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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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Nitric Acid (60%) from Ammonia

Nitric acid is the primary reagent used for nitration – the addition of a nitro group, typically to an organic molecule. While some resulting nitro compounds are shock- and thermally-sensitive explosives, a few are stable enough to be used in munitions and demolition, while others are still more stable and used as pigments in inks and dyes. Nitric acid is also commonly used as a strong oxidizing agent. Nitric acid is made by the reaction of nitrogen dioxide (NO2) with water. Normally, the nitric oxide produced by the reaction is re-oxidized by the oxygen in air to produce additional nitrogen dioxide. Adding sulfuric acid to a nitrate salt and heating the mixture with an oil bath can make almost pure nitric acid. A condenser is used to condense the nitric acid fumes that bubble out of the solution. The global nitric acid market size is expected to reach USD 14.0 billion by 2022, progressing at a CAGR of 1.8% during the forecast period. Flourishing agriculture industry and surging demand for fertilizers are among the key trends escalating market growth. Nitric Acid Market is expected to observe a surge in demand due to growing application in production of various chemicals including calcium ammonium nitrate, ammonium nitrate, toluene di isocyanate, adipic solutions and nitrobenzene, especially used in fertilizers, pharmaceuticals, polyurethanes and other end use industries. In addition, rising need in various chemical industries including elastomers, polyurethane foams and coatings coupled with elastomers, foam plastics, floor & wood finishes, polyurethane foam coated fabrics and different insulation materials is anticipated to boost nitric acid market growth in the forecasted period. Nitric acid is one of the world’s largest commodity chemicals. It is used predominantly as an intermediate for fertilizer production (primarily ammonium and calcium ammonium nitrate) and for the production of nitro-containing organic intermediates. The market for nitric acid was mainly driven by fertilizer industry. Nitric acid is used in manufacturing of ammonium nitrate and calcium ammonium nitrate which finds application in fertilizers. Ammonium nitrate is also used in manufacturing of urea
Plant capacity: -Plant & machinery: -
Working capital: -T.C.I: -
Return: 1.00%Break even: N/A
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Utensil Cleaning Bar

Utensil-cleaning products are formulations in powder, bar, paste or liquid form, containing a cleansing agent like synthetic detergent, soap, SLS, etc., along with powdered, mildly abrasive materials (optional in case of liquid). These are used primarily for cleaning of utensils and crockery, and secondarily for kitchen shelf and basin or even cooker tops, etc., where cleansing is affected by the combined action of detergency and scrubbing. In utensil cleaning category, dishwashing bars dominate market revenues, followed by liquid cleaners whereas dishwashing paste has negligible contribution. Consumers in urban areas are now upgrading to dishwashing liquids which are expected to register robust growth in the forecast period. Powder based utensil cleaners are now set to diminish from the market. The surface cleaning market is growing mainly because of rising awareness about brands due to heavy promotion by leading companies.
Plant capacity: -Plant & machinery: -
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Return: 1.00%Break even: N/A
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Hawai Chappal (Footwear)

Hawai chappals are lightweight footwear used by gents, ladies, and children and are used probably by every person in the society of all ages. Nowadays with the advancement of technology slippers are being manufactured in lot many variations including fancy chappals. Global Footwear Market is expected to garner $371.8 billion by 2020, registering a CAGR of 5.5% during the forecast period 2015 - 2020. Footwear industry is growing at a steady pace since the past few years. Analysis of the report includes various types of footwear including athletic and non-athletic shoes used by individuals of all age groups and gender. The rising demand for fancy, trendy yet comfortable footwear among all age groups is a key factor driving the global footwear industry. The global footwear market is segmented by type of footwear, end users of footwear, various platforms for sale of footwear, material used, and their sales across various geographies. Based on footwear type, the global footwear market can be classified as athletic footwear and non-athletic footwear. Athletic footwear includes aerobics shoes, running shoes, sports (cross training), walking shoes, soccer shoes, tennis shoes, cricket footwear, seasonal boots and others. Non-athletic footwear includes boots, casual, formal and rugged, and waterproof footwear. The global footwear market is rising expeditiously as footwear is increasingly becoming a fashion accessory. Not only this, the increasing demand for trendy, yet comfortable footwear among all age groups a key factor driving the global footwear market. With increasing participation in sporting activities and changing lifestyle, there is a massive demand for athletic shoes among non-sportspersons as well. Manufacturers are continuously focused on expanding their product portfolio in order to gain competitive advantage in this market.
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Return: 1.00%Break even: N/A
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Foam & Its Products (Mattresses, Cushions, Pillow Sheets)

