The Central Government as well as the State Government have made huge
investments in public infrastructure like National Highways, Railways, Airports, reliable Internet and Mobile connectivity, Waterways and wide Banking Network. As a result, Tripura is a developing state now. The GSDP has doubled in the last six years, stated the Chief Minister Prof. (Dr.) Manik Saha today after inaugurating the Destination Tripura Business Concave at the Hapania International Fair Ground. Today’s programme was also virtually attended by the Union Minister of Commerce and Industry Piyush Goyal and DoNER Minister Jyotiraditya Scindia. At the outset of the event the Chief Minister and other guests inaugurated the theme-based exhibition stalls opened on the occasion of this Business Conclave.
Addressing the Conclave the Chief Minister said, Tripura has abundant stock of
natural gas, rubber plantations, GI-tagged Queen Pineapple, premium agarwood, varied bamboo species and a rich horticulture base. Tripura is third fully literate State with large pool of technical and skilled manpower. Now, the time is ripe for private investment to take benefit of robust infrastructure and natural resources. He said, over 1200 entrepreneurs, industrialists and investors from across the country and abroad have come participate in this Business Conclave today. More than 250 MoUs worth more than Rs. 1 lakh crore are going to be signed as part of the Conclave. Extensive policy reforms related to multiple sectors including land, urban planning, industry, health, education, tourism have taken place. That is why now Tripura a fertile ground for investment.
Inspired by the appeal of Prime Minister to implement ‘Reform Express’, Tripura
has secured 1st Rank among all the States and Union Territories in Deregulation and Compliance Reduction Phase I as well as Phase II. The land use change procedures, streamlined industrial and business permissions have been simplified, built Single Window Portal SWAAGAT and introduced risk-based inspections. Government Land is available on lease for social, educational and commercial projects at very moderate rates. Tripura is one of the few States that issue all industrial and business related approvals through Single Agency. ‘One Business One License’ is our principle, ‘Ease of Doing Business’ is our promise and ‘Ease of Living’ is our ultimate goal, the Chief Minister declared.
The Chief Minister said during the last year, Investment proposals of more than
Rs. 30,000 crore (thirty thousand crore) were received, out of which projects of more than Rs. 8,000 crore (eight thousand crore) have been grounded. The state has 1,58,000 hectares of natural rubber plantations, the second-largest in the country. Rubber-wood based industries including plywood & veneer manufacturing a nd Biochar plants using rubber-wood waste are the new investment opportunities. Similarly, the state is expanding industrial bamboo cultivation to 45,000 hectares. Industrial processing for engineered bamboo products, bamboo boards, biomass and briquettes, biochar, pulp and paper and bamboo composites have very high potential for investment. With 2.27 Crore Agar trees, Tripura is India’s leading and most credible Agar ecosystem. Investments opportunities are available in Agar Inoculum, Agar oil distillation units, Attar and Perfume manufacturing, Hydrosol and wellness products.
The Chief Minister said other potential investment areas are establishing fish feed
manufacturing plants, cluster-based fish farming, fermented and dried fish processing,
fish markets and transhipment yards and aqua tourism. Similarly, in the livestock sector,
there is demand for modern meat processing, establishing large-scale commercial dairy
farms with milk processing, commercial layer farms, hatcheries, poultry feed
manufacturing, and modern veterinary diagnostics and animal healthcare services. Then
there are prospects in Organic Plantations, Blending and Packaging units, Value-added
Green Tea, White Tea, Rose Tea and Herbal Tea, Catechin Extraction Plants, Tea Tourism
and Tea Museum. Tripura is blessed with abundant natural gas. The upcoming 253-
kilometre North East Gas Grid will connect Tripura with the national gas network, opening
new avenues for downstream gas-based enterprises. The state targets to achieve 815
MW renewable energy capacity by 2030.
The Chief Minister said, Tripura is strategically located, sharing a border of 856
KMs with Bangladesh and geographical location makes it as the Gateway to the
Southeast Asia. Agartala–Akhaura international Rail Link, Development of Maharaja Bir
Bikram Airport as International Airport, Maitri Setu connecting Sabroom to Chattogram
Port, and Sonamura–Daudkandi Inland Water Transport route to Kolkata and Haldia Ports
through Bangladesh are real opportunities for seamless multimodal transport and logistics
ecosystem.
Tripura is equally moving ahead in tourism sector. With an investor-friendly Tourism
policy, support for homestays, Guidelines and several avenues for Eco-Tourism, Heritage
Tourism, Religious & Spiritual Tourism, Adventure Tourism and Wellness Tourism,
archaeological tourism, Tripura has emerged prominent tourism destination. Investible
Projects are Star Category Hotels, Resorts in Tea Gardens, House Boats in Chabimura
and Dumboor Lake, Destination Wedding near Neer Mahal, Panchakarma & Yoga
Meditation Centers, Ropeways and Cable Cars, Sky Walks to name a few.
