Tripura to hold mega business conclave in July, aims to attract Rs 40,000 cr investment proposals

Agartala: Buoyed by investors' feedback, the Tripura government plans to organise a mega business conclave in July to attract more investment to the northeastern state, an official said on Thursday.

The northeastern state has signed 394 Memoranda of Understanding (MoUs) valued at Rs 35,140 crore, and investment proposals worth Rs 5,352 crore have been grounded since 2022.

Follow The PSUWatch Channel on WhatsApp

"Tripura has achieved a milestone by becoming the first in the country to complete all priority areas under deregulation phase II of the national compliance reduction and deregulation initiated by the Centre," Kiran Gitte, Secretary of Industries & Commerce, said at a press conference.

The deregulation phase II of the national compliance reduction and deregulation refers to reforming various permissions required to set up an industrial unit or service sector venture.

"We have already put infrastructure -- railway, national highway and airway -- in place, which is required for pushing investment or industries. An investment-friendly atmosphere has been created in the state, leading to a growing trend in investment," Gitte said.

"The government is planning to organise a mega business conclave in July to attract more investment to the state. Based on the feedback we are receiving from industrial players, the proposed conclave may fetch around Rs 40,000 crore investment proposals," he said.

Gitte said the Industries & Commerce department has been organising road shows in key cities across the country, highlighting the state's potential to attract prospective business leaders.

"The government is investing Rs 10,000 crore for physical infrastructure, and if we manage to bring in Rs 10,000 crore through private investment, it will increase the state's GDP from 12 percent to 16 percent," he said.

The officer said that steps have already been taken to attract IT giants by taking advantage of the investment-friendly atmosphere in the northeastern state.

Follow PSU Watch on LinkedIN

On the operationalisation of 'Maitri Setu' (Friendship Bridge) connecting Tripura's Sabroom with Ramgarh in Bangladesh, he said the government has already written a letter to the Centre to make it operational, and it will be opened shortly.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)