Finance Minister Nirmala Sitharaman, addressing a gathering at the ‘Enterprise Assam – Viksit Bharat 2047’ event on Friday, declared that Assam is experiencing a “golden moment” with a historic opportunity to lead India’s technological future.
During an interactive session with students, startups, and entrepreneurs at Jagiroad in Assam’s Morigaon district, the Minister highlighted the strategic significance of the upcoming Tata Electronics semiconductor facility in Jagiroad. She described the project as a transformative milestone for the entire northeastern region.
“Assam stands at a pivotal juncture. While policies and funding are essential, genuine progress is achieved when proactive facilitation channels investments into new frontiers,” Sitharaman stated highlighting the state’s emergence as a non-traditional industrial hub.
Articulating the facility’s broader implications, she noted, “The establishment of this semiconductor plant in Jagiroad sends a powerful signal across the country – it demonstrates that the Northeast is fully capable of being at the heart of a high-tech revolution.”
The Finance Minister elaborated on the Tata group’s Outsourced Semiconductor Assembly and Test (OSAT) unit, aligning it with the national mission for technological self-sufficiency.
“This initiative is a cornerstone in our national strategy to create a robust and self-reliant semiconductor supply chain,” she said.
A notable testament to the project’s credibility, according to Sitharaman, is its magnetic pull for global talent. “We are witnessing a remarkable trend where skilled non-resident Indians are voluntarily returning to join this facility. This was not a result of any recruitment drive; their return is a vote of confidence in both the Tata brand and the potential of Assam,” she observed.
Shifting focus to the entrepreneurial landscape, Sitharaman directed the youth towards newly available financial resources. “A massive Rs 1 lakh crore fund, recently unveiled by Prime Minister Narendra Modi, is now accessible. This fund is dedicated to fuelling innovation in the private sector, ensuring that promising concepts receive support from the initial idea stage all the way to market commercialisation,” she said.
She strongly advised young innovators to forge connections with premier institutions. “I urge the students of Assam to actively collaborate with IIT Guwahati. You have a powerful combination of mentors, state-of-the-art infrastructure, and a supportive ecosystem to convert your visions into successful businesses,” Sitharaman said.
Positioning the semiconductor facility as a catalyst for a ‘Viksit Bharat’, the Minister emphasised its role in promoting a comprehensive business environment.
“This project transcends job creation; it is about technology transfer, establishing international benchmarks, and empowering local entrepreneurs. Assam can now pioneer the nation’s tech advancement from the East,” she added.
Sitharaman encouraged the attendees to embrace risk. “The youth of Assam must look beyond traditional employment. This is the time to be bold, to innovate, and to build your own enterprises. The necessary guidance and capital are now within your grasp,” the Finance Minister said.
