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India Gazette
01-06-2025
- Business
- India Gazette
Tripura CM Manik Saha announces $85.4M ADB-funded industrial push
Agartala (Tripura) [India], June 1 (ANI): In a move to attract more investment to Tripura, Chief Minister Manik Saha announced that significant developments are underway to strengthen the state's industrial infrastructure through an $85.4 million loan from the Asian Development Bank (ADB), said a release. According to the release, he said that the funding is being utilised to develop power, roads, plug-and-play infrastructure, warehousing facilities, and more. CM Saha said this while addressing delegates at a Stakeholder Consultation under the initiative of the High-Level Task Force on Investment Promotion in the North Eastern Region. 'With the mandate of formulating a strategic roadmap to position the Northeast as a preferred investment destination, we are organising this Stakeholder Consultation in collaboration with the Ministry of DoNER. I warmly welcome all participants to today's consultation. I believe that the insights and suggestions of all stakeholders will greatly aid us in shaping our strategy report,' he said. CM Saha shared that the High-Level Task Force has already held two meetings, during which the esteemed members provided valuable suggestions and feedback. 'We have agreed upon a six-month action plan to formulate a comprehensive roadmap for investment promotion in the region. Work has already begun to devise both long-term and short-term strategies to attract investment across various promising sectors. With investment promotion agencies now active in almost all states, policy decisions related to investments are expected to be more efficient and streamlined,' Dr. Saha stated. Referring to the recent Rising Northeast Investor Summit 2025 held on May 23 and 24, Dr. Saha said the summit resulted in significant investment commitments. 'For Tripura alone, 64 Memorandums of Understanding (MoUs) worth Rs 15,823 crore were signed during the summit. Prior to this, with joint efforts alongside the Ministry of DoNER, Tripura had signed 184 MoUs with an investment potential exceeding Rs 15,000 crore through roadshows, investment summits, and business conclaves. To date, over 25% of those MoUs have been grounded. I am confident that such consistent collaborative efforts will yield positive outcomes in the near future. The Northeast has several state-specific niche sectors that can be leveraged for economic development. Each state has unique resources and comparative advantages that can be capitalised upon,' he added. CM Saha emphasised that Tripura is fully committed to contributing proactively to the formulation of progressive, inclusive, and outcome-oriented roadmaps to achieve the vision of Atmanirbhar Bharat and Viksit Bharat. 'We have successfully implemented all 387 business reforms mandated under the Business Reforms Action Plan 2024. I would also like to inform you that we are one of the first states to pass the Tripura Jan Vishwas Ordinance 2025, which decriminalizes provisions in various state acts and rules and repeals obsolete laws. Under the guidance of the Task Force on Deregulation set up by the Cabinet Secretariat, we are working to reduce compliance burdens in state laws, as well as in regulations of local bodies, industrial corporations, and utility providers,' he said. The Chief Minister also announced amendments to the Tripura Industrial Investment Promotion Incentives Scheme 2022, introducing additional customised incentives for mega projects. 'Significant developments are underway to boost the state's industrial infrastructure through the $85.4 million ADB loan. The Tripura Industrial Development Corporation (TIDC) is executing a robust expansion plan, including the development of over 1,500 acres of new industrial zones, the creation of sector-specific industrial parks, and the development of land parcels along key transport corridors to meet investor demands,' Dr. Saha stated. Industries and Commerce Minister Santana Chakma, TIDC Chairman Nabadal Banik, Industries and Commerce Secretary Kiran Gitte, Director Dr. Shailesh Kumar Yadav, secretaries from other northeastern states, directors, and other senior officials were also present at the event. (ANI)
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Business Standard
