|Tripura Industrial Development Corporation
Ltd. (TIDC) was incorporated in the year 1974 as a company under the Company's
Act, 1956 with the basic objective to promote industries and to create
healthy industrial environment in Tripura. With this view TIDC required
to play the role of a catalyst in the development of the state. Particularly,
it is required to perform the twin role of State Industrial Development
Corporation and State Financial Corporation. The activities and performance
of the corporation are given below.
Functions and objectives :
The basic objectives of TIDC can be classified
in the three major heads :
Development of infrastructure facilities :
Development of infrastructure facilities.
Extending financial assistance to the prospective
To promote industries in state, it is necessary
to develop proper infrastructural facilities in the form of industrial
facilities in the form of industrial areas. This is particular necessary
if potential entrepreneurs are to be invited from outside the state as
they expect to get ready infrastructure. TIDC is acting as nodal agency
of the state government for implementation of different centrally sponsored
Growth Centre : TIDC is implementing a growth
centre at Budhjangnagar near Khayerpur, about 10 Km from Agartala. The
total land is 240 acres. The total project cost is Rs. 15 crores. The preliminary
works like acquisition of land and contour survey have been done. After
development of plots with infrastructural facilities, the same will be
allotted to the entrepreneurs. The growth centre will be based on natural
gas utilization both as fuel and feed stock. In addition to other
facilities, the growth centre will include shopping centre, power station,
telephone exchange, school, hospital etc.
Integrated Infrastructure Development Centres
(IIDs) : The new scheme is a scaled down version of Growth Centre
Scheme. The total area and the project cost of each centre would be about
40 to 50 acres and Rs 5 crores respectively. It has been decided to set
up these centres and the North, South and Dhalai districts of Tripura.
Export promotion and Industrial park (EPIP)
: There is also a proposal for setting up an Export Promotion Park to encourage
the export oriented units (EOUs). The EOUs will be housed in the proposed
park. There are potentialities for handicrafts, handlooms and fruit processing
industries for export.
Despite its natural resources and comparatively
high the literacy, the state has failed to take off industrially. All four
districts of the state are 'No Industry District'. TIDC is playing a vital
role for economic development of the state through planned industrialization.
Tripura's resource potential lies in natural gas, rubber, horticulture,
bamboo, sericulture and tourism. The resources are to be utilised with
timely planning for industrial and economic planning.
Gas is available in non-associated from with high
Methane content of about 97%; at present, 2.00 MMSCMD gas is available.
The amount is expected to increase to 4.5 MMSCMD by 2001-02; present utilisation
is 0.45 MMSCMD, mainly for power projects. Additional quality committed
for power projects is 0.8 MMSCMD, balance available - 0.75 MMSCMD.
Concessional gas pricing for North Eastern Region:
Current Consumer price at land fall points about Rs. 1200/MCD for North-east
as against General Price of Rs. 2200/MCM: Further discount of Rs 300/MCM
on case to case basis, for new consumers in North-Eastern region for a
period of 5 years.
Projects that can be set using available gas as
feed stock are Urea complex (Rs 1145 crore), Urea-PVC complex (Rs. 1305
crore), Urea-Methanol complex (Rs. 987 crore), Liquid/Solid Hydrocarbon
complex (Rs 376 crore).
Rubber Board has declared Tripura 'Second Rubber
Capital' of India.
Total area under plantation is 23,500 Hactere.
The potential for plantation in the state by 2001-02 is about 1,00,000
Rubber production- 5,000 TPA. Production is expected
to increase to 20,000 TPA by 2001-2002.
There is scope for setting up of rubber based
Fruit Processing : The production of major
horticulture crops are pine apple (45000 TPA), orange (24000 TPA), jackfruit
(22000 TPA), litchi (3000 TPA), cashew (1800 TPA) and coconut (1250
TPA). Fruit Processing units can be set-up with these resources.
Cane and Bamboo handicrafts : Tripura handicrafts
are among the best in the country and being exported also. There is scope
to modernize and set up export oriented units.
Incentive for industries
Tea : Tripura is traditional tea growing
state and has scope to increase production. The present production is about
54000 TPA. Other potential sectors include forest-based industries, tourism
electronics, software development light engineering, textile and other
industries with export potential to Bangladesh and neighbouring countries.
Following incentives are available for
investment in the State :
Transport subsidy @ of 90% of transportation cost
of raw materials/finished goods between Siliguri and project site. Also,
50% subsidy of transportation cost of finished goods from one state to
another in the N.E Region.
Income tax exemption to new units for 5 years
and 10 years if within industrial estates/Growth Centre.
Credit to SSI and Service sector State level financial
institutes mainly meet up the demand for credit in small scale sectors
in the North Eastern region. Bank financing to SSI sector is declining
day by day. 80% of the loan portfolios are based on different refinance
schemes of SIDBI. The Corporation is financing both term loan and working
capital under single window scheme. The performance of the Corporation
for the last 5 years is reproduced below:-
Capital investment subsidy @ 30% of the fixed
capital investment for new units. Additional subsidy in certain cases.
Total subsidy per unit will not exceed Rs. 25 lakhs.
Sales tax exemption to new units for 5 years.
15% price preference for local units in
purchase by State Government Departments.
100% subsidy for standard certification.
4% subsidy for the annual interest paid by the
unit up to 5 years.
(Rs. in lakh)
Low recovery and lack of share capital from
IDBI and State Government remains the hurdle in boosting up sanction and
disbursement. The Corporation is taking measures to reduce NPAs and invest
in better portfolios. Writing-off bad debts has also resulted in reduction
of profit for the Corporation during the last few years. To reduce
NPAs the Corporation is encouraging One Time Settlement offers specially
with the borrowers whose accounts have become sticky and have remained
doubtful for years. Apart from that re-schedulement of loan account is
also being done. The Corporation has so far taken over four units and been
able to sell only one unit and that too with loss of principal amount.
The main constraint that the Corporation is facing for taking over is lack
of suitable buyer. Even after repeated advertisements in local as well
as national dailies for auction of units, the response is very poor and
the, rates offered are much below the asset value. To boost up recovery,
the transport vehicles financed by the Corporation are seized directly
from road and auctioned.
In the advent of the next millennium the State
government seeks to stimulate the industrial growth rate, As the contribution
of the secondary sector is only 5-6% in the State economy there is ample
scope for development. With discovery of huge reserves of natural of natural
gas and vast areas coming under rubber plantation in near future, Corporation
is poised for industrial growth in the State.
Natural gas based industry.
Rubber based industries.
Handlooms & Handicrafts.
Export oriented industries.