Assam CM Himanta Biswa Sarma attends conference on 'Financing India's journey towards Viksit Bharat'

Guwahati: Assam Chief Minister Himanta Biswa Sarma on attended the two-day conference on 'Financing India’s journey towards Viksit Bharat' at Bharat Mandapam, New Delhi.

Organised by the Ministry of Finance, Government of India, the conference brings together Chief Ministers, Deputy Chief Ministers, Finance Ministers and senior representatives from several States and Union Territories to deliberate on key financial and policy priorities shaping India’s development journey towards Viksit Bharat 2047.

Chaired by Union Finance Minister Nirmala Sitharaman, the conference provides a platform for discussions on financing challenges, public investment, private capital mobilisation and policy complementarities between the Centre and the States.


Focus on Assam’s growth priorities

The deliberations provided an opportunity to identify financial pathways for Assam, with discussions focusing on macroeconomic growth, agricultural transformation and renewable energy to advance sustainable and inclusive development in the State.

Mobilising resources for Viksit Bharat

The conference underlined that financing India’s journey towards Viksit Bharat 2047 would require scaling up public investment, mobilising private capital and strengthening fiscal coordination between the Centre and the States.

Department of Economic Affairs Secretary Anuradha Thakur emphasised that the scale of transformation envisaged for India cannot be achieved through government budgets alone and that private financing will have to play a significant role in bridging the investment gap.

Former 15th Finance Commission Chairman NK Singh highlighted the need to raise India’s gross domestic savings rate from around 34 per cent to 38–40 per cent of GDP to adequately finance long-term economic growth. He also stressed the importance of improving the incremental capital-output ratio (ICOR) from around 5 to 4.5 to maximise the returns on investment.

Discussions also focused on strengthening fiscal health, augmenting revenues and maintaining fiscal discipline at the State level. The projected decline in general government debt to 73.1 per cent by 2030–31 from around 84 per cent was also discussed, along with the need for rigorous, State-specific assessments of debt sustainability.

Agriculture, Renewable Energy and Digital Infrastructure

The conference deliberated on financing sustainable agricultural practices, strengthening supply chains and developing modern agricultural markets.

Another key area of discussion was mobilising investments for renewable energy infrastructure, transmission assets and emerging technologies such as carbon capture. The potential of Digital Public Infrastructure (DPI 2.0) and emerging technologies to improve resource allocation, transparency and efficiency was also highlighted.

Strengthening Centre-State partnership

The conference sought to deepen Centre-State partnership through structured and purposeful engagement on shared development priorities. The discussions emphasised that achieving the objectives of Viksit Bharat requires the Centre and States to work together within a cooperative federal framework, with States playing a key role in translating national priorities into effective programmes and outcomes on the ground.

Taking to X after attending the conference, Chief Minister Himanta Biswa Sarma said:

“Joined my esteemed colleagues for a productive session on ‘Financing India’s Journey Towards Viksit Bharat,’ chaired by Hon’ble Finance Minister @nsitharaman ji.

A meaningful step towards stronger Centre-State coordination to realise our shared vision of a Viksit Bharat.”

The conference reaffirmed the importance of a strong Centre-State partnership in translating national development priorities into effective programmes and measurable outcomes. With States playing a central role in implementation, coordinated policy action, fiscal prudence and innovative financing will be critical to strengthening investment, enhancing economic resilience and unlocking new avenues of development, thereby advancing the shared vision of Viksit Bharat 2047.

Assam Chief Minister Himanta Biswa Sarma urged investors and industry stakeholders to explore the emerging opportunities in Assam’s semiconductor ecosystem, particularly with the Tata Electronics semiconductor assembly, testing and packaging (OSAT) facility at Jagiroad scheduled for commissioning in December this year.

Interacting with industrialists and other stakeholders on the sidelines of SEMICON India 2026 at Yashobhoomi in the national capital the Chief Minister said the State Government was making every effort to ensure the success of the Tata OSAT facility through enabling policies, institutional support and investor-friendly frameworks.

Assam emerging as a semiconductor investment destination

Sarma said the semiconductor ecosystem was expanding rapidly, opening up new avenues for innovation, investment and economic growth. The sector, he said, was no longer confined to chip design and assembly, but was expanding into fabrication, advanced packaging, equipment, materials, research and talent development.

He said the Tata OSAT facility at Jagiroad, once operational, would have the capacity to produce 48 million chips a day and generate around 27,000 direct and indirect employment opportunities. The facility, he added, would play an important role in positioning Assam, as well as India, as a major hub for semiconductor and electronics manufacturing.

Gateway to Southeast Asia and ASEAN markets

Highlighting Assam’s strategic geographical location, the Chief Minister said the State enjoys a unique advantage as the gateway to Southeast Asia and the wider ASEAN consumer markets.

With the right ecosystem and investment, Assam could build a full-stack semiconductor industry spanning chip design, fabrication, packaging and testing, he said.

Sarma said the State Government was working to create an investor-friendly environment and provide the policy and institutional support required to make Assam a preferred destination for investment and long-term growth.

Assam proudly part of India’s semiconductor journey

In a post on X, the Chief Minister said that under the leadership of Prime Minister Narendra Modi, India’s semiconductor mission was entering a new phase.

Referring to SEMICON India 2026, Dr. Sarma said the conclave was showcasing the future of India’s semiconductor industry and “Assam proudly is part of it.”

Sarma said the event reflected India’s growing capabilities across chip design, manufacturing, research and the wider electronics ecosystem.

"From building capacity to creating a globally competitive semiconductor ecosystem, India is steadily strengthening its position in the technology landscape", he said.

He described the developments as 'a significant step towards a stronger, self-reliant and technology-driven Bharat'.

SEMICON India 2026 showcases global semiconductor ecosystem

The three-day SEMICON India 2026 was inaugurated by Prime Minister Narendra Modi on Thursday. Organised by the India Semiconductor Mission under the Ministry of Electronics and Information Technology (MeitY), in partnership with SEMI and industry associations, the event is centred around the theme “Silicon to Systems: Building the Ecosystem.”

The event seeks to further strengthen India’s position as a reliable partner in the global semiconductor value chain and provides a platform for industry leaders, investors, policymakers, researchers and other stakeholders to explore opportunities for collaboration and investment.

Participation from over 20 countries

In addition to the main conference, SEMICON India 2026 features a comprehensive exhibition and a range of initiatives, including workforce development programmes, country pavilions, hackathons and other engagements aimed at promoting innovation, collaboration and capacity building across the semiconductor ecosystem.

More than 500 exhibiting companies are showcasing cutting-edge technologies at the event, with companies from over 20 countries participating in the 2026 edition.

The event also features 10 State Pavilions and seven Country Pavilions, including participation from countries such as the Netherlands, Japan, South Korea, Sweden, Malaysia and Singapore.

The Chief Minister said such a global platform provides Assam an important opportunity to engage with leading companies and investors and showcase the State’s potential as an emerging destination for semiconductor and electronics manufacturing.