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Best Business Opportunities in Tripura- Identification and Selection of right Project, Thrust areas for Investment, Industry Startup and Entrepreneurship Projects

Tripura is a state in Northeast India. The third-smallest state in the country, it covers 10,491 km2 (4,051 sq mi) and is bordered by Bangladesh (East Bengal) to the north, south, and west, and the Indian states of Assam and Mizoram to the east. Tripura is a landlocked state in North East India. The state has a tropical savanna climate, designated Aw under the Köppen climate classification. The undulating topography leads to local variations, particularly in the hill ranges. The four main seasons are winter, from December to February; pre-monsoon or summer, from March to April; monsoon, from May to September; and post-monsoon, from October to November.

Tripura's gross state domestic product for 2010–11 was 129.47 billion (US$2.1 billion) at constant price (2004–05), recording 5.71 per cent growth over the previous year. In the same period, the GDP of India was 48778.42 billion (US$790 billion), with a growth rate of 8.55 per cent. Tripura is an agrarian state with more than half of the population dependent on agriculture and allied activities. However, due to hilly terrain and forest cover, only 27 per cent of the land is available for cultivation. Rice, the major crop of the state, is cultivated in 91 per cent of the cropped area.

TOURISM

Tripura has a geographical area of about 10,492 sq. km. almost two-thirds of the state is under hilly terrain and it is surrounded on three sides by the deltaic basin of Bangladesh. The Tripura tribal’s are divided into two groups: Puran Tripuras and Natun Tripuras. The Puran Tripuras are the original inhabitants of the State and constitute a little over 16% of the total and 57% of the tribal population of the State. The Department of Tourism, Govt. of India, under the ministry of Tourism and Culture has been providing liberal financial and technical support for the tourism development in the state based on the projects received from the states. It is quite clear that Tripura has tremendous and quite unique tourism potential. This could be tapped mainly through the concept of Eco-tourism and Heritage tourism. Nature / wildlife tourism, adventure tourism, rural tourism, leisure tourism, pilgrimage tourism, international border tourism could be some special tourist packages. The Tourism Development in the Northeast region will depend on integrated approach, involving various government departments, private entrepreneurs, voluntary organizations and local community. This approach will also help in evolving local people’s perception towards tourism development as a strong tool for socio-economic up liftment.

INDUSTRIAL SECTOR

The State Government offers a package of incentives for setting up of industrial units, which is comparable to other states. Besides, the special incentive package i.e. North East Industrial and Investment Promotion Policy (NEIIP) declared by the Government of India for the North East Region is available to industrial units.

State Package of Incentives under Tripura Industrial Investment Promotion Incentive Scheme-

•                    Capital Investment Subsidy @ 30% and additional subsidy @ 2.5% for enterprises of ST, SC, & women individuals on Fixed Capital Investment.

•                    Full Reimbursement of Standard Certification Fees /Charges / other expenses on account of obtaining a standard Certification.

•                    Provides State Transport Subsidy for covering the portion for which Central Transport Subsidy is not available

•                    85% Exemption from the payment of Earnest Money and Security Deposits on tenders floated by State Govt. Department / Agencies.

Incentives declared by Central Government:

•                    Exemption of Excise Duty on finished products.

•                    Central Transport Subsidy.

•                    Income Tax Benefit.

•                    Capital Investment Subsidy.

•                    Comprehensive Insurance Scheme for insurance coverage. Subsidies to service sector, bio-technology and power generating industries.

INVESTMENT OPPORTUNITIES

Tripura offers an investor-friendly environment. The Government welcomes investments into the State, from both domestic and foreign investors.

•        Natural gas

Tripura has vast reserves of natural gas in non-associate form. The gas is of high quality, with high methane content of up to 97%. The availability of superior quality natural gas, at concessional price, offers a great opportunity to prospective investors, to set up gas-based industrial units, using natural gas

•        Information Technology (IT)

Tripura has been considered the second best IT destination in the North East. IT sector (including IT-enabled services) has been identified as one of the major potential growth sectors by the state. The high literacy rate of the State provides additional advantage for development of the sector.

•        Food Processing

The State government has identified food processing as a major thrust area. There is a vast potential for setting up of food processing units in the State. The agro-climatic conditions in Tripura are ideally suited for production of a large variety of horticultural crops.

•        Handicrafts

From time immemorial, Tripura has carved out a name for itself in the field of handicrafts. The gifted artisans produce wonderful objects of crafts from simple material like cane, bamboo and wood.

•        Tourism

Tripura is an attractive tourist destination. The state has a rich cultural heritage. There are number of historical Hindu and Buddhist sites.


INDUSTRIAL POLICY

•        To improve Basic as well Industrial Infrastructure.

•        Industrial Growth by attracting Private Investment.

•        To improve investment climate towards better regulation by removing barriers to competition.

•        Creation of hassle-free and congenial investment climate.

•        To bring significant increase in the State Domestic Product.

•        Widening of resources base of the state.

•        Development of connectivity (Internal road, railways and air & telecom).

•        Better social infrastructure Enabling Entrepreneurship -building capacities through entrepreneurial and technical skills, training and promotion of self-employment.

