Tripura is an attractive tourist destination. The State Has a rich history and archeology, Cultural heritage, traditional art and music. There are a number of historical Hindu and Buddhist sites. The State has also has rich flora and fauna, eco-tourism as well rural tourism is having potential in the State. There is also great potential for development of tourist circuits, involving all the NE States and if possible, Bangladesh as well. All this offers attractive opportunities for the Hospitality Industry including star category hotel.
Tripura is a hilly North-Eastern State of India blessed with natural rich topography, unique geographical location with tropic of cancer passing through its heart. The State, an abode of rich floral and faunal biodiversity, unique landscapes and moderate climate throughout the year has immense potential for tourism .Peaceful co-existence of nineteen indigenous tribes along with Bengali and Manipuri communities in the State, their diverse cultural streams and faiths, traditional art, music and festivals, beautiful handloom and handicrafts constitute irresistible charm as a tourist destination. It has spellbound rock cut sculptures of archaeological significance, Buddhist pilgrimage sites and the royal palaces that add to the charm. During 2018-19, total 5,29,879 tourists visited Tripura including 1,12,955 foreign tourists. The bulk of foreign tourists are from Bangladesh followed by tourists from USA, Canada and UK. Though in small numbers, tourists from Serbia, Sweden, Hungary and New Zealand visited Tripura in 2018-19. Tourist arrival registered 10% annual growth during 2018-19.
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 service sector activities, namely, Hotel Business, Tourism Promoting Activities (Water-Sports, Ropeways, Adventure and Leisure Sports) with a minimum investment of Rs.3 Crores (Excluding land) as Thrust Sector Industry for which there is a provision of additional subsidy/incentives under TIIPIS,2017.
Actual price or premium paid for the land, freehold or leasehold, as determined by the authorized agent and the actual expenditure incurred for construction of the office building, factory sheds, boundary walls as necessary for the enterprise are taken into account for determination of “Fixed Capital Investment” under Tripura Industrial Investment Promotion Incentives Scheme, 2017. 40% of the “Fixed Capital Investment” is given as capital investment subsidy under the State incentive scheme.
Fixed Capital Rebate
All eligible enterprises will be entitled to State Capital Investment Subsidy @40% on Fixed Capital Investment within the overall ceiling of Rs.70 Lakhs. State Capital Investment Subsidy will be provided to Tea Processing Units set up under the Cooperative approach by small tea growers @ 50% of fixed capital investment, subject to an upper ceiling of Rs.100 Lakhs. Sole proprietorship units belonging to ST, SC and Women will be eligible for an additional subsidy at the rate of 2.5% on fixed capital investment, subject to an aggregate ceiling of Rs.60 Lakhs or Rs.70 Lakhs or Rs.100 Lakhs, as the case may be, per enterprise.
“Fixed Capital Investment” means investment made in land, building, plant and machinery of the enterprise for commencement of commercial production on or after first day of April, 2017, but before or on thirty first day of March, 2022. For the purpose of going in for substantial expansion of an enterprise which commenced production within the Scheme period, the fixed capital investment means investment made in land, building and machinery on or after 01st April, 2022.
Reimbursement of Standard Certification Fees/Charges:- All eligible enterprises will be allowed one-time full reimbursement of fees/ charges/ other expenses on account of obtaining a standard certification in certain specific areas from National and Inter-national Bodies. The areas are: 1) ISO-9000 Quality Management system 2) ISO-14000 Environmental Management system 3) ISO-18000 Occupational Health and Safety Standards 4) BIS certification 5) Green Energy Certificate 6) Bureau of Energy Efficiency Certificate 7) FSSAI License 8) AGMARK 9) Organic Products ( (related to Tea and Horticultural items/ products) 10) Forest Stewardship Council (FSC).
All eligible enterprises will be entitled to an Industrial Promotion Subsidy equal to the net amount of the Central Sales Tax (CST), any other commodity tax and Goods and Services Tax actually paid by them to the State Government on sale of finished goods, subject to an overall ceiling of Rs.100 Lakhs per annum per enterprise. The aggregating limit of entitlement of an enterprise for 5 years shall not be exceeding to 100% value of investment made in plant and machinery.
Interest Cost Subvention
All eligible enterprises will be entitled to a reimbursement of interest paid to banks/financial institutions, @5% on the Term Loan availed by the enterprises, subject to a ceiling of Rs.10 Lakhs per year per enterprise.
Electricity Duty Rebate
All eligible enterprises will be allowed Partial Reimbursement of industrial power charges paid to Tripura State Electricity Corporation Ltd. or an approved agency. The Reimbursement of power charges shall be @25% of the power charges actually paid by the enterprise, subject to a maximum amount of Rs.20 Lakhs per annum per enterprise.
Subsidy on fees paid for Credit Guarantee Trust Fund for Micro and Small Enterprise (CGTMSE)
100% reimbursement for one time guarantee fee paid and the service fees paid every year by Micro and Small enterprises for CGTMSE coverage taken on loan granted by Banks/ NBFCs shall be provided for 5 years.
Export Promotion Subsidy (Thrust Sector Only)
Industrial enterprises under thrust sector which export their manufactured goods to Bangladesh through the Land Custom Stations in the State shall be provided re-imbursement @ 10% of the value of goods exported subject to a ceiling of Rs. 20 Lakhs per enterprise per annum. Re-imbursement of payment shall be made on the basis of records available with Central Customs authority.