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Jorhat becomes popular investment destination for multinationals

December 25, 2010 - Jorhat

Multinational brands, foreign banks and investors from across the country have flocked to Jorhat to tap the potential of the region as the militancy has declined in Assam. he city has transformed into one of the biggest markets and most investment friendly regions in the country.

Shopping malls, luxury clubs and hotels, slimming centers and fast food chains have mushroomed all over the city.

The credit for this goes to the government's investment-friendly policies that allow investment inflow, capital formation and improvement of infrastructure facilities.

Under the 11th five-year plan substantial amount of investments have been made in to the region through the Ministry of Development of North Eastern Region (DONER) to improve the overall infrastructure of the region.

"Jorhat is the second biggest city Of Assam and is good for business. Land is easily available and labour is there in plenty which are the most important factors needed for the development of any region," said D. C. Aggarwala, President of the Upper Assam Chamber of Commerce.

"The customer base of Jorhat is large and different investor and multinational banks are coming up in the region. Also there are enough universities and colleges in the region catering to the need of skilled human resource," said Prasanta Baruah, the Jorhat Municipal Board chairman.

With increasing prosperity of the region, the spending capacity of people of Jorhat is seeing an upward shift leading to the growth the retail sector in Jorhat.

The transformation of this sector began in 2004, with the opening of Max Mart, Jorhat's first shopping mall.

Today many shopping malls and mega stores provide the best shopping experience to local residents as well as visitors.

"We have two stores in Assam, and one in Arunachal. We are also about to open a store in Dibrugarh also. We are also working towards launching new schemes for our customers as the competition is growing every day," said P. Aggarwalla, Manager, Max Mart Shopping Mall.

"Market is good in Jorhat and new shops are coming up and I hope it grows like this in future," said Suman Kalyan Baruah, a resident.

Jorhat is well connected with other major cities of the country through air and rail network.

The interstate and intrastate transport facilities have largely improved in the region giving a fillip to many other sectors like tourism, education and health services.

The region has many educational institutes and research agencies like Jorhat University, Assam Agricultural University.

Recently the centre has finalized a plan to open a National Institute of Design in Jorhat at an estimated cost of Rs 150 crores.

"Communication has largely improved in the region. Also the education facilities in the region are improving day by day helping to create large amount of human resource in the region," said Vishal Dev, a resident.

Investors have been looking at other sectors like food processing, plastic processing, education, hospitality, health and Information Technology.


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