Central govt approves setting up Special Economic Zone (SEZ) in Tripura

Central govt approves setting up Special Economic Zone (SEZ) in Tripura

Agratala, Oct 5 (KNN) The Central Government has given approval for setting up Tripura's first ever Special Economic Zone (SEZ) at 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.

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.

The SEZ will have Duty free import/domestic procurement of goods for development operation and maintenance of SEZ units, 100 per cent Income Tax exemption on export income for SEZ units under section 10AA of the Income act for 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.

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