The first Global Investors Summit in Assam will be held here in February next year and Prime Minister Narendra Modi will inaugurate it.
The state government plans to utilise the event to showcase Assam's business potential with attractive policies so that investments are made, Commerce and Industry Minister Chandra Mohan Patowary said.
"We will organise a Global Investors' Summit in Guwahati on February 3-4, 2018.It will be inaugurated by the prime minister," he told a press conference after the cabinet meeting which decided it.
Patowary also informed that the cabinet meeting has approved amendments to Preferential Purchase Policy to boost businesses of the micro, small and medium enterprises (MSME).
"Under the new policy, it will be made mandatory for all government and semi-government offices to make at least 25 per cent of all purchases from local MSMEs," he said adding the existing policy was not being actively pursued and the changes are expected to make it more effective.
The meeting also decided to set up an industrial zone on 160 sq km, which will be converted into a land bank.
A new sugar policy was also approved by the cabinet to facilitate setting up of sugar mills in the state and encourage sugarcane farming to make the state a hub of sugar production, Patowary added.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)