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India Gazette
5 days ago
- Business
- India Gazette
Tripura CM Manik Saha announces $85.4M ADB-funded industrial push
Agartala (Tripura) [India], June 1 (ANI): In a move to attract more investment to Tripura, Chief Minister Manik Saha announced that significant developments are underway to strengthen the state's industrial infrastructure through an $85.4 million loan from the Asian Development Bank (ADB), said a release. According to the release, he said that the funding is being utilised to develop power, roads, plug-and-play infrastructure, warehousing facilities, and more. CM Saha said this while addressing delegates at a Stakeholder Consultation under the initiative of the High-Level Task Force on Investment Promotion in the North Eastern Region. 'With the mandate of formulating a strategic roadmap to position the Northeast as a preferred investment destination, we are organising this Stakeholder Consultation in collaboration with the Ministry of DoNER. I warmly welcome all participants to today's consultation. I believe that the insights and suggestions of all stakeholders will greatly aid us in shaping our strategy report,' he said. CM Saha shared that the High-Level Task Force has already held two meetings, during which the esteemed members provided valuable suggestions and feedback. 'We have agreed upon a six-month action plan to formulate a comprehensive roadmap for investment promotion in the region. Work has already begun to devise both long-term and short-term strategies to attract investment across various promising sectors. With investment promotion agencies now active in almost all states, policy decisions related to investments are expected to be more efficient and streamlined,' Dr. Saha stated. Referring to the recent Rising Northeast Investor Summit 2025 held on May 23 and 24, Dr. Saha said the summit resulted in significant investment commitments. 'For Tripura alone, 64 Memorandums of Understanding (MoUs) worth Rs 15,823 crore were signed during the summit. Prior to this, with joint efforts alongside the Ministry of DoNER, Tripura had signed 184 MoUs with an investment potential exceeding Rs 15,000 crore through roadshows, investment summits, and business conclaves. To date, over 25% of those MoUs have been grounded. I am confident that such consistent collaborative efforts will yield positive outcomes in the near future. The Northeast has several state-specific niche sectors that can be leveraged for economic development. Each state has unique resources and comparative advantages that can be capitalised upon,' he added. CM Saha emphasised that Tripura is fully committed to contributing proactively to the formulation of progressive, inclusive, and outcome-oriented roadmaps to achieve the vision of Atmanirbhar Bharat and Viksit Bharat. 'We have successfully implemented all 387 business reforms mandated under the Business Reforms Action Plan 2024. I would also like to inform you that we are one of the first states to pass the Tripura Jan Vishwas Ordinance 2025, which decriminalizes provisions in various state acts and rules and repeals obsolete laws. Under the guidance of the Task Force on Deregulation set up by the Cabinet Secretariat, we are working to reduce compliance burdens in state laws, as well as in regulations of local bodies, industrial corporations, and utility providers,' he said. The Chief Minister also announced amendments to the Tripura Industrial Investment Promotion Incentives Scheme 2022, introducing additional customised incentives for mega projects. 'Significant developments are underway to boost the state's industrial infrastructure through the $85.4 million ADB loan. The Tripura Industrial Development Corporation (TIDC) is executing a robust expansion plan, including the development of over 1,500 acres of new industrial zones, the creation of sector-specific industrial parks, and the development of land parcels along key transport corridors to meet investor demands,' Dr. Saha stated. Industries and Commerce Minister Santana Chakma, TIDC Chairman Nabadal Banik, Industries and Commerce Secretary Kiran Gitte, Director Dr. Shailesh Kumar Yadav, secretaries from other northeastern states, directors, and other senior officials were also present at the event. (ANI)
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Business Standard
5 days ago
- Business
- Business Standard
Tripura CM Manik Saha announces $85.4 mn ADB-funded industrial push
The CM said that the funding is being utilised to develop power, roads, plug-and-play infrastructure, warehousing facilities, and more ANI In a move to attract more investment to Tripura, Chief Minister Manik Saha announced that significant developments are underway to strengthen the state's industrial infrastructure through an $85.4 million loan from the Asian Development Bank (ADB), said a release. According to the release, he said that the funding is being utilised to develop power, roads, plug-and-play infrastructure, warehousing facilities, and more. CM Saha said this while addressing delegates at a Stakeholder Consultation under the initiative of the High-Level Task Force on Investment Promotion in the North Eastern Region. "With the mandate of formulating a strategic roadmap to position the Northeast as a preferred investment destination, we are organising this Stakeholder