Tripura govt announces incentives for investment

Agartala, Dec 12 (UNI) The Tripura government today announced the ''Tripura Industrial Investment Promotion Incentive Scheme, 2007'' (TIIPIS) as an added incentive to the North East Industrial Investment Promotion Policy (NEIIPP), 2007, to attract investment in the state.

Talking to mediapersons, state Industry Minister Tapan Chakraborty said the investors would get 30 per cent capital investment subsidy on land and building with maximum ceiling of Rs 50 lakh while also offering to reimburse Value Added Tax for the investors under TIIPIS.

''TIIPIS is aimed at sustainable economic development and improvement of living standards with special focus on optimal utilisation of natural and physical resources,'' Mr Chakraborty said. He underlined that the state government would prefer to purchase 10 per cent production of the units and 100 per cent orders would be awarded to the local enterprises, excepting items like cement, steel and galvanised iron sheets.

Besides, the investors would get 100 per cent transport subsidy on raw materials and finished goods, including the 90 per cent subsidy which had already been offered by the NEIIPP, 2007, and power subsidy on tapering basis of five years on actual consumption with a ceiling of Rs 12 lakh per month, Mr Chakraborty informed.

Moreover, a one time reimbursement of 100 per cent standardisation certification fees, along with partial reimbursement of three per cent interest subsidy on the term loan subject to a ceiling of Rs one lakh for a period of five years, would be provided, he added.

UNI