01-06-2025
- Business
- Business Standard
Tripura CM Manik Saha announces $85.4 mn ADB-funded industrial push
The CM said that the funding is being utilised to develop power, roads, plug-and-play infrastructure, warehousing facilities, and more ANI In a move to attract more investment to Tripura, Chief Minister Manik Saha announced that significant developments are underway to strengthen the state's industrial infrastructure through an $85.4 million loan from the Asian Development Bank (ADB), said a release. According to the release, he said that the funding is being utilised to develop power, roads, plug-and-play infrastructure, warehousing facilities, and more. CM Saha said this while addressing delegates at a Stakeholder Consultation under the initiative of the High-Level Task Force on Investment Promotion in the North Eastern Region. "With the mandate of formulating a strategic roadmap to position the Northeast as a preferred investment destination, we are organising this Stakeholder Consultation in collaboration with the Ministry of DoNER. I warmly welcome all participants to today's consultation. I believe that the insights and suggestions of all stakeholders will greatly aid us in shaping our strategy report," he said. CM Saha shared that the High-Level Task Force has already held two meetings, during which the esteemed members provided valuable suggestions and feedback. "We have agreed upon a six-month action plan to formulate a comprehensive roadmap for investment promotion in the region. Work has already begun to devise both long-term and short-term strategies to attract investment across various promising sectors. With investment promotion agencies now active in almost all states, policy decisions related to investments are expected to be more efficient and streamlined," Dr. Saha stated. Referring to the recent Rising Northeast Investor Summit 2025 held on May 23 and 24, Dr. Saha said the summit resulted in significant investment commitments. "For Tripura alone, 64 Memorandums of Understanding (MoUs) worth Rs 15,823 crore were signed during the summit. Prior to this, with joint efforts alongside the Ministry of DoNER, Tripura had signed 184 MoUs with an investment potential exceeding Rs 15,000 crore through roadshows, investment summits, and business conclaves. To date, over 25% of those MoUs have been grounded. I am confident that such consistent collaborative efforts will yield positive outcomes in the near future. The Northeast has several state-specific niche sectors that can be leveraged for economic development. Each state has unique resources and comparative advantages that can be capitalised upon," he added. CM Saha emphasised that Tripura is fully committed to contributing proactively to the formulation of progressive, inclusive, and outcome-oriented roadmaps to achieve the vision of Atmanirbhar Bharat and Viksit Bharat. "We have successfully implemented all 387 business reforms mandated under the Business Reforms Action Plan 2024. I would also like to inform you that we are one of the first states to pass the Tripura Jan Vishwas Ordinance 2025, which decriminalizes provisions in various state acts and rules and repeals obsolete laws. Under the guidance of the Task Force on Deregulation set up by the Cabinet Secretariat, we are working to reduce compliance burdens in state laws, as well as in regulations of local bodies, industrial corporations, and utility providers," he said. The Chief Minister also announced amendments to the Tripura Industrial Investment Promotion Incentives Scheme 2022, introducing additional customised incentives for mega projects. "Significant developments are underway to boost the state's industrial infrastructure through the $85.4 million ADB loan. The Tripura Industrial Development Corporation (TIDC) is executing a robust expansion plan, including the development of over 1,500 acres of new industrial zones, the creation of sector-specific industrial parks, and the development of land parcels along key transport corridors to meet investor demands," Dr. Saha stated. Industries and Commerce Minister Santana Chakma, TIDC Chairman Nabadal Banik, Industries and Commerce Secretary Kiran Gitte, Director Dr. Shailesh Kumar Yadav, secretaries from other northeastern states, directors, and other senior officials were also present at the event.
