GUWAHATI: The ASEAN-INDIA Business Council LAO-PDR chapter has lauded the Assam government approval of an industrial policy on agar plantation.
Addressing the media here on Wednesday, Habib Mohammed Chowdhury, chairman, ASEAN-INDIA Business Council LAO-PDR chapter, said the decision of the state Cabinet to approve the ‘Industrial and Investment Policy of Assam, 2019, would be a major boost for agarwood planters in the state.
Chowdhury, who is from Hojai and currently settled in Laos, is the founder chairman of the HSMM Group of Companies in Laos.
He has been working closely with the Assam government for the formulation of a policy on agarwood business.
“This is a very progressive moment that will have an impact for years to come. The revenue generated from this project will enhance the quality of life for the people of Assam,” he said.
The Assam Cabinet on July 22 allowed agar processing for home grown agarwood which may go up to 35 bigha of crop land. The initiative will largely benefit the farmers of Sivasagar, Jorhat, Golaghat and Hojai districts of Assam, including parts of adjoining districts.
“There are around 4 lakh agar trees in Hojai and central Assam. Also, there are around 10 lakh trees in Dibrugarh, Sivasagar, Jorhat and Golaghat districts in Upper Assam. Hence the Cabinet has decided to set up an International Trade Centre on agarwood inGolaghat district,” Chowdhury said.
He recalled his meeting with chief minister, Sarbananda Sonowal, other ministers and top officials during the ASEAN-India Pravasi Bharatiya Divas in Singapore last year when he had discussed about the issue and how a proper policy would help Assam gain royalty from the business.
Chowdhury had also pitched for streamlining of agarwood business in the state at the Advantage Assam: Global Investors’ Meet in Guwahati last year.
“Subsequently, we had signed an MoU with the Assam government for the development of agar industry in the state,” he said.
The daily trade of agarwood in Assam is around Rs 4 to 5 crore, which includes raw material supply for the finished product.
“The Assam government was at loss of around Rs 200 crore because of not having a proper policy on agar plantation. Besides, the planters were also at loss because of lack of open trade. This will now change, thanks to the officials who made this possible,” he said.