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Tripura gets in-principle nod from Centre to set up its first SEZ at Sabroom

Biplab Deb had said that the first-ever SEZ in Tripura was being set up at Sabroom to attract Bangladeshi investors.

Tripura gets in-principle nod from Centre to set up its first SEZ at Sabroom An official from the Chief Minister’s Office (CMO) informed indianexpress.com that the issue was taken to the central government by Chief Minister Biplab Deb. (Express Photo by Prem Nath Pandey/File)

Two weeks after Tripura Chief Minister Biplab Kumar Deb announced the setting up of state’s first-ever Special Economic Zone (SEZ) at Sabroom, it got approved by the Central government on Friday. Sabroom in South Tripura is 130 km away from Agartala.

“A proposal for setting up of the Agro-Based (Broad Banded) Special Economic Zone (SEZ) at Paschim Jalefa, Sabroom was submitted to the Development Commissioner, Falta SEZ in June, 2019. The Department of Commerce (SEZ), Ministry of Commerce and Industry, Government of India gives in-principle approval for setting up of SEZ at Sabroom, South Tripura”, the notification issued by Directorate of Industries and Commerce said.

An official from the Chief Minister’s Office (CMO) informed indianexpress.com that the issue was taken to the central government by the chief minister. Earlier in September, Deb had said that the first ever SEZ of Tripura was being set up at Sabroom in South Tripura to attract Bangladeshi investors.

Setting up of a SEZ was one of BJP’s poll promises ahead of the 2018 assembly election. It takes at least 25 acres of land to set up a SEZ as per guidelines. But the land available at Sabroom is less than the required number. The land currently available with the government at Paschim Jalefa village, where the SEZ would be set up, is 16.35 hectares. Initiatives were taken for acquiring 10.99 hectares additional land adjacent to the identified plot.

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Chief Minister Deb said his government has sought relaxation on the land requirement and hopes to resolve the issue with support from NITI Ayog.

As per the notification, the Tripura Industrial Development Corporation Limited (TIDC) would develop the SEZ at an estimated project cost of Rs 147 crore. The authorities are hoping to draw an investment of Rs 1,550 crores, which would result in creation of 12,000 skilled jobs.

Rubber based industries like tyres, surgical threads, textile and apparel industries, bamboo industries, agri-based processing industries are expected to be set up at the SEZ.

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

First published on: 04-10-2019 at 07:07:03 pm
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