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Tripura targets to hike industry sector’s contribution to 50 pc of state’s GDP

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Agartala: The Tripura government set a target to hike the contribution of the industrial sector to 50 per cent of the State’s Gross Domestic Product (SGDP), which is much lower now, said Chief Minister Dr. Manik Saha here on Thursday while addressing the 34th Industries and Trade Fair.

The state has projected the Gross State Domestic Product at 8.95 per cent in the 2023–24 financial year, which was 8.80 per cent in the last fiscal year against the country’s GDP of 7 per cent. And the contribution of the industry sector to the economic growth indicator of economic health is meagre as of now.

Dr. Saha claimed, however, that in a couple of years, the economy has improved significantly, which is why many industry leaders are eager to set up their units here in Tripura, and the state government has also brought about changes in the industrial policies to attract investments into the service industries, value addition of domestic products, and manufacturing activities.

“At present, a total of 315 new medium and large industrial units have been set up in 14 industrial estates in Tripura, and more than 7,000 people were employed in these units, besides an impressive number of value-added and manufacturing units by the self-help groups and small entrepreneurs.” Dr. Saha stated.

Taking a dig at the previous Left Front government, Dr. Saha said, “There was a time when an enterprising mindset was condemned. But now things have changed. New ideas are being encouraged, and new businesses are growing all over the state. This is a moral victory for the BJP-led double-engine government,” he pointed out.

Tripura Industrial Incentive Scheme 2022 has resulted in a positive environment for the industrial atmosphere in the state, and trading activities have increased in manifolds, including exports. To encourage local business, Rs 140 crore has been sanctioned for the establishment of a Unity Mall in the city, which is a government-backed initiative to sell local products that will contribute to economic growth, cultural diversity, and tourism, the Chief Minister added.

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