paragraph of economy of assam
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Assam is the largest economy in the northeast region. Owing to its relative proximity to the rest of the country and availability of quality infrastructure, the state offers a favourable environment for industry.
Assam has the largest tea growing area in the world, constituting around one-seventh of the global tea production. The state accounts for over 53.55% in the country’s overall tea production. Between April 2020 and July 2020, production of tea in the state stood at 210.13 million kgs, contributing 48% to the total tea production in India. It also has 20 industrial estates, three industrial growth centres, 11 Integrated Infrastructure Development Depots, 17 industrial areas, 12 growth centres, eight mini industrial estates, one export promotion park and one food processing industrial park. Assam is also the most popular tourist destination among the northeast states.
At current prices, Gross State Domestic Product (GSDP) of Assam is estimated to reach Rs. 4.09 trillion (US$ 58.47 billion) in 2020-21. The GSDP of the state grew at a CAGR (in Rs.) of 12.58% between 2015-16 and 2020-21.
According to Department for Promotion of Industry and Internal Trade (DPIIT), total FDI inflow for Assam stood at US$ 5.35 million between October 2019 and June 2020.