Addressing the foundation-laying ceremony of the Special Economic Zone (SEZ) in southern Tripura from New Delhi through video conferencing, Goyal, who is also the Commerce and Industry Minister, said that as part of the initiative towards "Atmanirbhar Bharat", a new item would be chosen in each district and would be developed with all out efforts before being marketed in India and abroad.
The SEZ is being set up at Paschim Jalefa near Sabroom town in southern Tripura, 130 south of Agartala, but only 72 km from Benglaadesh's Chittagong port.
Goyal said that rubber, bamboo, agri-based products and food processing industries would be set up in the SEZ and Rs 650 crore would be invested in it.
"Initially, Rs 60 crore would be spending to develop the infrastructure in the SEZ. Trade with Bangladesh would increase manifold after the setting up of the SEZ and completion of the ongoing railway projects," he said.
A senior official of Tripura's Industry and Commerce Department said that with the setting up of SEZ would further increase the export potential of the state at least up to Rs 2,000 crore per annum.
He said that the Central government has already notified the 16.35 hectares to set up the sector-specific SEZ, which was notified by the Union Commerce and Industry Ministry on December 16, 2019.
Chief Minister Biplab Kumar Deb said that around 5,000 people would get employment after setting up of the first-ever SEZ in the northeastern state.
"After completion of the under construction bridge over river Feni by December, Tripura would be directly connected with Bangladesh by road and would facilitate ferrying of goods by using the Chittagong port," said Deb, who also holds the Industry and Commerce Department.
The Maitri Setu bridge, near the SEZ site, is under construction since 2017.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.