Indian Chamber of Commerce Presents Growth Plan for Assam to Finance Commission
The Indian Chamber of Commerce (ICC) submitted a detailed memorandum to Arvind Panagariya, Chairman of the 16th Finance Commission, on Friday. The memorandum, presented by Sarat Kumar Jain and Ishantor Sobhapandit, outlined key recommendations to accelerate industrial and economic growth in Assam and the North-East region.
Infrastructure Development
The ICC called for special grants to improve industrial infrastructure, including enhanced road connectivity, rail networks, ports, and power supply along the North East Industrial Corridor. They also advocated for developing inland waterways and multimodal logistics hubs to improve transportation efficiency.
Power Supply and Renewable Energy
To ensure a reliable power supply, the ICC urged investment in upgrading the power transmission and distribution network. They also recommended incentives for renewable energy development, including solar energy parks, small hydropower plants, and biomass energy production.
Agricultural and Agro-Based Industries
Recognizing Assam’s agricultural potential, the ICC recommended funds to develop agro-based industries, modernize technology, upgrade storage facilities, and set up agroprocessing units. They also suggested promoting value-added industries in agriculture, horticulture, and forestry.
Climate Resilience
The ICC recommended dedicated funding for climate resilience projects such as flood control, embankment strengthening, and river management. They also proposed investments in climate-smart agriculture and infrastructure designed to withstand extreme weather conditions.
Support for Startups and Cross-Border Trade
The ICC highlighted the need for specific funds to support Assam’s growing startup ecosystem, suggesting the establishment of venture capital funds, incubators, and accelerators. They also recommended financing cross-border trade infrastructure to enhance regional cooperation opportunities with neighboring countries.
In conclusion, the ICC urged the 16th Finance Commission to recognize Assam’s potential in various sectors and ensure adequate financial support to address climate risks and infrastructure gaps, propelling the region towards sustainable and inclusive growth.
Doubts Revealed
Indian Chamber of Commerce -: The Indian Chamber of Commerce (ICC) is a group of business people who work together to help businesses grow in India.
Finance Commission -: The Finance Commission is a group of experts in India who decide how money should be shared between the central government and the states.
16th Finance Commission -: This is the 16th time a group of experts has been formed to decide how money should be shared between the central government and the states.
Arvind Panagariya -: Arvind Panagariya is a famous economist in India who is leading the 16th Finance Commission.
Assam -: Assam is a state in the northeastern part of India, known for its tea gardens and rich culture.
infrastructure -: Infrastructure means the basic things like roads, bridges, and buildings that help a place function well.
agro-based industries -: Agro-based industries are businesses that use farm products to make things like food, clothes, and other goods.
renewable energy -: Renewable energy comes from natural sources like the sun, wind, and water, which can be used again and again.
climate resilience -: Climate resilience means being able to handle changes in the weather and climate without too much trouble.
startup ecosystem -: A startup ecosystem is a community of new businesses, investors, and other people who help each other grow and succeed.
cross-border trade infrastructure -: Cross-border trade infrastructure means the facilities and systems that help trade between different countries, like customs offices and transport routes.
regional cooperation -: Regional cooperation means different areas or countries working together to solve common problems and grow together.
sustainable growth -: Sustainable growth means growing in a way that can continue for a long time without harming the environment or running out of resources.
