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The Indian Railways has set up a goods dumping yard at Sabroom
The Indian Railways has set up a goods dumping yard at Sabroom|Representational image
TRIPURA

Tripura to get its first Special Economic Zone in Sabroom

Once the SEZ is set up, it would open the doors for foreign investment from neighbouring countries and other Northeastern states, said CM Biplab Kumar Deb

Chandan Panday

Chandan Panday

Agartala: Announcing the state’s first Special Economic Zone (SEZ) in Sabroom in south Tripura, chief minister Biplab Kumar Deb on Tuesday said that this would open the doors for foreign investment from neighbouring Bangladesh and other Northeastern states.

The Indian Railways has set up a goods dumping yard at Sabroom and the Maitre Bridge which is being built over River Feni in the Indo-Bangla border is likely to be completed by next year. The International Check Post (ICP) is also in the pipeline, added Deb.

Once the work is completed the trade between India and other South Asian countries via Chittagong port in Bangladesh, which is just 60 km from Feni river bridge, would begin. The SEZ would benefit the state of Tripura and the whole of the Northeast.

The CM also said that Bangladesh Prime Minister Sheikh Hasina is likely to visit New Delhi in October and meet with her to discuss about investment from both the countries. “The state has the potential of making a good economy with the help of the tourism sector. We need promotion and attract tourists from across the country and world through media support.”

Deb added that for setting up industry, reduction in corporate tax is needed by the investors. He also stressed on various matters including tourism, micro, small and medium (MSME) industries and the bamboo industry.

The state government has now created a comfortable environment for investments in industrial development, tourism, agriculture, fisheries, tea and rubber sectors. The banks will also sanction loans for the investors to set up the industries here in the state, Deb said.

Since we came into power the CD ratio has also increased from 39 to 56% and it will soon match the national level 78%, Deb added.

He also praised the Centre for announcing the reduction in corporate taxes easing the investment across the country. Corporate tax was highest in the country when Narendra Modi became Prime Minister in 2014 and now the country recorded the lowest corporate tax, he remarked.

“This move of the Modi-led government will open the doors for investments from the US and China-based companies in the Indian corporate sector,” Deb added.

Deb also said unemployment in Tripura has come down since his government assumed office in March last year. Data show that unemployment fell from around 8 lakh to 2.56 lakh in Tripura.