Agartala: Sabroom will become the economic capital of NE India at the same time trade relations with South-East Asia will also develop, said chief minister Biplab Kumar Deb while laying the foundation stone for the state’s first special economic zone (SEZ).
The SEZ being set up at an estimated cost of Rs 635.5 crores at Paschim Jalefa village in Sabroom under South Tripura district with the approval of Ministry of Commerce and Industries in December last year on after the NITI Aayog recommended setting up the SEZ for agro-based food processing, rubber, bamboo and textiles sectors.
Addressing at the foundation laying ceremony, Deb said that Tripura once was connected only through a single lifeline and now the state has connected from seven different routes. Once the SEZ and Integrated Check Post is set up here, Sabroom will become the commercial capital of the entire NE region generating employment for the youth and help in developing Atmanirbhar Tripura.
He also said that the SEZ would generate 5,000 jobs for the unemployed youths while it is estimated that more than 12 thousands skilled workers will be given opportunity and work.
“The central government revoked some benefits from special economic zones, but the Tripura government will continue those subsidies through TIDC. Along with a 50 per cent subsidy in electricity, another 30 per cent subsidy will be given in other sectors. The first 5 years will be GST free and the next 5 years would be 50 percent GST”, Deb said.
He also said that the Tripura Industrial Development Corporation, is expected to launch new avenues to attract huge private investment, due to its location and close proximity to Chittagong port in Bangladesh and the land port being built at River Feni in Sabroom. The logistic hub is likely to be set up at an expense of Rs 2,000 crores.
The Union Minister Piyush Goyal who also joined the ceremony through video conference from New Delhi lauded the efforts of the state government and said that the centre, state and railway ministry are working together to develop the Northeastern states.
“The SEZ will draw an investment of over Rs 650 Crore and generate employment of nearly 5,000 youths of the region. Goods produced there would be sent to different parts of India and abroad. The SEZ will provide openings for rubber-based industries, tyres, rubber bags, textiles industries and agro-food processing units”, Goyal said.
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