Tata Group submits application to set up semiconductor processing plant in Assam: CM Sarma

Speaking on the occasion, Chief Minister Sarma said that to create avenues of self-employment and make the youth of Assam self-reliant, the Chief Minister's Atmanirbhar Assam Abhiyan was launched on September 23.

Tata Group submits application to set up semiconductor processing plant, image credit: Reuters

Assam CM Himanta Biswa Sarma said that the Tata Group has submitted an application to set up a semiconductor processing plant in Assam with an investment of Rs 40,000 crore.

"Tata Group has submitted an application to set up a semiconductor processing plant in Assam with an investment of Rs40,000 crore. This will be a game-changer."

"My gratitude to Prime Minister Narendra Modi for his continuous guidance in transforming our state," the Chief Minister said in a post on X.

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Earlier in the day, Chief Minister Sarma launched a portal to start the application submission process of Mukhya Mantri Atmanirbhar Asom at a function held at Lok Sewa Bhawan in Guwahati.

Speaking on the occasion, Chief Minister Sarma said that to create avenues of self-employment and make the youth of Assam self-reliant, the Chief Minister's Atmanirbhar Assam Abhiyan was launched on September 23.

He said that under the Abhiyan, steps will be taken to empower two lakh youth for entrepreneurial ventures.

The beneficiaries under the scheme are entitled to receive Rs 2 lakhs in two instalments as a combination of government grants plus interest-free government loans to establish micro-enterprises or service units.

The Chief Minister said that the scheme plans to target two lakh eligible beneficiaries over the next two years. He said that each of the two lakh youth will be given Rs. 2 lakh.

Out of this, Rs 1 lakh will be given as a government subsidy and the remaining Rs 1 lakh will have to be returned after the completion of five years of their business without any interest.

CM Sarma said that the scheme was launched to empower the youth financially and make them eligible for other loans from the central government.

He said that the web portal created for the scheme has so far witnessed the registration of 2,29,145 beneficiaries.

He also said that 1591 youth having professional degrees will be entitled to a loan amounting to Rs 5 lakh under the scheme, of which 50 per cent will be government subsidy and the remaining 50 per cent will be an interest-free loan.

Chief Minister Sarma also said that the state has already witnessed a robust industrial climate.

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