Tripura likely to get Rs 600 cr investment proposals at business conclave: Minister

Tripura Industries and Commerce Minister Santana Chakma on Thursday said that a two-day ‘Business Conclave’ would be held here on February 7-8 and the state is expected to receive investment proposals worth Rs 600 crore in the summit.

The Minister said that the state would hold the ‘Business Conclave’ beginning on Friday to showcase Tripura’s potentiality in various sectors, especially the service sectors.

"We expected to receive proposals amounting to Rs 600 crore in Information Technology, education, healthcare, skill development and tourism sectors,” she told the media adding that over 100 investors and entrepreneurs from across the country are likely to attend the conclave.

Previously, the state government organised business summits to explore the possibilities of setting up industries based on agar and rubber, Chakma said.

She said that Chief Minister Manik Saha would address the conclave on the second day on February 8 to highlight the state's potentiality in various sectors. Due to the unrest in Bangladesh, no investor or entrepreneur was invited from the neighbouring country to join the business conclave this time, the minister said.

Chakma highlighted that the state offers a business-friendly atmosphere, power surplus, strategic connectivity, and a time-bound single-window system for approvals. Investors would also benefit from various incentives, including tax holidays and financial support.

The minister noted that in the past five fiscal years, some 160 business units have been established in Tripura, attracting investments of over Rs 1,600 crore.

Meanwhile, Tripura Chief Minister Manik Saha while inaugurating the ongoing 15-day-long 35th Industries and Commerce fair at the International Fair Ground at Hapania on the outskirts of the city said that Tripura has now emerged as one of the fastest-developing states in the northeastern region.

He had said that the BJP government is implementing a multi-faceted plan for the overall development of the state.

“Given the way the government is working towards progress, no one can hinder Tripura’s growth. The state's average domestic product has increased significantly compared to earlier. Tripura currently ranks second in terms of per capita income among the northeastern states. The state is now advancing rapidly,” said Saha.

The Chief Minister highlighted that the objective of the fair is to showcase the types of products being produced in the state and to understand consumer demand.

He had said: “The quality of various products manufactured in the state has improved significantly. Confidence among industrialists has also grown. Prime Minister Narendra Modi has emphasised the need to build this confidence, and the state government is striving to attract industrialists from outside to establish industries in Tripura.”