Guwahati, March 1: With the Advantage Assam 2.0 summit securing investment commitments worth Rs 5.18 lakh crore, Chief Minister Himanta Biswa Sarma has said that the initiative has the potential to generate two lakh direct jobs in the state.

The Chief Minister emphasised that even if 70% of the proposed investments are successfully implemented, Assam could be propelled into the next league of development. "This amounts to 80% of the state's GDP," Sarma said, on Friday.

Outlining the next course of action, Sarma acknowledged that the biggest challenge now would be providing land and competitive incentives to prospective investors.

Land acquisition remains a critical issue, and the government plans to allocate government-owned land instead of private agricultural land for industries.

Additionally, to remain competitive with other states, Assam must offer attractive incentives to businesses.

"The biggest hurdle will be land allocation. No one will buy land to set up industries, and the cost of acquiring private land is high. Therefore, we will have to allocate government land. Core agricultural land will not be touched," the Chief Minister asserted.

He further added that the state government will begin discussions with investors next month, with the first six months dedicated to creating a roadmap for project execution.

The MoUs signed include 45 non-financial agreements focused on CSR, collaborations, and philanthropic initiatives.

To ensure the state is workforce-ready, the government plans to prioritise MoUs related to education and skill development in the first phase.

Sarma also highlighted significant investments in oil exploration and production, stating that unlocking Assam’s oil and gas potential could double the state’s GDP within five years.

Meanwhile, the state plans to invite Reliance Group Chairman Mukesh Ambani next month to launch Napier grass plantations in Karbi Anglong, supporting Reliance’s compressed biogas plant initiative.

"Karbi Anglong and Dima Hasao hold the key to Assam’s industrial future, given their vast land and mineral resources," Sarma said.