Tripura raises transport subsidy to 50% to attract investment

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Tripura raises transport subsidy to 50% to attract investment

Agartala, April 22 (UNI) In a bid to attract investment and industries, the government of Tripura on Friday increased the transport subsidy to 50% from the existing 10% for five years under the revised transport scheme. Tripura Industrial Investment Promotion Incentive (TIIPIS), 2022. Minister of Industry and Commerce, Manoj Kanti Deb said transporting industrial output out of state and channeling subsidiary inputs from neighboring destinations to Tripura have been a problem for industrial investors. Additionally, the two-year-old Covid19 pandemic has hit industrialization which received a boost after the BJP-led government came to power in 2018. Apart from increased air connectivity with all major Indian cities, rail connectivity with other parts of the country has been introduced. Rail service from Kishan has been extended to Agartala to facilitate transportation of agricultural products out of the state. Now, rail services to Mumbai and Bengaluru are ready to start and the construction of several national highways is underway, along with the expansion and improvement of existing ones. “Tripura has already gained access to Chittagong Seaport after opening a bridge over Feni River in South Tripura and Sabroom SEZ infrastructure is also underway. Rail link between Agartala and Dhaka is expected to be completed by this year which will make Tripura an investment hub for Southeast Asian countries,” Deb pointed out. grants to businesses and self-help groups for the establishment of industries in the state, he said, adding that the state transportation subsidy would be provided up to 50% of the cost incurred for transportation secondary raw materials sourced from out of state instead of the existing 10% transport subsidy for transporting finished goods Deb hopes investment incentives in Tripura have been significantly increased to attract investments and create job opportunities. It would encourage entrepreneurs to create industrial units based on locally available raw materials such as rubber, bamboo, and agricultural and horticultural products. The state has a huge opportunity for investment in industries based on gas, tea, agar oil extraction, rubberwood processing, and services and manufacturing, including hosiery, clothes and computers. For adventure tourism, the state has facilities such as water sports and ski lifts. UNI BB ARN SSP

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