Consultation in collaboration with the Ministry of DoNER. I warmly welcome all participants to today's consultation. I believe that the insights and suggestions of all stakeholders will greatly aid us in shaping our strategy report," he said. CM Saha shared that the High-Level Task Force has already held two meetings, during which the esteemed members provided valuable suggestions and feedback. "We have agreed upon a six-month action plan to formulate a comprehensive roadmap for investment promotion in the region. Work has already begun to devise both long-term and short-term strategies to attract investment across various promising sectors. With investment promotion agencies now active in almost all states, policy decisions related to investments are expected to be more efficient and streamlined," Dr. Saha stated. Referring to the recent Rising Northeast Investor Summit 2025 held on May 23 and 24, Dr. Saha said the summit resulted in significant investment commitments. "For Tripura alone, 64 Memorandums of Understanding (MoUs) worth Rs 15,823 crore were signed during the summit. Prior to this, with joint efforts alongside the Ministry of DoNER, Tripura had signed 184 MoUs with an investment potential exceeding Rs 15,000 crore through roadshows, investment summits, and business conclaves. To date, over 25% of those MoUs have been grounded. I am confident that such consistent collaborative efforts will yield positive outcomes in the near future. The Northeast has several state-specific niche sectors that can be leveraged for economic development. Each state has unique resources and comparative advantages that can be capitalised upon," he added. CM Saha emphasised that Tripura is fully committed to contributing proactively to the formulation of progressive, inclusive, and outcome-oriented roadmaps to achieve the vision of Atmanirbhar Bharat and Viksit Bharat. "We have successfully implemented all 387 business reforms mandated under the Business Reforms Action Plan 2024. I would also like to inform you that we are one of the first states to pass the Tripura Jan Vishwas Ordinance 2025, which decriminalizes provisions in various state acts and rules and repeals obsolete laws. Under the guidance of the Task Force on Deregulation set up by the Cabinet Secretariat, we are working to reduce compliance burdens in state laws, as well as in regulations of local bodies, industrial corporations, and utility providers," he said. The Chief Minister also announced amendments to the Tripura Industrial Investment Promotion Incentives Scheme 2022, introducing additional customised incentives for mega projects. "Significant developments are underway to boost the state's industrial infrastructure through the $85.4 million ADB loan. The Tripura Industrial Development Corporation (TIDC) is executing a robust expansion plan, including the development of over 1,500 acres of new industrial zones, the creation of sector-specific industrial parks, and the development of land parcels along key transport corridors to meet investor demands," Dr. Saha stated. Industries and Commerce Minister Santana Chakma, TIDC Chairman Nabadal Banik, Industries and Commerce Secretary Kiran Gitte, Director Dr. Shailesh Kumar Yadav, secretaries from other northeastern states, directors, and other senior officials were also present at the event.
India Gazette
25-05-2025
- Business
- India Gazette
"Tripura eyes $23,000 per capita income by 2047": CM Dr Manik Saha
New Delhi [India], May 25 (ANI): Tripura Chief Minister Prof Dr Manik Saha on Saturday said that the present state government has prepared a Strategic Road Map to build an Unnato and Shreshtho (Developed and Great), future-ready Tripura. Saha said this while addressing the 10th NITI Aayog Governing Council Meeting in New Delhi, in the presence of Prime Minister Narendra Modi, Home Minister Amit Shah, Defence Minister Rajnath Singh, Health Minister JP Nadda, and other distinguished Union Ministers, Governors, Chief Ministers and Lt Governors of Union Territories, Vice Chairman and the Members of NITI Aayog. Dr Saha also congratulated Prime Minister Narendra Modi and the armed forces for the 'successful execution of Operation Sindoor.' He said that Operation Sindoor symbolises our strength, unity, and collective resolve to protect the country. 'The success of Operation Sindoor has conveyed a strong commitment towards national security and zero tolerance against terrorism,' Saha said. Dr Saha said that the Government of Tripura has prepared a Strategic Road Map to build an Unnato and Shreshtho (Developed and Great), future-ready Tripura. 'Elaborate exercise was carried out over the last one year through consultations with NITI Aayog, Ministry of DONER, academic institutions, expert consultants, industry and business leaders, eminent citizens, and officials,' he said. He said the state government has identified nine key enablers that will support robust growth at 12 per cent per year over the next two decades. These are a strong agricultural base, high literacy, rich tourism assets, abundant natural resources, a forest economy, improved infrastructure, strategic location, widening tax base, and the state's energy surplus status. 