Agartala, Aug 4 (IANS): A multi-purpose Integrated Development Complex (IDC), to be funded by the Union Commerce Ministry, will be set up in Tripura to boost trade with Bangladesh, officials said on Thursday.

The IDC will come up at a cost of Rs 12.62 crore at the Manu Land Custom Station (LCS) near Sylhet division in Bangladesh.

"The IDC will be an important trading point between India and Bangladesh. This will be the second IDC along Tripura's border with Bangladesh," Tripura's Industry and Commerce Department Director V.G. Genner told IANS.

Commerce and Industry Minister Nirmala Sitharaman inaugurated the first IDC at Srimantapur in Tripura along the border with Bibir Bazar district of Bangladesh.

Tripura has eight Land Custom Stations along the India-Bangladesh border.

The IDC, to be built on six acres of land, is a miniature of the Integrated Checkpost built by India along Bangladesh and Myanmar border to boost trade and business.

The IDCs would have all basic modern facilities like customs, immigration, banking with currency exchange facility, warehouse and public utility services.

"Of the Rs 12.62 crore projects, 90 per cent would be borne by the Union Commerce Ministry and the rest by the Tripura government," he added.

Tripura Chief Minister Manik Sarkar on Tuesday visited the proposed site of the new IDC.

There are 31 Land Custom Stations in the northeast bordering Bangladesh.

According to a Tripura official, the total India-Bangladesh trade has increased manifold in Tripura from Rs 4.12 crore in 1995-96 to Rs 384 crore in 2015-16.

Goods worth Rs 382 crore were imported from Bangladesh and the remaining amount was the value of exports.

India has a 1,880-km border with Bangladesh along four states -- Tripura (856 km), Assam (263 km), Meghalaya (443 km), Mizoram (318 km).