When it comes to attracting investments, Tripura, one of the seven sisters of North-East and also the most geographically disadvantaged state of the region, appears to be outshining its other six sisters. Be it domestic or foreign, Tripura seems to have caught the attention of investors of late.
Fairly corruption-free governance, coupled with political stability, has started fetching returns for the state. Also, insurgency is on a rapid decline in Tripura due to developmental activities of the state government.
"I can assure you that if an investor comes here he need not offer us a cup of tea, but rather we will do the honour," was what Manik Sarkar, chief minister of Tripura, had once told Business Standard.
Sarkar had said: "There is nothing special that an investor should come to Tripura. But we assure that an investor will find transparency here. We are trying to provide single window, hassle-free system here." Probably, Sarkar had meant what he said and that's the reason why investors are slowly lining up to invest in the state.
If it was the Bangladesh-based Pran Group which announced to invest around $5 million in Tripura a couple of months back, now it's an US-based company, TechMate International, that is planning to invest Rs 200 crore for setting up a "health city".
Likewise, domestic investors are presently exploring investment opportunities in the upcoming Rubber Park and other potential sectors. A Rs 250 crore (Rs 2.5 billion) state-of-the-art steel plant by Dharampal Premchand group too came up in April this year in Tripura.
Official sources informed that the representatives from the US based company had a meeting with Jitendra Choudhury, industry minister of the state, a few days back to give shape to the investment proposal. Three separate international business delegations, two from Middle-East and one from Bangladesh, too had meetings with the industry minister to explore investment opportunities, informed George Jenner, director of industries, Tripura.
Regarding the upcoming Rubber Park, Jenner said out of 28 units, 15 units had been allotted to various companies. The Rs 7 crore (Rs 70 million) Park would be commissioned in December.
"The response we have got from the investors for the Rubber Park has been very satisfactory," he said.
Initially, 15 rubber-based products, like tyres, tubes, gloves, latex foam and so on would be produced from the Park. The Park would come up at Bodhjungnagar near Agartala, the state capital.