 THRUST AREAS

•        Natural Gas

•        Food Processing

•        Rubber

•        Tea

•        Handicraft

•        Bamboo

•        Handloom

•        Tourism

•        Information Technology

•        Education

  •           Healthcare

The Department of Industries & Commerce was established to promote Village and Small-scale industries as well as medium and large scale industries in the State. While efforts are being made to promote entrepreneurship within the State, the outside investors in the public and private sectors are also encouraged both for their financial capabilities and technical expertise, for the medium and large-scale units. The major existing industrial area is the Industrial Growth Centre Complex at Bodhjungnagar which also includes Food Park, Rubber Park and Export Promotion Industrial Park. The other industrial sites near Agartala as the main business and industrial centres are Dukli, Arundhatinagar and Badharghat. The mineral resources are minor amounts of glass sands, limestone, plastic clay and hard rock and all of these materials are being used in varying degrees. Setting up of ceramic tiles unit and other mineral based industries are being encouraged in the private sector.

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Hand Tools (EOU)

A hand tool is any tool that is powered by hand rather than a motor. Categories of hand tools include wrenches, pliers, cutters, striking tools, struck or hammered tools, screwdrivers, vises, clamps, snips, saws, drills and knives. Outdoor tools such as garden forks, pruning shears, and rakes are additional forms of hand tools. Portable power tools are not hand tools. Hand tool, any of the implements used by craftsmen in manual operations, such as chopping, chiseling, sawing, filing, or forging. Complementary tools, often needed as auxiliaries to shaping tools, include such implements as the hammer for nailing and the vise for holding. A craftsman may also use instruments that facilitate accurate measurements: the rule, divider, square, and others Global Hand Tools market is expected to grow from $9.80 billion in 2016 to reach $13.12 billion by 2023 with a CAGR of 4.2%. The growth of the market is propelled by the growing demand for automotive repair and maintenance, rise in demand for automotive tools and mechanic tools, high growth rate in furniture market and increasing diffusion of internet and online shopping.
Plant capacity: -Plant & machinery: -
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Return: 1.00%Break even: N/A
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Resin Cored Soldering Wire

Resin cored solder wire is suitable for safe use on electrical and electronic work such as computers, video recorders, televisions, telephone and telecommunications equipment and other consumer goods without the need to remove the flux residue. The RESIN residue remaining after soldering is non-corrosive and non-conductive and as such means that there cannot be any damage to delicate electrical wires and no new electrical paths can form to cause short-outs or electrical malfunction of the equipment. Growing electronics industry, due to growing urbanization and advancements in technology, is increasing the demand for soldering materials, thus fueling growth of the soldering wires market. Furthermore, increasing demand for transportation due to growing populace is boosting growth of the automotive industry, which in turn is responsible for augmenting growth of the solder wires market.
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Return: 1.00%Break even: N/A
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Grinding Media Ball

A ball mill is a type of grinder used to grind and blend materials for use in mineral dressing processes, paints, pyrotechnics, ceramics and selective laser sintering. The grinding media is the balls, which may be made of steel (chrome steel), stainless steel, ceramic, or rubber. Grinding media, the objects used to refine material and reduce particle size, are available in a wide range of shapes, sizes and materials to meet an equally wide range of grinding and milling needs. Demand for ball mills in cement industry would see a perpetuated growth throughout the forecast period. Technological improvements have resulted in ball mills being used extensively in the cement industry to grind materials into the required size. If the equipment is not operating at optimum efficiency, it results in increased downtime and reduced throughput.
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Return: 1.00%Break even: N/A
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Open Top Sanitary Cans for Food, Pesticides, Paint

A rigid metal container which can be hermetically sealed for packing of thermally and non-thermally processed foods and drinks like fruit and vegetable products, synthetic beverages, meat and fish products, dairy products, instant coffee, instant tea, pesticides & Paint etc. The Global Canned Food Packaging Market was worth USD xx million in 2016 and estimated to be growing at a CAGR of xx%, to reach USD xx million by 2021. Packaging plays an important role in fulfilling the needs of the customers. The Global Canned Food Packaging Market is segmented on the basis of Type of can, Material, Application and Distribution channel. Depending on types of can, the market is segmented into 3-piece welded food cans, 2-piece food cans and open top sanitary can.
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Return: 1.00%Break even: N/A
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Shoe Uppers

The term upper refers to the part or parts of a shoe that cover the toes, the top of the foot, the sides of the foot, and the back of the heel. It is attached to the outsole of a shoe by the welt. It is one of the two general parts of the shoe, the upper and the sole. Depending on the style of the shoe, the upper of a shoe can be cut or molded as a single piece or it can be comprised of many pieces stitched together. Parts of a shoe's upper can include the vamp, the back, the tongue, the quarter, and the lining. Uppers can be made from a variety of materials, with the most popular being leather, satin, suede, and canvas. Athletic shoe uppers are often made of a breathable mesh fabric. Uppers for sandals and flip-flops may be simple straps. Footwear industry in India is very optimistic right now with growing awareness about the latest trends and consciousness among consumers. India is the second largest footwear producer in the world, with footwear production accounting for approximately 9 per cent of the global annual production – 22 billion pairs as compared to China, which produces over 60 per cent of the global production. The footwear market in India, like its international counterpart, has always been broadly classified into three segments, Men’s, Women’s and Kids. Men’s market is growing at a CAGR of 10 per cent. At present, men’s market contributes around 60 per cent of sales in the footwear segment as against women’s share of 30 per cent. The women’s segment, however, is growing at a much faster CAGR of 20 per cent.
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Return: 1.00%Break even: N/A
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Washerless Faucet