Mattresses Mattresses are usually placed on top of a bed base which may be solid, as in the case of a platform bed, or elastic, such as an upholstered wood and wire box spring or a slatted foundation. Popular in Europe, a divan incorporates both mattress and foundation in a single upholstered, footed unit. Divans have at least one innerspring layer as well as cushioning materials. They may be supplied with a secondary mattress and/or a removable "topper." Mattresses may also be filled with air or water, or a variety of natural fibers, such as in futons. Kapok is a common mattress material in Southeast Asia, and coir in South Asia. The global mattress market was valued at $31,181.5 million in 2017 and is predicted to register a CAGR of 3.8%, during 2018–2023. Rise in purchasing power parity and growing global population are the major drivers for the mattress market. Increasing number of hotels and rooms are expected to drive the growth of mattress. According to World Tourism Organization (UNTWO), international tourism grew by 7% in 2017 and is expected to grow at a rate of 4-5% in 2018. Moreover, increasing tourism is expected to drive the growth of hotels worldwide, which would further support market growth. Based on end use, the mattress market has been classified into commercial users and residential users, out of which, commercial segment accounted for over 50% of revenue share in the global market in 2017. In the commercial segment, hotels are the main end users of mattresses as they change the mattresses more frequently than the residential users. On an average, a residential user changes their mattresses in 9-10 years, while the hotels change mattresses in around 5-6 years. Mattress market is fragmented with regional players having greater dominance in their respective regions. Global players such as Tempur Sealy International Inc, Serta Inc, Sleep Number Corporation, are set to enhance their footprint by expanding the manufacturing facilities, franchises and joint ventures in order to compete with regional players. Cushions A cushion is a soft furry bag of some ornamental material, stuffed with wool, hair, feathers, polyester staple fiber, non-woven material, or even paper torn into fragments. It may be used for sitting or kneeling upon, or to soften the hardness or angularity of a chair or couch. Decorative cushions often have a patterned cover material, and are used as decoration for furniture. The top countries contributing to Outdoor Cushions Industry market include the United States, European countries, Japan, China, India, Korea, Africa, and others. Custom country level and regional level information can be analyzed based on user’s interest.
Plant capacity: -Plant & machinery: -
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Return: 1.00%Break even: N/A
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Submersible Pump & Motor

A submersible pump (or sub pump, electric submersible pump (ESP)) is a device which has a hermetically sealed motor close-coupled to the pump body. The whole assembly is submerged in the fluid to be pumped. The main advantage of this type of pump is that it prevents pump cavitation, a problem associated with a high elevation difference between pump and the fluid surface. Submersible pumps push fluid to the surface as opposed to jet pumps having to pull fluids. Submersibles are more efficient than jet pumps. A submersible pump pushes water to the surface by converting rotary energy into kinetic energy into pressure energy. This is done by the water being pulled into the pump: first in the intake, where the rotation of the impeller pushes the water through the diffuser. Submersible pump is a mechanical device used for transferring various types of fluid in different end use industries and is highly preferred for agricultural and industrial applications. Submersible pump is vertically submerged under the fluid to be transported (such as water etc.) and is driven by electric current, operating on the principle of centrifugal force. Various kinds of submersible pumps are available in the market, serving different purposes. The Global submersible pump market is anticipated to reach USD 12.5 billion in 2023 witnessing a CAGR of 5.5% over the forecast period 2015-2023. Asia-Pacific accounted for the highest percentage share of 42% to the global market in 2014, however the market is estimated to reach USD 2.8 billion by 2016 This can be attributed to various factors such as growing urbanization, rapid growth in industrialization, increasing population and emerging economy of developing nations such as India, China and Japan.
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Return: 1.00%Break even: N/A
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HDPE Film Sheet

High Density Polyethylene (HDPE) is the high density version of PE plastic and is harder and denser than the LDPE, but is less ductile, and lighter than water. HDPE is well suited for applications where a greater tensile and compression strength is needed. HDPE films and sheets segment is also anticipated to observe lucrative growth rate by 2025. Unique properties of HDPE sheet include abrasion resistance, good electrical properties, low friction coefficient, chemical & corrosion resistance, moisture & odor resistance, and high impact strength. HDPE is widely utilized in food packaging industry and is FDA approved; borated HDPE is used on nuclear facility applications as it offers strong radiation protection. The global plastic films & sheets market is expected to reach USD 157.5 billion by 2025, according to a new report by Grand View Research, Inc. Rise in the global consumption of sustainable textiles has been a major factor driving market growth. Growing demand from application industries and rising prominence of eco-friendly and water soluble films have increased the utilization of plastic films and sheets in the global market.
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Return: 1.00%Break even: N/A
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Coated Paper & Board (Art & Chromo)

Coated Paper Coated paper is paper which has been coated by a mixture of materials or a polymer to impart certain qualities to the paper, including weight, surface gloss, smoothness or reduced ink absorbency. Various materials, including Kaolinite, calcium carbonate, Bentonite, and talc can be used to coat paper for high quality printing used in packaging industry and in magazines. The Coated Paper Market is projected to reach USD 7.18 Billion by 2021, at a CAGR of 3.2% from 2016 to 2021. In this study, 2015 has been considered as the base year, and the forecast period is from 2016 to 2021 to estimate the coated paper market. The growing demand for coated paper in Asia-Pacific, Europe, and North America coupled with its increasing demand for packaging and printing applications is expected to drive the coated paper market. Global coated paper market is expected to witness considerable growth owing to rapidly increasing demand from advertising and packaging industries. Coated paper offers gloss and matte texture finishes leading to rising applications in advertising materials, security papers, newspaper inserts, converted paper products, catalogue and magazines among others. Coated Board Coated Board is a coated, thick paper-based material. Coated Board is a paper with a basis weight (grammage) above 224 g/m2, but that is not absolute. Coated Board can be single (SBS) or multi-ply. Coated Board can be cut and formed, is lightweight, and as it is strong, is used in Packaging. Another end-use would be graphic printing, such as book and magazine covers or postcards.
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Return: 1.00%Break even: N/A
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Vermiculture Production with Training Centre

