&w=3840&q=100)
Tripura CM Manik Saha announces $85.4 mn ADB-funded industrial push
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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
an hour ago
- Economic Times
Dalmia Bharat's profit surges nearly 3 times on improved pricing
Dalmia Bharat's consolidated net profit surged nearly three times on year in the June quarter to Rs 345 crore, helped by an improvement in net sales realisations, which offset the impact of lower sales volumes. ADVERTISEMENT The cement producer's sales volume fell nearly 6% on year to 7 million tonnes in the June quarter, which limited a growth in its consolidated revenue to 0.4% on year to Rs 3,636 crore. The topline grew despite a fall in sales volume as realisations improved by 6.6% on year to Rs 5,193 per tonne during the quarter. This also boosted the company's earnings before interest, tax, depreciation and amortization to an all-time high of Rs 883 crore, while the EBITDA made on each tonne of cement surged 40% on year to Rs 1,261. The profitability was also boosted by lower costs of logistics and power and fuel costs, as compared to the previous year. 'Beginning of this year marks a recovery in cement realizations in our key markets, which has helped us deliver robust EBITDA growth, resulting in an EBITDA margin of 24.3%, which is an increase of 5.8% percentage points compared to last year,' Puneet Dalmia, managing director of the company was quoted in a release. The company currently has a capacity of 49.5 million tonne and is targeting a capacity of 75 million tonne by FY28. Earlier this year, the company announced fresh capital investments of Rs 6,800 crore for adding 12 million tonne of capacity across its South and West regions. ADVERTISEMENT 'Backed by a robust balance sheet, a disciplined capital allocation framework and healthy profitability outlook, we are steadily progressing towards our vision of becoming a PAN-India player,' chief financial officer Dharmender Tuteja company announced its earnings after market hours, and its shares closed at Rs 2,319.15 rupees on the BSE, up 2.5% from the previous close. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
an hour ago
- Time of India
Land pooling promises false: Warring
Chandigarh: Punjab Congress president Amrinder Singh Raja Warring accused the Aam Aadmi Party govt of trying to cheat the farmers by promising compensation "which it is not in a position to pay". "It is like a post-dated cheque on a crashing bank," he remarked. Responding to the govt decision offering acre-based compensation to farmers until the area is developed, Warring observed that this is a diversionary tactic to befool farmers by the AAP govt. "Farmers will not bite the bait," he asserted, while pointing out, "when the govt doesn't have enough money to run its own day-to-day affairs, pay the salaries, or pay the promised Rs 1,000 to every woman, where will it get the money from to pay the farmers?" "This is a ploy to defraud the farmers and make them walk into the trap," he warned. Reiterating his appeal to the govt to withdraw the policy, Warring said: "What is the point when there is no need for land pooling." tnn
Time of India
an hour ago
- Time of India
Hate speech case: HC to hear Abbas Ansari's revision plea on July 30
Prayagraj: The Allahabad High Court on Tuesday adjourned till July 30 the hearing of the revision petition filed by ex-MLA Abbas Ansari challenging the conviction in 2022 hate speech case. Abbas, son of late gangster-turned-politician Mukhtar Ansari, was MLA from Mau Assembly constituency from Suheldev Bhartiya Samaj Party (SBSP). Justice Sameer Jain deferred the hearing after additional advocate general MC Chaturvedi, appearing for the state, sought additional time to prepare the case. The courts in its one-page order observed: "At the very outset, the additional advocate general (AAG) submitted that for proper assistance, some time may be given to him to prepare the case properly." Abbas was convicted by the MP-MLA court of Mau on May 31 under sections 153-A (promoting enmity between groups) and 189 (threatening a public servant) of the Indian Penal Code. The conviction pertains to a controversial speech delivered during the 2022 assembly election campaign in Mau when Abbas targeted a govt officer and his speech video went viral on social media, leading to the lodging of the case. He was sentenced to two years' imprisonment and fined Rs 2,000. His election agent, Mansoor Ansari, who was present on the stage during the rally, was also convicted and sentenced to six months in jail. Subsequently after conviction, he was disqualified as a member of the Uttar Pradesh Legislative Assembly. The seat has now been declared vacant.
