Tripura gears up for ease of doing business and employment generation
First Published: 7th June, 2024 20:36 IST
Kiren Gitte, Secretary of the Industries and Commerce department, said that the government is actively working towards transforming the state into a more investment-friendly destination.
In a bid to attract more industries and create employment opportunities, Tripura’s Industries and Commerce department is actively working towards transforming the state into a more investment-friendly destination.
This was announced by Kiren Gitte, Secretary of the Industries and Commerce department, alongside the department’s Director Vishwasree B, during a press conference on Friday at the Secretariat.
The officials said that the department is implementing significant changes in investment policies, offering lucrative schemes, infrastructural support, and financial subsidies to investors.
These measures aim to enhance the ease of doing business in the state and provide tax holidays to attract private sector growth.
Moreover, Tripura has been promoting ease of doing business through effective policy and regulatory changes.
The state ranked first among North Eastern states in 2016 and has maintained the second position since 2018.
The government is also expanding industrial estates across all districts and identifying new industrial locations.
According to the officials the department’s key sectors for additional subsidies include rubber, bamboo, agri-horti products, agar processing, food processing, and tea.
Meatime, recognizing the potential for growth through the value addition of locally available resources, the department is focusing on the RAMP (Raising and Accelerating MSME Performance) program.
Supported by the World Bank under the Ministry of MSME, Government of India, the RAMP program the state has received a grant of Rs 65.17 crore and will commence in the fiscal year 2024-25, running for three years.
The program aims to identify 32,000 educated unemployed youth over three years, raising awareness about entrepreneurial opportunities through 15-day capacity-building sessions and training.
The goal is to formalize 10,000 new and existing Micro, Small, and Medium Enterprises (MSMEs).
Efforts are being made to increase foreign trade by opening new border haats with Bangladesh and improving infrastructure and connectivity with land ports.
In may be mentioned that in the last financial year, the volume of trade with Bangladesh was Rs 715.98 crore, with exports amounting to Rs 12.31 crore and imports to Rs 703.67 crore.
These initiatives are part of Tripura’s broader strategy to attract investment, promote private sector growth, and create employment opportunities within the state.
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