre will be open for all departments. The state government will sign an MoU with the Telangana government for the execution of the policy,” he said.

The minister further announced that an industrial corridor measuring 160 sq km will be converted into land bank and new investors will be provided land from this land bank.
Assam is eyeing to become the hub of sugar production and has announced a sugar policy, Patowary said, pointing out that the climate in the state is conducive to sugarcane production. “We had a discussion with representatives of Indian Sugar Mills Association. There will be one sugar mill in 30 km radius of the plantation area. Groups like Kothari and Uttam sugar mills have expressed their willingness to invest in Assam,” he said.


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