A faucet is a device regulating the release of any form of liquid or gas. Faucets consist of various components, which include handle, cartridge, spout, mixing chamber, aerator, and water inlets. Faucets are available in wide range of colors, styles, and finishes in order to meet the demand from customers. When the handle of a faucet is turned on, the valve opens and regulates the flow of liquid/gas. The flow can be adjusted as per the user’s requirement. The body of the faucet is generally made of brass, although die-cast zinc and chrome-plated plastic are also utilized in the manufacture. Growing real estate sector including commercial, residential, and hospitality sectors, along with the rising disposable incomes, steady increase in urbanization, and high brand awareness among the consumers are projected to be the various factors boosting the growth of the global faucets market. Moreover, governments of various countries are introducing novel housing policies for rural areas, lowering housing loans, endorsing foreign investments in industrial sector and so on. The aforementioned reasons are expected to bolster the demand for faucets and in turn, propel the global faucets market growth. The rapid growth exhibited by the housing industry acts as the key driver bolstering the faucets market growth. The steady rise in the sales of homes and construction of skyscrapers and new commercial as well as residential buildings in several developing countries are projected to influence the growth of global market for faucets significantly over the forecast period.
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Armoured Cable

Armoured cable has an extra layer of protection to keep it from being cut or abraded. The armor layer of coax cable is a foil wrap that is ribbed like corrugated metal to allow for flexibility, around the inside and outside of that wrap is a flooding compound to keep moisture from penetrating the cable and causing an impairment. The internal structure of 4 core armoured cable consists of many layers to prevent the cable from damage. The outer jacket provides protection against rodent, abrasion and twist, which is usually made of plastic. And the armoring materials are mainly come from kevlar, steel, and aluminum foils, aiming to protect the armored cable from being stretched during installation. Cable Glands Market generated revenue of $1,667 million in 2016 and is projected to reach $2,513 million by 2023, registering a CAGR of 6.1% during the forecast period, i.e. from 2017 to 2023. In 2016, the armored segment is anticipated to grow at the highest rate during the forecast period.
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Return: 1.00%Break even: N/A
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Buffing & Polishing Compound

These compounds can be used to smooth and/or shine metals, plastic, wood, and other materials. The names buffing compound and polishing compound are used interchangeably and refer to fine abrasive fillers combined with greases which are formed into solid bars or liquid. Polishing is the process which removes surface material, improving the surface and preparing it for buffing. This is generally a coarse operation involving sandpaper and/or coarse polishing compounds. Buffing is a process which makes the surface smooth producing a high luster and mirror finish if desired. This is done with the use of buffing wheels and buffing compounds. Buffing can be divided into two steps; cut buffing and color buffing.
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Corrosion Controlling Chemicals (Pipe Lines)

Corrosion control solutions protect the lifetime and productivity of your assets by reducing equipment failure, maximizing production time, and reducing leaks and spills. By combining innovative chemistries, knowledgeable experts and continuous monitoring, we ensure the right chemical treatment program is implemented to solve your corrosion challenge. The global corrosion inhibitors market size was USD 5.99 billion in 2015 and is expected to show significant growth over the forecast period owing to rising metal processing, power generation, and construction sector. Corrosion inhibitors have been gaining popularity over the past few years, as it increases the service life of equipment by forming a protective layer on the surface. Increasing application in water treatment, power generation, refining, construction and mining industries will stimulate product demand over the next eight years.
Plant capacity: -Plant & machinery: -
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Return: 1.00%Break even: N/A
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Ferrous Sulphate

Ferrous sulfate is mainly used as a precursor to other iron compounds. It is a reducing agent, and as such is useful for the reduction of chromate in cement to less toxic Cr(III) compounds. Historically ferrous sulfate was used in the textile industry for centuries as a dye fixative. It is used historically to blacken leather and as a constituent of ink. The preparation of sulfuric acid ('oil of vitriol') by the distillation of green vitriol (Iron(II) sulfate) has been known for at least 700 years. Ferrous Sulphate Market is predicted to grow at a CAGR of 10-15% from 2018 to 2023.
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Information
  • One Lac / Lakh / Lakhs is equivalent to one hundred thousand (100,000)
  • One Crore is equivalent to ten million (10,000,000)
  • T.C.I is Total Capital Investment
  • We can modify the project capacity and project cost as per your requirement.
  • We can also prepare project report on any subject as per your requirement.
  • Caution: The project's cost, capacity and return are subject to change without any notice. Future projects may have different values of project cost, capacity or return.

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