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KNOW INDIA
Tripura
Bamboo
Horticulture
Investment Incentives
Major Industries
Policy Framework

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INDIAN STATE : TRIPURA

Investment Incentives

The state of Tripura has launched the "Tripura incentive scheme, 2002" (valid till March 2007) under which the following incentives and concessions have been provided:-

Capital Investment Subsidy

  • All eligible units will be entitled to a 30 percent subsidy on fixed capital investment, subject to a ceiling of US$ 65,105.01 in each case.
  • Additional subsidy at the rate of 5 percent will be provided on fixed capital investment to the industries in the identified thrust sectors.
  • Export oriented units will be entitled to an additional 5 percent subsidy on fixed capital investment.

Price Preference

  • Subject to the unit meeting the quality, delivery and other specifications of the purchaser state government Agencies, up to 10% price preference will be given on all purchases by state government agencies (including departments / corporations / undertakings / autonomous bodies of the state government) on products manufactured in Tripura, by eligible units, for which they are registered and the same shall be governed by the notifications/ orders issued by the government from time to time. This shall further be subject to certain prerequisites.

Exemption from Earnest Money and Security Deposits

  • All eligible units will be exempted from the payment of earnest money and security deposits for items for which they are registered, on tender by the state government agencies (including departments/ corporations/ undertakings/ autonomous bodies of the state government).

Reimbursement of the Tripura Sales Tax

  • Subject to the Notification to be published by the state government in the Finance department, in exercise of powers conferred under relevant sections of the Tripura sales tax act, 1976, reimbursement of state sales tax, shall be given to the industrial units, subject to the certain specified conditions.

Partial Reimbursement of Interest Paid

  • All eligible units will be entitled to a reimbursement of interest paid to the banks/ financial institutions, at the rate of 4% on the term loans availed by them, for 5 years from the date of setting up, provided that the units have no interest liabilities overdue to the banks/ financial institutions and subject to a ceiling of US$ 650.256 per year per unit.

Reimbursement of Standard Certification Fees/Charges

  • All eligible units will be entitled to full reimbursement of fees/ charges on account of obtaining a standard certification, subject to the condition that any other reimbursement against these from central government or any other source shall be deducted and further that the re-imbursement shall be subject to a ceiling of US$ 1083. 75 per unit.

Special Incentives for IT Industry

  • The Government of Tripura will give the same status to the sector of IT-enabled services as is given to the sector of software development.
  • IT software industry will be exempted from locational regulations.
  • The IT software industry will be exempt from the provisions of certain acts/ regulations, like Pollution Control Act, Factories Act and Contract Labour (Regulation) Act to facilitate easy setting up of software units.
  • Department of Industries & Commerce shall create a separate area for setting up the units for major IT companies. This area shall be designated as an IT park. The state govt. would provide basic infrastructural facilities at the designated IT park, including uninterrupted power supply. In case the unit wants to set up its own captive power generation, no permission would be required from any agency for DG sets up to 50 KVA. The land may be allotted in these areas at concessional rates for IT units, subject to their giving employment to a minimum of 20 persons from the State.
  • The state government will also set up a software technology park in Agartala with the help of STPI, a registered society under Department of Electronics (Ministry of Information Technology, Govt of India). In this park, provisions will be made for single - window clearance for software development units to be set up, as per the existing schemes of Government of India. The state government will administer the software technology park through a designated agency / corporation.

Other Major Projects in Tripura

(i) New railway line from Kumarghat to Agartala totaling 109 Kms being constructed at a cost of Rs.880 crores has been declared as "National Project" and is targeted for completion in the year 2007. This will connect state capital of Tripura with the railway network and will facilitate transportation to Agartala. Railway line from Kumarghat to Manu (21 Kms) has already been completed and lines from Manu to Agartala (89 Kms) is targeted for completion during 2007.
(ii) Under the economic importance for development of state roads/major district roads and other roads Rs.7.53 crores have been provided
(iii) Projects worth Rs.247.41 crore have been approved under Non-Lapsable Central Pool Of Resources (NLCPR), which include amongst others (a) 21 MW Gas thermal project at Rokia (Unit VIII); (b) Sub transmission and distribution (3 projects);(c) construction of north and south district hospitals along with some components of 150 bedded Dhalai district hospital;(d) Government Medical College and Hospital Project; (e) State level para medical institute at Agartala in Tripura, etc.
(iv) Under Accelerated Power Development and Reform Programme (APDRP)
projects estimated to cost Rs. 119.20 crores have been sanctioned.
(v) Conversion of Tripura University, Agartala into Central University has been
approved at an estimated cost of Rs.38.27 crore (nonrecurring) and Rs.9.82 per
annum.


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