'The Key Enablers are supported by five Pillars of Governance. These are policy reforms, institutional building, capacity building, business reforms, reduced compliance burden, and digital governance. In Tripura, e-Office is implemented from the State Cabinet to the Gram Panchayat level. Although we have some challenges, with progressive State policies, transparent administration, and an investor-friendly environment, we are confident of overcoming these. With emphasis on medical wellness, eco-tourism, IT, knowledge economy, resilient agriculture, rich history, cultural heritage, and sports, we estimate to increase our per capita income from 2,300 dollars at present to 23,000 dollars by 2047,' Saha said. Saha said that in order to accelerate manufacturing and services in a Tier-3 city like ours, the state government is developing industrial infrastructure in 20 Industrial Estates. 'We have the Tripura Industrial Investment Policy 2024 to promote manufacturing and services, and have implemented all 387 business reforms as mandated under the Business Reforms Action Plan 2024. We have enacted the Tripura Jan Vishwas Act 2025. Under the guidance of the Task Force on Deregulation set up in the Cabinet Secretariat, we are reducing the compliance burden in State Laws, Local Bodies, Industrial Corporations, and Utility Providing Agencies. As a result, we are getting substantial investments in the Rubber, Bamboo Processing, Health, Education, Data Centres, Hospitality, Business and Commerce sectors,' said Dr. Saha. Speaking about MSMEs, Saha said that there are 86,117 Micro, Small and Medium Enterprises (MSMEs) in Tripura and the State has a strong base of 60,318 Self-Help Groups with 5,49,559 members and 94,723 Lakhpati Didis. 'We are encouraging members of Self Help Groups to become entrepreneurs. We are pushing to transform the rural non-farm employment scene by unlocking potential in sectors like bamboo, agarwood, rubber, spices, dairy, aquaculture, and eco-tourism. We seek national and international collaboration and support from NITI Aayog and the Central Government in scaling these initiatives,' he said. He also informed us that the state has initiated the development of an 800 MW pump storage project to achieve the renewable energy target. 'We aim to develop a State-specific Green Economy Policy Framework by adopting a whole-of-government and whole-of-society approach through the inclusion of youth and women and developing a robust Green Start-Up Ecosystem,' Saha said. He informed that the state government is substantially investing in the development of human resources. 'The government has established incubator centres in universities and colleges, both general and technical, to provide opportunities for youth to transform their ideas into startups and enterprises. We are focusing on creating more 'job creators' than 'job seekers.' We are providing avenues and opportunities to youth in the spheres of Tourism, Sports, Culture, Filmmaking, etc. The State's GDP growth of over 15 per cent during the last three years has indicated that this journey has commenced on an encouraging note,' he added. (ANI)
The Print
24-05-2025
- Business
- The Print
State has prepared strategic roadmap for growth: Tripura CM
This included consultations with NITI Aayog, the Ministry of DONER, academic institutions, expert consultants, industry and business leaders, eminent citizens, and government officials, he added. Speaking at the 10th NITI Aayog Governing Council meeting in Delhi, the Chief Minister said an elaborate planning exercise was carried out over the past year. Agartala, May 24 (PTI) Chief Minister Manik Saha on Saturday said the state has prepared a strategic roadmap to build a future-ready Tripura. 'We have identified nine key enablers which will support robust 12 per cent growth per year over the next two decades. Tripura has a strong agriculture base, high literacy, rich tourism assets, abundant natural resources, a forest-based economy, improved infrastructure, a strategic location, a widening tax base, and is an energy-surplus state,' he said. Saha said the state aims to increase its per capita income from the current USD 2,300 to USD 23,000 by 2047 by focusing on sectors such as medical wellness, eco-tourism, IT, knowledge economy, resilient agriculture, rich history, cultural heritage and sports. The CM said the state government has been developing 20 industrial estates. 'We have the Tripura Industrial Investment Policy 2024 to promote manufacturing and services. We have implemented all the 387 business reforms as mandated under Business Reforms Action Plan 2024', he added. He added that Tripura is receiving substantial investments in various sectors including rubber, bamboo processing, healthcare, education, data centers, hospitality, business, and commerce. Highlighting the growth in the MSME segment, Saha said the number of Micro, Small, and Medium Enterprises (MSMEs) in the state has reached 86,117. 'The state has a strong base of 60,318 Self-Help Groups with 5,49,559 members and 94,723 Lakhpati Didis,' he said. Saha said the northeastern state is committed to a robust strategy for harnessing potential of renewable energy with a target of achieving 90 per cent renewable energy by 2047. 'Our approach emphasises promotion of solar energy projects through streamlined land allotment processes, viability gap funding, and increased rooftop solar adoption across residential, government and commercial sectors', he added. PTI PS MNB This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
