On Friday, Union Finance Minister Nirmala Sitharaman praised Assam's increasing contribution to India's technological revolution, calling the state's new semiconductor plant in Jagiroad a "turning point" for the Northeast and an example of innovation driven growth.
Speaking to students, business owners, and startups during "Enterprise Assam Viksit Bharat 2047" in the Morigaon district, the Minister encouraged Assamese youngsters to take advantage of this "golden moment" and make daring moves toward entrepreneurship.
“It’s one thing to have a policy or funding but true development happens when favourable facilitation brings investments to new and unconventional regions,” Sitharaman added, noting Assam’s growth as an industrial hub.
"Assam and the entire Northeast stand to gain from the semiconductor complex in Jagiroad. It conveys a powerful message: "We can do it too," she remarked.
Sitharaman also commended Tata Electronics planned Outsourced Semiconductor Assembly and Test (OSAT) facility in Jagiroad, describing it as a significant advancement in India's efforts to become technologically independent.
"This project, which is expected to grow into one of the nation's leading manufacturing facilities, is in line with the country's larger objective of creating a self sufficient semiconductor ecosystem," she stated.
Sitharaman continued, "The Morigaon semiconductor facility is part of a wider network of government backed projects aimed at bolstering India's semiconductor production capabilities."
The project has already started drawing qualified professionals from all around the world, according to the Minister.
"A number of foreigners joined the facility voluntarily; neither the corporation nor the Chief Minister had to contact them. That says a lot about the trust and confidence that people have in Assam and Tata," she remarked.
The Finance Minister highlighted the need for young Assamese entrepreneurs to take advantage of new funding opportunities while highlighting India's developing startup ecosystem.
"Recently, Prime Minister Narendra Modi established a Rs 1 lakh crore fund for research and development, which will benefit both commercial entrepreneurs and government institutions. The government is making sure that no good idea goes unpaid, from seed money to commercialization," she stated.
"I strongly recommend that the youth of Assam stay in touch with IIT Guwahati," Sitharaman stated, urging students to establish connections with research institutes. Put your thoughts forward. You have the ecosystem, infrastructure, and mentors to turn ideas into businesses.
She highlighted the semiconductor facility's importance in creating an entrepreneurial ecosystem in Assam and described it as a potential engine of "Viksit Bharat" (Developed India).
In addition to generating employment, this unit is transferring technology, establishing international standards, and supporting the expansion of regional business owners. "Assam has the opportunity to spearhead the country's technological revolution from the East," she stated.
Sitharaman encouraged young people to consider options outside of traditional work. "Young people in Assam should not accept the security of a paid employment. Take chances, be creative, and start your own businesses. You may now get the appropriate finance and mentorship," she said.
