PM Modi sets bold $150 bn target for Assam’s economy by 2030

Prime Minister Narendra Modi, while inaugurating the Advantage Assam 2.0 Investment & Infrastructure Summit 2025 in Guwahati today, highlighted the state's rapid growth and its emergence as a hub for manufacturing, semiconductor production, and renewable energy.

Modi said Assam’s economy has doubled in just six years, growing from ₹2.75 lakh crore in 2018 to approximately ₹6 lakh crore today. He also set an ambitious target for Assam to become a $150 billion economy by 2030, positioning it as a major investment destination in eastern India.

Speaking on Assam’s importance in technology and manufacturing, the Prime Minister said the state is becoming a key player in India’s semiconductor industry. He also cited the recent launch of the Tata Semiconductor Assembly & Test facility in Jagiroad, which he said will drive technological advancements in the Northeast. He reaffirmed the government's focus on low-cost manufacturing under the 'Make in India' initiative, with Assam playing a crucial role in sectors such as electronics, pharmaceuticals, and automobiles.

The PM also discussed Assam’s potential in renewable energy, stating that India’s Renewable Energy Mission has become a global model. India is targeting 500 GW of renewable energy capacity by 2030, with Assam poised to contribute significantly. He added that over 50% of India’s onshore natural gas production comes from Assam.

The PM said Assam’s infrastructure has improved significantly, noting a four-fold increase in railway budget allocation and expanded air connectivity, with the number of flights rising from seven in 2014 to nearly 30 today.

The summit, also attended by global investors and industry leaders, aims to attract investments in technology, manufacturing, and infrastructure while strengthening Assam’s position as a key economic hub in India's growth story.

Chief Minister Himanta Biswa Sarma, who also spoke on the occasion, said the Advantage Assam 2.0 Summit would mark a new era of growth and opportunity. "Tea was the first major industry in Assam, discovered in 1823. The state has been a pioneer in India’s oil industry, and coal was discovered in Assam as early as 1847, which further propelled the state’s industrial journey and laid the foundation for its sustained economic growth."

The CM added that Assam has undergone a historic transformation, noting that since 2014, over 2,324 km of National Highways have been constructed. "Indian Railways has completed the gauge conversion of 600 km of metre-gauge lines. Assam's GDP has surged from $29 billion in 2013–14 to $68.7 billion in 2023–24, reflecting a growth of 12.4% CAGR."