Tripura News: Rubber, Agarwood sectors offering investment scopes: TIDC
With the border business ecosystem is fast evolving, a new dawn for investments in Tripura is ushering. Construction of Maitri Setu, establishment of SEZ, thriving Rubber, Agarwood and Bamboo sectors have created opportunities for investors.
Speaking at the session for Tripura at the East India Summit organised by the Confederation of Indian Industry (CII) on 5 October, T K Chakma, IAS, Managing Director, Tripura Industrial Development Corporation (TIDC) Limited, highlighted upon the progressive investment climate of the state.
As a potential gateway for North East, the official figure of Bangladesh - Tripura trade stands at Rs 733.26 cr. One multisector SEZ is being developed in Sabroom, which will have access to Chittagong Port. The 400 crore aid from Asian Development Bank for industrial infrastructure will be a boom for the state, he opined.
The state waterways infrastructure has been included under Indo Bangla Protocol (IBP) routes in May 2020.
Rubber sector holds tremendous potential for investment in Tripura, as it generates a revenue worth Rs 600 cr to the states' economy, engaging over a lakh farm livelihood.
The state is the second highest producer of rubber with a designated Rubber Park in Bodhjungnagar with potential for rubber based industries.
The state is also working towards up scaling of Bamboo Park with modern facilities in West Tripura.. The state has 21 species of high yielding bamboo, 54 tea estates, various food processing industries including pineapple and jackfruit processing, rice mill, meat processing, bakery etc, extensive cultivation of Agrwood, Poultry and Piggery etc.
One incubation centre will be created in each district under Prime Minister Food Procesing Micro Enterprise Scheme, he informed.
The Tourism potential of Chabimura and Dumboor was showcased through a video.
Addressing the session, Tinku Roy, Chairman, Tripura Industrial Development Corporation Ltd, said the state is planning to enhance the trade of agar oil by extensive cultivation of agar wood.
Roy urged the investors to make maximum use of "SWAAGAT Portal" for Statutory Clearances.
Along with other benefits, the state offers additional subsidy for thrust sectors like Food Processing, Rubber, Bamboo and Tourism. He informed that Tripura exports worth 650-700 crore to Bangladesh while imports only to the tune of 20-25 crores. They have asked for export permission for Rubber and Spices. Tripura is also geared to produce the whole Agarbati rather than only the sticks.
Abhijit Barooah, Chairman, CII North East Council & MD, Premier Cryogenics Limited mentioned about Maitree Setu and Agartala-Akhaura Rail network and hoped that “ Connectivity to Bangladesh is a game changer for Tripura”. Mr. Barooah talked about the investment opportunity in Tripura as TIDC is setting up SEZ and they are looking for co developers
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