Tripura is one of the seven states in the North-east. Tripura acts as a gateway between Northeast India and Bangladesh. The state shares an 856-km international border with Bangladesh. This offers enormous potential for international trade. Tripura is endowed with rich and diverse bamboo resources and is the largest bamboo producing hub in India.
Tripura has several potential, yet relatively unexplored sectors such as organic spices, bio-fuel and eco-tourism. It is rich in natural resources such as natural gas, rubber, tea and medicinal plants. The state is also known for its vibrant food processing, bamboo and sericulture industries. The state is second largest natural rubber producer in the country, after Kerala.
Between 2004-05 and 2015-16, Gross State Domestic Product (GSDP) expanded at a Compound Annual Growth Rate (CAGR) of 9.13 per cent to US$ 5.20 billion whereas the Net State Domestic Product (NSDP) expanded at a CAGR of 8.50 per cent to US$ 4.47 billion.
As of January 2018, Tripura had a total installed power generation capacity of 727.33 MW and in February 2015, the state also initiated India’s first solar power plant at Monarchak.
Some of the major initiatives taken by the government to promote Tripura as an investment destination are:
- Agartala Airport has been upgraded by extension of the airstrip and provision of night landing facilities.
- Telecom infrastructure is being upgraded in the state by laying an optical fibre cable (OFC) network, and connecting all towns by strengthening the internet backbone, among others.
- The Government of India allocated Rs 11.21 crore (US$ 1.73 million) for implementation of projects related to water supply, sewerage and parks approved in SAAP-I in December 2017.
- Under the Urban Infrastructure Development Scheme for Small and Medium Towns (UIDSSMT), US$ 2.6 million has been allocated for the development of the storm drainage system in Ranirbazar, and US$ 14.4 million for the development of roads in Belonia, Kailashahar and Kamalpur.
- A modern food park has been set up near Agartala to boost the food processing sector. The Sikaria Mega Food Park Private Limited is a fully integrated facility that would enable reduction in wastage, better prices for farmers and an effective supply chain system.
- The state government is focussing on adopting IT for extending e-government facilities to the state citizens. The Mission Mode Project for computerisation of Commercial Taxes (MMPCT) is being implemented in the state to improve efficiency, transparency in the system and making income tax collection dealers friendly. The proposed project cost is approximately US$ 1.21 million.
- Under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM), nine projects have been sanctioned, out of which three have been completed.
- Capital city Agartala has been selected under the central government's flagship Smart Cities project.
- The handloom industry has received funds under the schemes such as Integrated Handloom Development Scheme (IHDS) and Marketing and Export Promotion Scheme (MEPS).
Tripura State Presentation
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