Assam government is working on a new industrial policy to attract investment in the state and harness the its core strengths.
At investment roadshow here, Assam Industry and Commerce Minister Chandra Mohan Patowary today said subisidies are not sustainable model for attracting investment.
In the roadshow, Assam is seeking investment in food processing, bamboo, plastic and tea. The state has planned five industrial parks including food processing, bamboo and petrochemicals and is working on a new land policy.
"After lot of efforts, we are able to revive the North East Industrial and Investment Policy which was closed in 2014. We are now trying to come out with a new policy in the new fiscal," Patowary said at the CII-organised programme.
He said under the BJP rule, Assam had taken several measures that will help it to to be in the top five in ease of doing business ranking very shortly.
Additional chief secretary to Assam industries and commerce department, Ravi Capoor said, "It has been found investment led by subsidy attraction is not sustainable. Hence, we have consciously decided to focus on industries based on our core strength."
"Assam is still primarily agrarian economy with 80 per cent of population engaged in it. By default, we have organic produce which holds enormous potential for investment in the state," Capoor said.
"We are calling all plyboard makers to invest in our bamboo park for producing wood out of bamboo. We produce 60 per cent of bamboo of the country," he said.
Patowary expected to get Rs 4,781 crore investment with 27 companies evincing interest in Assam during a recent meeting with industrialists in the state.
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