India Gazette
14-05-2025
- Business
- India Gazette
Union Minister Jyotiraditya Scindia chairs curtain raiser event for Rising North East Investor Summit
New Delhi [India], May 14 (ANI): Union Minister of Communications and Minister for Development of North Eastern Region Jyotiraditya Scindia chaired a press meet for the Rising North East Investor Summit on Wednesday, the Ministry of Development of North-East Region said in a press release. Minister of State, Ministry of DoNER - Sukanta Majumdar, Secretary, Ministry of DoNER - Chanchal Kumar, ADG, PIB - Manisha Verma, Statistical Advisor, Ministry of DoNER - Dharmvir Jha, and other senior officials of the Ministry were present at the event. In his address to the media, Union Minister Jyotiraditya Scindia welcomed everyone to the curtain raiser for the North Eastern Investors Summit 2025 and said that the greatest potential for India in the future is our wonderful North Eastern regions. Jyotiraditya Scindia said, 'The event will showcase our wonderful Ashta Lakshmi - our eight states, which stand at the heart of the transformative growth that our country represents.' 'The Prime Minister's resolve, his commitment, his vision, to ensure that the Northeastern region becomes the pivot for the future growth and the future path of India as she advances towards her goal of Vikisit Bharat by 2047,' said the Union Minister. The Minister said whether it is the 10 percent of gross budgetary support (GBS) amounting to almost one lakh crore a year that's been ploughed into the Northeast, whether it's tax devolution, or different arms and the private sector and others taking that leap forward, today the Northeast, which was always considered the periphery of India prior to a decade ago, has become the center of India's growth story. 'North East's cultural tapestry along with the reservoir of natural resources and the strategic geographical positioning of the Northeast, translated the region into the most powerful gateway in the world to Southeast Asia,' he added. The Minister said, 'The last 10 years of committed investment, the last 10 years of the Prime Minister's resolve on infrastructure, on health care, on education, on submarine cable, today has set the platform for that rise of the Northeast into the economic power that it portends to be, not only for India, but for the world.' He added that the North East is not waiting for the future but it is building it. 'I invite all of you to join in witnessing the dawn of this new era for this magnificent region, an era that promises prosperity, not only for the Northeast, but the rest of India, and the rest of Southeast Asia,' said the Union Minister. Scindia informed that Prime Minister Narendra Modi has consented to grace the occasion. The Rising North East investment summit will witness participation from different Ministries of the Government of India, MPs, diplomats, and Chief Ministers of North Eastern States, among others Chanchal Kumar, Secretary MDoNER, presented key investment opportunities spanning all eight Northeastern states during the event. A presentation by Chanchal Kumar highlighted various investor roadshows organised by MDoNER in different Indian cities, including Mumbai, Bengaluru, Ahmedabad, Chennai, Hyderabad, Kolkata, Guwahati, and New Delhi, to promote investment in the NER. MDoNER Secretary informed that the pre-summit activities organised by MDoNER have attracted investment proposals worth more than Rs. 1 lakh crore across all the Northeastern states. In the run-up to the summit, an Ambassadors' Meet was organised in coordination with the Ministry of External Affairs on April 15, 2025 at Sushma Swaraj Bhawan, to give exposure to foreign investors to the region. The event saw unprecedented participation at the level of Ambassadors and High Commissioners of more than 75 countries, showcasing the enormous interest of the missions to explore the region. The purpose is to give a boost to the investment system of north east. Many industry houses, investors have already committed large amount of investment interest. More than one lakh crore MOUs and Letter on Intent have been signed. The Rising North East Investor Summit is the culmination of various pre-summit activities, such as investment roadshows, ambassador meets, bilateral chamber meets, etc., to promote investment in the North East region. The focus sectors of the summit include Tourism and Hospitality, Agro-Food Processing and allied sectors; Textiles, Handloom and Handicrafts, Healthcare; Education and Skill Development; IT/ITeS; Infrastructure and Logistics; Energy; and Entertainment & Sports. MDoNER has been undertaking several initiatives to present NER as a land of opportunity, attracting global and domestic investment and bringing together key stakeholders, investors, and policymakers on a single platform. A business-friendly ecosystem, bolstered by government-driven infrastructure upgrades and targeted skill development initiatives, has ignited a fervent race among industrial titans to tap into the region's vast potential. Looking ahead to Vision 2047, the Government aims to position the North East as India's most prosperous region -- a global hub for startups, a leading exporter of exotic horticultural products, and the crown jewel of Indian tourism. (ANI)
