Assam Shuts Down Four State Firms as Semiconductor Project Ramps Up

Guwahati: The Assam government shuttered four struggling public sector undertakings over the last decade. Industries Minister Bimal Borah confirmed the move while dismissing rumors of future privatization plans for other state-owned firms. The closed entities include the Assam Minorities Development and Finance Corporation and the Assam Plantation Crops Development Corporation. Two other chemical and fertilizer plants also closed.

Staff counts were low. Two of the firms had no employees left. The remaining 24 workers took the Voluntary Retirement Scheme to leave. Borah told the legislative assembly, "The government has no proposal to privatise any state-owned PSU."

Economic focus is shifting to high-tech manufacturing. A massive Tata Semiconductor Assembly and Test facility is rising in Jagiroad with a price tag of 27,000 crore rupees. Central and state governments are pumping billions into the site to build a hub for electronics and artificial intelligence.

The plant promises to generate 27,000 jobs. Officials expect 15,000 direct roles and 12,000 indirect positions. Assam is already prepping a local workforce, sending nearly 2,000 women to Karnataka for specialized training. Beyond tech, the state is pushing exports, recently shipping agarwood chips to Saudi Arabia and the UAE for the first time.