Reported by Mrinal Banik
Agartala: Tripura is aiming to attract private investment on a scale comparable to its annual state budget, banking on a series of business reforms and deregulation measures that have already begun yielding results, a senior official said on Thursday.
Industries and Commerce Secretary Kiran Gitte said the state has emerged as a leading performer in implementing business reform initiatives prescribed by the Centre.
“Tripura has secured the top position in business reforms and deregulation for two consecutive years. We have completed all the identified reforms within the prescribed timeline,” Gitte told reporters.
He said the Centre had identified 23 reform sectors last year and later expanded the list to 28 sectors this year, all of which Tripura completed ahead of schedule.
According to him, the reforms have significantly improved the investment climate by reducing procedural hurdles and simplifying approval mechanisms for businesses.
A single-window online clearance system was introduced to streamline permissions and licensing, while several regulatory relaxations were extended to sectors such as education, healthcare, hospitality, and labour.
“We have attempted to eliminate procedural bottlenecks that discouraged investors. Rules for educational institutions were eased, and self-certification and third-party certification were allowed for smaller constructions up to the G+3 level,” Gitte said.
The secretary said investment summits and roadshows organised by the state government across the country have generated investment proposals worth nearly Rs 35,000 crore.
“Projects worth around Rs 5,352 crore have already been grounded, meaning land allotment has been completed and implementation work has started,” he said, adding that many of the projects have already achieved around 30 per cent physical progress.
Highlighting the significance of the inflow, Gitte said Tripura’s annual budget currently stands at around Rs 34,000 crore.
“If the present momentum continues, attracting private investment equivalent to the size of the state budget could become achievable,” he said.
Another round of investment summits is likely to be held in July, with the government targeting fresh investment proposals worth Rs 30,000 crore to Rs 40,000 crore.
The official also pointed to recent amendments in industrial land leasing rules introduced by the Tripura Industrial Development Corporation, allowing industrial lessees to transfer or sub-lease land.
“This has made industrial assets more flexible and commercially viable,” he said.
Citing an example, Gitte said land previously held by the Dharampal Satyapal Group was later transferred to the Jindal Group, which invested around Rs 400 crore in the state over the past two years.
“The unit is now supplying GCI sheets across the Northeast from Tripura,” he added.
He further said approval had been granted for setting up a 50-seat medical college at Kulai. Besides, 19 pharmacy and nursing colleges and proposals for five new universities are also in the pipeline, he added.