Tripura’s First Ever SEZ

First-ever Special Economic Zone (SEZ) was laid to foundation stone by the Chief Minister Biplab Kumar Deb at Sabroom which is the southernmost town of the state bordering Bangladesh.

Key Points

• It is around 120 km from Agartala
• It would emerge as the commercial capital of the Northeast.
• SEZ would be set up at Jalefa in Sabroom subdivision,
• Total investment on the project is Rs 635 crore.
• The SEZ would be focussed on four sectors namely,

1. Food processing,
2. Rubber,
3. Bamboo and
4. Textile sector.

• An integrated check post will be set up for the movement of passengers and
• This SEZ is going to make Tripura a self-reliant state.
• It will generate around 5,000 jobs.
• Farmers and traders will be benefited more.

What is special Economic zone (SEZ)

SEZ is an area in which the business and trade laws are kept different from the other part of the country. These areas are located within the national borders of country.  The primary aim of the SEZ is to increase trade balance and employment, increase investment and job creation including the effective administration. Financial policies are introduced so as to encourage businesses to set up in these zones. Companies are also offered tax holidays so encourage investments.

Key Facts to remember

• Tripura shares an 856-km-long international border with Bangladesh.
• National Highway 8 connects Tripura with rest of the country.
• Rice cultivation accounts for 91% of the land area.
• It is the 3rd smallest state of India.
• Census 2011 data shows that Tripura is the most literate state with literacy rate of 87.75%.
• It is a landlocked state.
• The state has been designated “Aw” under the Köppen climate classification.
• It has a tropical savanna climate.

Month: Current Affairs - September, 2020