Agro-based SEZ to come up in Sabroom
The Ministry of Commerce and Industry has notified the setting up of the first-ever Special Economic Zone (SEZ) in Tripura. The SEZ is being set up at Paschim Jalefa, Sabroom, South Tripura District, which is 130 km away from Agartala. It will be a sector-specific economic zone for agro-based food processing.
The estimated investment in the project will be around Rs 1,550 crore, with the developer being Tripura Industrial Development Corporation (TIDC) Ltd. Rubber-based industries, textile and apparel industries, bamboo and agri-food processing industries will be a part of the SEZ.
Coming up of the SEZ in Sabroom will open up new avenues to attract private investment considering the proximity of Bangladesh’s Chittagong Port and construction of the bridge across Feni River in South Tripura which is underway.
After it is set up, 100 per cent 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 per cent exemption will be provided for the next 5 years and 50 per cent of the ploughed back export profit for another 5 years.
