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Tripura to have Agro SEZ, to generate 12,000 skilled jobs

by India CSR Network
3 years ago
in More

NEW DELHI: The Ministry of Commerce and Industry has notified the setting up of the first ever Special Economic Zone – SEZ in Tripura on December 16, 2019.

The SEZ is being set-up at Paschim Jalefa, Sabroom, South Tripura District, which is 130 km away from Agartala. It will be a Sector Specific Economic Zone for Agro-Based Food Processing.

The estimated investment in the project will be around 1550 Crore. The developer of the SEZ will be Tripura Industrial Development Corporation (TIDC) Ltd. The SEZ is estimated to generate 12,000 skilled jobs.

Rubber based industries, textile and Apparel Industries, bamboo and Agri-food Processing Industries will be set-up in the SEZ.

Setting up of the SEZ in Sabroom will open up new avenues to attract private investment considering the proximity of the Chittagong Port and construction of the bridge across Feni River in South Tripura which is underway.

After it is set up, 100 percent Income Tax exemption will be provided on export income for SEZ units under Section 10AA of the Income Tax Act for the first 5 years. Also 50 percent exemption will be provided for the next 5 years and 50 percent of the ploughed back export profit for another 5 years.

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Tags: Agriculture in IndiaAgro-Based Food ProcessingSEZ in Tripura
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India CSR is the largest tech-led platform for information on CSR and sustainability in India offering diverse content across multisectoral issues. It covers Sustainable Development, Corporate Social Responsibility (CSR), Sustainability, and related issues in India. Founded in 2009, the organisation aspires to become a globally admired media that offers valuable information to its readers through responsible reporting. To enjoy the premium content, we invite you to subscribe it.

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