Tripura CM launches first fund administration operation centre, says more investors will come to state

The initiative in collaboration with a private enterprise, Basiz Fund Service, is a step towards “preventing further brain drain from Tripura”.

Tripura Chief Minister Dr. Manik Saha speaks at the inaugural session of the operation centre at Agartala. (Express photo by Debraj Deb)

Tripura Chief Minister Dr Manik Saha Monday inaugurated the state’s first fund administration operation centre in collaboration with a private enterprise Basiz Fund Service. The state government last year signed a Memorandum of Understanding (MoU) with Basiz Fund Service for developing IT infrastructure. The CM said his government expects that more investors would come to the state soon.

Addressing the inaugural session at IT Bhawan in Indranagar Monday afternoon, CM Saha said children from Tripura has to go outside the state for training and jobs as the state lacked such opportunity here.

“Our government decided not to allow further brain drain from our state. All those states where they would go are in India itself. Why they would have to go there, spend money to rent houses and buy food? This centre would give opportunities to our children,” Saha said.

Citing the agreements signed with eight companies during a summit of Destination Tripura last December, CM Saha said Basiz Foundation was one of the signatories.

However, he set lofty targets for the company and said, “A tree is known by its fruit. Let’s see what you can give our children, only then can we appreciate your efforts.”

The CM said government officers from the state went to Mumbai to join a summit and invited investors to come to Tripura.

“In other sectors too more investors will come. Tripura will progress in the right direction. We want development,” Saha said.

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Basiz Foundation managing director Adityapuram Seshadrinatha said Tripura has opportunities for work in fund administration and said work has already started here.

“Our work is in financial reporting of funds. We are India’s only global fund administrator. Other opportunities we look at involve US tax work, Indian tax work, product development of IT, ancillary opportunities that exist within the accounting legal investment and information and technology space. We shall keep a secular pace in getting employment in Tripura,” the MD said.

On trained candidates available in Tripura, the company chief said they set up an Agrahi Tripura team to train sufficient candidates here and induct them in jobs.

However, he did not mention any timeframe for implementing the training and recruitment plan and said work would be implemented soon.