26 February 2022, Mumbai:
For all the right reasons, the prospective industrial sector in India's North-East states is attracting attention right now.
The region possesses vast natural resources, a cheap and hardworking labor force, well-developed transportation, and cross-border connections with nations in Southeast Asia.
Tripura's Chief Minister, Biplab Kumar Deb, has stepped forth to welcome Bangladeshi garment makers to invest in the state, recognizing the potential of the state's manufacturing industry.
"Bangladesh is a behemoth in the apparel business," Deb said. I'd want to invite business magnates to come and build up manufacturing plants at Sabroom, which is barely 72 kilometers from Chittagong's port.
We're establishing a logistics center, a Special Economic Zone, where Bangladeshi investors would be eligible for incentives.
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" If the made clothing is exported, according to Deb, the factories must pay customs taxes. "However, if a garment is created in Tripura, the Indian government would provide subsidies to the manufacturing units," Deb explained, adding, "Both the Prime Ministers (of India and Bangladesh) have elevated the long-standing friendship between the two countries to new heights."
Whenever I requested the assistance of Bangladesh's Prime Minister for a project, she did not deny it. Tripura received everything she had."
It's worth emphasizing that in Tripura, projects worth several thousand crores are already in the implementation stage, and Bangladesh might gain if it chooses to invest in the state. "Bangladesh is a cement and steel exporter. Infrastructure development projects of Rs. 3,500 crore are now underway in Tripura, including railroads.
Bangladesh can also benefit from it. When the North East's commerce passes via Chittagong port, Bangladesh's economy would benefit as well," Deb said.
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*Figures mentioned in the above article have been sourced from aninews.com & Apparel Resources article.
