Tripura gets its very own SEZ
The Ministry of Commerce and Industry has notified the launch of the first ever Special Economic Zone (SEZ) at Paschim Jalefa, Sabroom, South Tripura District, Tripura on December 16, 2019. Situated 130 km away from Agartala, this will be a Sector Specific Economic Zone for Agro-Based Food Processing – like Rubber based industries, textile and apparel Industries, and bamboo. An amount of around 1550 Crore will be invested in developing it. The SEZ is estimated to generate around 12,000 skilled jobs.
After it is set up, 100% Income Tax exemption will be provided on export income for SEZ units under Section 10AA of the Income Tax Act for the first 5 years. Also 50% exemption will be provided for the next 5 years and 50% of the ploughed back export profit for another 5 years.