The Chief Minister said, Matabari Tourism Circuit is being benchmarked with the
best national and international best practices for enhanced global tourist experience.
Buddhist Circuit linking important locations in the North East is another area for tourism
related investments. To promote the establishment of Higher Educational Institutions, the
state has rationalised regulatory framework by removing the requirements for land,
endowment fund and built-up areas.
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With focus on knowledge, innovation, and academic excellence, the Chief Minister
invited the education institutions to invest in Tripura. He said the state has made
remarkable progress in the field of healthcare services as well, adding that the state
government is committed to transforming the State into a leading hub for healthcare,
pharmaceuticals, biotechnology and medical innovations. With its long international
border with Bangladesh and proximity of Nepal, Bhutan and Myanmar, Tripura provides
access to a vast regional population and significant opportunities for cross-border
healthcare services, pharmaceutical manufacturing and medical trade. Resultantly there
are prospects for cross-border business in healthcare and modern pharmaceuticals.
Agartala has India’s third International Internet Gateway along with Mumbai and
Chennai. The state has prioritized investments focusing on Cyber Security Operations,
Artificial Intelligence, Animation, Gaming studios, Electronics Assembly units, Printed
Circuit Board (PCB) manufacturing, and Global Capability Centres (GCCs) for chip design
and semiconductor engineering. Under Tripura Startup Policy 2024, more than 200
Startups are recognized. Under Data Centre Policy 2021, major companies like Bharti
Airtel are establishing Data Centers in Tripura. The Law and Order situation in Tripura is
very much congenial for investment. With the surrender of insurgent groups in 2024, the
State has become completely free from insurgency and extremist activities.
The central government would come to support in the export promotion and
creating new market avenues. Taking part in the Destination Tripura Business Conclave
virtually, the Union Minister of Commerce and Industry Piyush Goyal urged the
entrepreneurs and investors especially from the MSME sector to take advantage of this
opportunity. At the same time he also invited the investors from Tripura to take the
advantage of new opportunities to open up following Destination Tripura Business
Conclave. He was hopeful that Tripura would scale new heights in the coming days in the
manufacturing and logistics sector based on agriculture, bamboo, rubber, Agar and
abundant natural resources that the state possesses. He said, Rs. 6,000 crore would be
invested in the Northeast region. With the support of the central government industrial
parks will be established. In the light of that Tripura, with its plenty of natural resources,
skilled workforce and youths, peaceful situation, digital governance, is placed at a special
position compared to other states. To the investors he said, investing in Tripura does not
mean investment in a single state, but it is the entry to a new greater market.
Referring to the positive sides of investing in Tripura the Union Minister of
Commerce and Industry also said, Tripura is the first state in the country to have fully
implemented the phase – I and phase – II of the central government designated
deregulations. Resultantly the legal and procedural complications have been simplified to
a great extent for the investors or entrepreneurs. Besides, other positive aspects like
Single Window System, government incentives, improved connectivity are there. He said,
due to the Act East Policy of the Prime Minister, HIRA model and under the able
leadership of Chief Minister Prof. (Dr.) Manik Saha Tripura has seen new flow of
transformations. Not only that, Tripura is now playing a significant role in the region as
well.
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DoNER Minister Jyotiraditya M. Scindia, addressing the Destination Tripura
Business Conclave virtually, encouraged the investors and entrepreneurs. He said,
investment in Tripura would open up new avenues of market, as due to its geographical
location Tripura is a gateway to the South-East Asia. He said over the last several years,
Tripura, as one of the Ashtalaxmi states of the Prime Minister, has witnessed remarkable
developments. As the Prime Minister has had special focus on the North-East region,
Tripura’s local resources coupled with the governments’ efforts, new avenues of
investment have emerged in the state. Tripura has better connectivity now. Additionally,
prospects in rubber sector, high literacy rate of Tripura, opportunities for the youth in IT
and ITes, high GDP and surplus power generation of the state, the rail and road
communication potential with Bangladesh have boosted the investment opportunities in
Tripura. In view of all these, the DoNER Minister urged all to contribute to the building of
a Viksit Bharat by being a partner in Tripura’s journey of development.
Speaking on the occasion, the Industries and Commerce Minister of the state
Santana Chakma said Tripura would emerge as a gateway for investment in the NorthEast region. At the inaugural event of the Conclave some symbolic MoUs were signed.
Among other dignitaries were present members of the State Council of Ministers, Mayor
of Agartala Municipal Corporation Dipak Majumder, High Commissioner and delegates
from Chile, Bangladesh, Nepal, South Africa, Kazakhstan, Uzbekistan, Philippines,
representative of business houses and investors. Secretary of the industries and
commerce department Kiran Gitte delivered the welcome address, while vote of thanks
was given by the Chairperson of FICCI-NE Chapter Ranjit Barthakur. A related
documentary was screened during the event.
