Tripura eyes fresh investment push with mega business conclave in July

Tripura is preparing to host a mega business conclave in July as the state government looks to build on what it describes as growing investor interest and a steady rise in industrial proposals.

Officials said the state has signed 394 Memoranda of Understanding (MoUs) worth Rs 35,140 crore since 2022, while projects valued at Rs 5,352 crore have already been grounded. The proposed conclave is expected to bring together industrial players, investors and business leaders from across the country.

Speaking at a press conference on Thursday, Industries and Commerce Secretary Kiran Gitte said Tripura had become “the first in the country to complete all priority areas under deregulation phase II” of the Centre’s national compliance reduction and deregulation initiative. The reforms are aimed at simplifying approvals and reducing procedural hurdles for industries and service-sector ventures.

The state government believes recent policy changes and infrastructure upgrades have strengthened Tripura’s position as an emerging investment destination in the Northeast.

“We have already put infrastructure — railway, national highway and airway — in place, which is required for pushing investment or industries,” Gitte said. He added that an “investment-friendly atmosphere” had contributed to a rise in business interest.

According to officials, the Industries and Commerce Department has been conducting roadshows in major cities to showcase Tripura’s industrial potential and attract companies looking to expand operations in the region.

Based on feedback received from industrial stakeholders, the government expects the upcoming conclave to generate investment proposals worth nearly Rs 40,000 crore.

“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 per cent to 16 per cent,” Gitte said.

The state is also attempting to attract information technology companies by promoting Tripura as a business-friendly destination with improved connectivity and regulatory reforms.

On the long-pending operationalisation of the Maitri Setu bridge linking Sabroom in Tripura with Ramgarh in Bangladesh, Gitte said the state had already written to the Centre seeking its early opening. He said the bridge would become operational shortly, a move expected to improve trade and regional connectivity.