Unraveling India's growth potential through a series of webinars featuring central & state ministers
Agriculture: The Agro-climatic conditions are favourable for growing various fruits and horticultural crops. The products of Tripura are well known both on the table and in processed forma. There is scope for expansion of this sector under any specific varieties.
A modern Food Park has been set up near Agartala to give a fillip to this sector. A Modern Food Testing Lab (NABL Accredited), 1500 MT Cold Storage, Warehouse, Pack house etc. facilities are available in the Food Park.
There is a ample scope for area expansion under organic spices cultivation in Tripura. Major spices include Ginger, Turmeric, Chilli, Black Pepper, Cinnamon, Tezpatta etc. There is a vast potential for setting up of food processing units in the State. The State also has potential in the meat processing sector.
1. Rubber: Tripura is the second largest rubber producing state in the country, after Kerala. More and more plantations are reaching yielding and the productivity levels are also encouraging. Keeping in view the area under plantation, growth potential and rubber production trends, there is vast potential for setting up of rubber-based industries in the State.
The State Government has set up a Rubber Park, with technical support of the Rubber Board, to facilitate setting up of rubber-based industries. All common facilities including Centralised Quality Control Lab, Training Centre, Tool Room, Centralised Latex and Carban Black Masterbatch Unit, Warehouse for Raw Material Storage, Common Effluent Treatment Plant (CEPT) are being provided in the park for rubber-based industries.
Tripura is an attractive destination for rubber-based industries. Keeping in view the natural advantages and the positive factors, a good number of rubber-based industries have come up. These include rubber thread, thread rubber manufacturing, ISNR, Tyre retreading etc.
There is a vast scope on investment in sectors like tyres/ tubes, auto parts, footwear, tread rubber, vulcanized rubber, rubber band, rubber cushion and mattress, latex thread, surgical gloves, hoses etc.
Bamboo: Tripura is endowed with rich and diverse resources of bamboo with tradition usage. Tripura is home to 21 species of bamboo out of 130 species available in India.Tripura Cane and Bamboo handicrafts are considered to be among the best in the country for their exquisite designs, wide range of products and artistic appeal. The industry has a great export potential as well. Not only that, industrial products like bamboo tiles, laminated products, ply boards, corrugated sheets etc can be produced and used as building materials fr furniture manufacturing etc. Studies have shown that Bamboo is a very effective substitute for timber and is, in fact, better in many respects.
Tripura Bamboo Mission (TBM) has been launched in 2007, under PPP framework for integrated development of Bamboo Sector and to facilitate setting up of bamboo-based industries. This is India’s only Bamboo Industrial Park. One Bamboo Floor Tiles unit and one Bamboo round stick making unit are already operational at the Bamboo Park.
To encourage the investors to invest in the State of Tripura, State Government has introduced State incentive scheme, namely, Tripura Industrial Investment Promotion Incentive Scheme (TIIPIS), 2017 for five years w.e.f. first April, 2017. The Government of Tripura has declared priority sector industrial enterprises as "Thrust Sector Industries" in the State to promote new industrial enterprises bases on local resources. "Thrust Sector Industries" means the industrial units which are using Bamboo, Rubber, Agri and Horticultural produce as their major raw materials during production. Tea manufacturing shall also be considered under thrust sector industries. There is a provision of enhanced rate of subsidy/ incentives under TIIPIS,2017.
Capital Investment Subsidy: Additional Capital Investment Subsidy shall be provided to the industrial enterprises which continue to operate for 5 years from the date of commencement of commercial production and have gone in for substantial expansion after 5 years of their continuous operation shall be considered for subsidy on additional fixed capital investment at the applicable rates of 40%, subject to an upper ceiling of Rs. 30 Lakhs. This is further subject to increase in the value of fixed capital investment of an industrial enterprise by not less than 25% for the purpose of expansion of capacity/ modernization/ diversification.
All eligible enterprises shall be given 100% exemption from the payment of earnest money and security deposits for items indicated in their Eligibility Certificate issued under this Scheme, on tenders floated by the State Government Departments/ Agencies (including Corporations/ Undertakings/ autonomous bodies of the State Government). However, such exemption shall be confined only to the tenders for procurement of goods. Procurement of Services, Works Contract, etc. are excluded from the scope of this exemption. The incentive under this clause shall be available to all the enterprises irrespective of the time/ year of their setting up, subject to fulfillment of other eligibility condition.
Additional subsidies/ incentives shall be provided to the industrial enterprises which continue to operate for 5 years from the date of commencement of commercial production. The provisions for providing additional subsidy to industrial enterprises after 5 years shall be operate as follows: