Tripura offers an investor-friendly environment. The Government welcomes investments into the State, from both domestic and foreign investors. Tripura Industrial Development Agency (TIDA) has been established to provide single-window service to investors in facilitating all necessary Government clearances.
Tripura has vast reserves of natural gas in non-associate form. The gas is of high quality, with high methane content of upto 97%. The availability of superior quality natural gas, at concessional price, offers a great opportunity to prospective investors, to set up gas-based industrial units, using natural gas as feedstock, like urea, methanol, PVC and other projects. Besides this, natural gas can also be utilized as a cheaper source of energy for various energy-intensive industrial projects.
The State government has identified food processing as a major thrust area. There is a vast potential for setting up of food processing units in the State.The agro-climatic conditions in Tripura are ideally suited for production of a large variety of horticultural crops. The "Queen" and "Kew" varieties of pineapple, jampui oranges, lichis and cashew of Tripura are well known in the rest of the country. These products are largely organic in nature.
Information Technology (IT)
Tripura has been considered the second best IT destination in the North East. IT sector (including IT-enabled services) has been identified as one of the major potential growth sectors by the state. The high literacy rate of the State provides additional advantage for development of the sector. IT industry being a knowledge-based industry, educated human resource is the most promising resource of the State. It also has good network of schools and colleges spread across the State, including an Engineering College, a Polytechnic and four ITIs. The State Government has also accorded special status to this industry and special incentives have been announced for IT industry in the new incentive package.
Tripura is an attractive tourist destination. The state has a rich cultural heritage. There are number of historical Hindu and Buddhist sites. The State also has rich flora and fauna. There is also great potential for development of tourist circuits, involving all the NE states. In Tripura, hotels have been considered as industry, with a view to promote tourism. Hence, all incentives available to other industrial units are also available for setting up hotels.
Tripura is the second largest natural rubber producer in the country, after Kerala. In 2016-17, the total area under plantation in the state was 83,280 ha, while the production of rubber stood at 56,380 MT. With a total plantation potential for 100,000 ha, there is a significant investment potential for setting up rubber-based industries in the state.
From time immemorial, Tripura has carved out a name for itself in the field of handicrafts. The gifted artisans produce wonderful objects of crafts from simple material like cane, bamboo and wood. Tripura's unique topography and the gracious nature bestowed their choicest blessings on the hereditary artisans of Tripura. Excellent variety of handicrafts using bamboo and cane are made by different ethnic groups which have earned great name and fame throughout the country. The state government has initiated steps in view of the vast potential of the industry to grow, both in domestic as well as international markets. The state also welcomes private enterprise in this field.
Tripura is endowed with rich and diverse bamboo resources. It is home to 21 species of bamboo. The state has an area of around 7,195 ha for plantation of bamboo. A modern bamboo tiles factory has been set up at Bodhjungnagar to boost the productive utilisation of the huge resource.
Investment Policies and Incentives
Government has always endeavoured to set up the right kind of business climate to motivate investments in the State. In order to attract investment to the various sectors and thus contribute to the development of the economy as a whole, the Government of Tripura has made several policy announcements. These policies have unveiled a roadmap and graphed a trajectory for bolstering the industrial climate of the state. These policy documents also envisage the investment incentives and schemes for the investors. Its policy regime is simple and transparent and is administered by an efficient and responsive machinery.
The major policy announcement being the information technology policy, with three broad underlying missions:-
(i) development of human resource for IT through adoption of IT education in educational institutions of Tripura;
(ii) promotion of electronic governance for:-
(a) Efficient and effective delivery of government services
(b) Improved revenue collections
(c) Improving financial management
(d) Better dissemination of information on government functions, through setting up of IFCs and hosting of websites.
(iii) positioning the state as an attractive location for investment by global and national companies through attractive packages. This will be with an objective to create employment potential in the state in IT industries.
1. Technology centres to be set up in Tripura for small and medium enterprises
2. Industrial Rubber Park in Bodhungnagar, spread across 24 ha.
3. Smart Cities Mission, for which Agartala is the city identified in Tripura.