Tripura unveils new industrial scheme to attract investors

Agartala: The Tripura government has made “massive changes” in its industrial scheme to attract investment and pave the way for rapid economic growth in the state.

On Twitter, Chief Minister Biplab Kumar Deb on Saturday said that the upper limit for obtaining state subsidy on MSME investments has been raised to Rs 10 million.

Earlier, the subsidy limit was Rs 60 lakh.

Major changes have been made in Tripura Industrial Investment Promotion Scheme (TIIPIS) -2022 to increase investment in the state. To get state subsidy for MSMEs, the upper limit has been raised to Rs 1 crore Gone, “Deb said in a tweet on Saturday.

The CM also said that the state, in an effort to boost the manufacturing sector, would provide 50 per cent subsidy on import of secondary raw materials (to the state).

The transport subsidy for importing raw materials to the state from other places has so far been 10%.

Deb announced that fees for certifications such as ISO and BIS would be paid by the state, as his government sought to strengthen the ‘Made in Tripura’ initiative.
“It will help the state move on the path of self-reliance (self-reliance) and open new avenues for economic development,” he said.

A senior official of the industry and commerce department said on Saturday that under the new industrial scheme, various subsidies could be obtained through cooperatives and self-help groups for setting up industries in the state.

He also said that rubber, bamboo, tea, gas, horticulture, tourism, healthcare services and waste management would be given priority when it comes to granting incentives.

The official said that incentives for investment in the state have been significantly increased to attract traders and create employment opportunities.

Priority sectors will get 40% subsidy on capital investment while non-thrust sectors will get 30% subsidy. He also maintained that a capital subsidy of Rs 5 lakh would be available for setting up industries on 30 acres of land in sectors like horticulture, real estate, logistics hub infrastructure development.

In addition, under the new policy, these MSME units will be given one-time incentives to participate in floating tenders, fairs, expo meetings and exhibitions.

The new industrial scheme, effective April 1, will run until March 31, 2027.