Agartala, Apr 21 (IANS): To boost the investment and the industries, the Tripura government on Wednesday launched the "Tripura Industrial Investment Promotion Incentive Scheme (TIIPIS), 2022" for the next 5 years, and increased the transport subsidy from 10 per cent to 50 per cent.

After approving the TIIPIS-2022 in the state cabinet, Tripura Chief Minister Biplab Kumar Deb in a series of tweets said that to boost the industrial development of the state, TIIPIS-2022 was launched for the next 5 years.

"Under this scheme, various subsidies would be provided to companies and Self Help Groups for setting up industries in the state," he said.

The Chief Minister said that the state transport subsidy shall be provided 50 per cent of transportation cost incurred for ferrying of secondary raw materials from outside the state in place of the existing 10 per cent transport subsidy for transportation of finished goods.

Tripura Chief Secretary Kumar Alok in his tweet said that the incentives for investment in Tripura have been significantly increased to attract investment and create employment opportunities.

The newly approved TIIPIS-2022 would encourage the entrepreneurs to set up their industrial units based on the local raw materials like rubber, bamboo, agriculture and horticultural produce, gas, tea, Agar oil extraction, rubber wood processing and some demand based service and manufacturing sector activities related to tourism promoting activities like, water-sports, ropeways, floating, restaurants and hospital and nursing home, processing of plastic waste and e-waste, municipal waste.