Congress Slams BJP Over Himanta Biswa Sarma's Wife's Foreign Assets

India's Assam Election 2026 has taken a dramatic turn as the Congress party accused Chief Minister Himanta Biswa Sarma of concealing foreign assets linked to his wife, Khera, triggering a political firestorm. The allegations, made during a press conference in Guwahati on 12 May, have intensified the rivalry between the ruling BJP and the opposition Congress, raising concerns over transparency and governance in the state.

Political Tensions Escalate

The Congress party released a detailed report alleging that Khera, the wife of Himanta Biswa Sarma, held undisclosed property in Dubai worth over ₹12 crore. The document, compiled by a private investigative firm, claims that the assets were acquired between 2019 and 2023, during Sarma’s tenure as Chief Minister. The report was shared with media outlets in Assam, leading to widespread coverage across regional and national platforms.

The BJP has dismissed the allegations as a political stunt, with state party leader Pradyut Bhuyan stating, “These are baseless claims designed to destabilise the government.” However, the accusations have already begun to influence public perception, with opinion polls showing a 5% shift in voter sentiment towards the opposition in the last two weeks.

Market and Business Implications

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The political turmoil in Assam has raised concerns among investors and business leaders. The state is a major hub for tea, oil, and agriculture, and any prolonged uncertainty could disrupt supply chains and investment flows. According to the Assam Chamber of Commerce, over 70% of local businesses are now monitoring the political situation closely, with some delaying expansion plans.

Analysts at ICICI Securities noted that the volatility could impact the state’s stock market performance. “Assam’s equity indices have seen a 3% decline in the past month, reflecting investor anxiety,” said Ravi Mehta, a senior economist. “If the allegations lead to a change in government, it could create further instability in the region’s financial landscape.”

Investor and Economic Concerns

Foreign investors have also taken notice of the political developments. A recent survey by the Assam Investment Board found that 42% of international firms are reconsidering their long-term strategies in the state. “We are closely watching the situation, as political instability can have a direct impact on policy continuity,” said Anjali Kapoor, a senior executive at a multinational firm based in Guwahati.

The state’s economic growth, which had been averaging 6.8% annually, is now under scrutiny. With the election approaching, the focus on governance and transparency has become a key issue for voters and investors alike. The upcoming vote, scheduled for 20 October, could determine the direction of the state’s economic policies for years to come.

What to Watch Next

The next few weeks will be critical for both political and economic stability in Assam. The Election Commission has announced that the final phase of campaigning will begin on 15 August, with the vote taking place on 20 October. During this period, the outcome of the allegations against Sarma will likely influence public sentiment and investor confidence.

Business leaders and analysts are urging both parties to prioritise stability. “The state needs a government that can deliver on economic promises, not just political rhetoric,” said Dr. Arun Dutta, a political analyst at Gauhati University. “The coming months will be a test of governance and public trust.”