Vermiculture (from Latin word vermis, meaning worm) is the intentional rearing of earthworms to produce more earthworms. It involves the mass production of certain species of this annelid worm by providing them appropriate food and optimum conditions for their growth and reproduction. Vermiculture and vermicomposting are therefore inseparable. Vermiculture requires the use of organic materials as feed of the earthworms. To accelerate the production of earthworms, it is necessary to understand not only the breeding and growth requirements of the organism but also the process of producing compost. Conversely, the process of vermicomposting requires also an understanding of earthworms, particularly those which are efficient decomposers. In either system, both earthworms and vermicomposts are produced. Applications of Vermiculture – Earthworms can be sold to the following markets: Bait and tackle shops Large-scale vermicomposting facilities Worm growers just entering the business Institutions and businesses that do on-site vermicomposting of their food scraps and other organic materials (includes prisons, hospitals, schools, colleges and universities, restaurants, grocery stores, office buildings, etc.) Farmers desiring to vermicompost animal manure (including livestock and poultry farms, rabbitries and horse stables) Composters, organic gardeners or fisherpeople wanting to raise worms for their own use Growers with orders too large to fill from their own stocks Private laboratories, universities, and high schools for research and classroom needs Businesses that need worms as food for animals: Fish hatcheries Tropical fish stores Pet stores Zoos (w/ exotic fish and birds) Gamebird breeders Frog farmers Poultry growers Industries with organic wastes suitable as feedstock for worms: Composting facilities Papermills Breweries Cardboard manufacturers Land reclamation sites Generators of sludge/biosolids Food processors Canneries Wineries Cotton mills
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Return: 1.00%Break even: N/A
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Home Furnishing (Export Quality)

The term “Home Furnishings” is a broad label that can include a number of things. As the name suggests, it includes anything that is used to furnish a home. This category includes furniture items, and some people try to use these words interchangeably. While there are many items that fall into both categories, home furnishings are the broader of the two categories. For example, a sectional sofa easily can be classified as a piece of furniture and as a home furnishing. Household furnishings are personal property and include, among others, such items as furniture, appliances, rugs, cooking utensils, and art objects. Typically not included within the definition of household furnishings are items classified as improvements, such as wall-to-wall carpeting, built-in ovens, ranges, and dishwashers. The India home furnishing market derives its demand from textile industry. With the increasing textile industry the market for home improvement has a rich history behind it. Home Decor Market is expected to garner $664.0 billion by 2020, registering a CAGR of 4.2% during the forecast period 2015-2020. Furnishings, textiles and floor covering products are key components of home decor. Expansion and developments in real estate industry, have supplemented the growth of world home decor market. Globalization facilitates easier and wider availability of home decor products and designs for consumers. Moreover, growing consumer preference towards adoption and usage of eco-friendly products, known for their minimal impact on the environment, has also boosted the growth of the market. With the increasing textile industry in the country, the furnishing market will continue to flourish. The home furnishing market is anticipated to witness demand from retail industry. By 2018, home furnishing market in India is expected to grow at CAGR of 8%by value to reach USD5.29 Billion. During the same period, curtains &, upholstery and rugs & carpets will grow at CAGR of 8% and 9.4 %. Home furnishings segment, on the other hand, contributes the lowest share of 26 per cent. The segment is further broken into sub-segments of bed linen, towels and robes, kitchen linen, curtains, upholstery, blankets, rugs and carpets. Among these sub-segments bed linen has the largest share close to half of total market. But the faster growing sub-segments are curtains, upholstery, blankets, rugs and carpets.
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Return: 1.00%Break even: N/A
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Glycerin Bath Soap (Pears Type)

Soaps vary a great deal in terms of their ingredients. For example, while some soaps make your skin dry, other soaps are very moisturizing. Glycerin soaps are considered to be one of the most moisturizing types of soap. The unique quality of this type of soap allows it to be both moisturizing and effective for all different kinds of skin. The benefits of glycerin soap help skin become healthy and moisturized. Glycerin is thought to be humectants, which means that it can attract moisture. Due to this quality, glycerin soaps attract moisture to skin and keep it locked in. This provides skin constant hydration. Unlike some soaps that dry skin out and make it feel tight and even flaky, glycerin soap keeps your skin feeling more hydrated for several hours after you use it. The market for soaps in India will grow at a CAGR of 5.5% during the period of FY 2016 to FY 2022. Soap is a product that has the highest market penetration in India, covering more than 80% of the country’s urban as well as rural households. During FY 2016, beauty soap segment had the largest share with 50%, followed by health soap segment with 28.6%. UAE, Nepal and USA are the top three countries that imported Indian soaps.
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Return: 1.00%Break even: N/A
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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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