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Friday, February 14, 2025
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Assam to Establish Three New Industrial Parks with Central Government’s Approval

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Boost to Assam’s Industrial Sector

In a significant push to bolster the industrial sector in Assam, the Central Government has approved the establishment of three industrial parks in Tingkhong, Tamulpur, and Karimganj under the Micro, Small and Medium Enterprises (MSME) scheme.

Visionary Projects for the North East

These ambitious projects are part of a broader endeavor to expand the industrial sector in the North East. Alongside Assam, the Himalayan state of Sikkim has also received approval for new industrial developments. In total, 12 visionary projects have been proposed to stimulate industrial growth across the region.

Funding and Development Plans

The industry park in Tingkhong will be established at a cost of Rs. 25.1 crore, with the Central Government providing Rs. 13.50 crore and the state government infusing Rs. 11.51 crore. The Kumarikata industry park in Tamulpur will be developed at a cost of Rs. 21.65 crore, with Rs. 13.50 crore funded by the Central Government and the state government investing Rs. 8.15 crore. For the Sephinjuri project in Karimganj, a total investment of Rs. 18.74 crore will be pumped in, with the Central and State Governments contributing Rs. 13.50 crore and Rs. 5.24 crore respectively.

Economic Impact and Employment Opportunities

These visionary projects are expected to foster industrial growth in Assam and create employment opportunities in the region. They will also develop the local economy and uplift the marginalized sections of society by providing them with jobs to support their livelihoods.

Tata Group’s Semiconductor Project

In another groundbreaking development earlier this month, the land agreement for Tata Group’s semiconductor project in Morigaon district was finalized. In the agreement signed at the Sub-Registrar’s office, Morigaon leased out 517.27 hectares of land to Tata Group for a period of 60 years. Tata Semiconductor Assembly and Test Pvt. Ltd. (TSAT) will set up a semiconductor unit in Morigaon, Assam. With a capacity of producing 48 million chips per day, this facility is being built for Rs 27,000 crore. Segments that will be covered are automotive, electric vehicles, consumer electronics, telecom, and mobile phones.

Conclusion

The establishment of these new industry parks and the Tata semiconductor unit mark significant milestones in Assam’s journey towards industrialization and economic growth. These projects will not only create numerous employment opportunities but also position Assam as a key player in India’s industrial landscape.

Also read: GLOBAL OUTAGE: MICROSOFT SYSTEMS HIT BY BSOD ERRORS, DISRUPTING MULTIPLE SECTORS

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