Tripura Rubber Park, promoted jointly by Tripura Industrial Development Corporation (TIDC) and Rubber Board, India, is playing a big role in promoting the rubber industry of the small State in India’s North East.
Tripura, the third-smallest among the Indian states after Goa and Sikkim, has many peculiar features. It is bordered by Bangladesh in the north, south, and west. As much as 60% of the land is covered by forest. With an area of 75,000 hectares presently under rubber plantations, Tripura is one of India’s leading natural rubber (NR) cultivating States. Rubber Board, India, considers Tripura as the ‘Second Rubber Capital of India’, the Kerala being the First.
Rubber cultivation has been identified as a Thrust Area in Tripura. About 100,000 hectares of potential land can be brought under rubber plantation. The yield is 1,500 kg per hectare and the quality of rubber is almost comparable to that of Kerala, the home of Indian rubber. Rubber cultivation in Tripura was started in 1960s. Within no time, the latex was glued to the psyche of the State and became a commodity synonymous with job creation and development of the State. Now, Tripura produces 50,000 tonnes of rubber per year. More and more plantations are reaching the yielding stage and the productivity levels are also encouraging. In view of the area under plantations together with the growth and rubber production trends, there is a vast potential for the setting up of rubber-based industry units in the State.
Being recognized as a Thrust Area in Tripura, setting up of natural rubber-based industries in the State get added benefits under the Tripura Incentive Scheme. In this context, the Tripura Rubber Park, second one in India established in 2012, assumes significance. The Park, situated at Bodhungnagar in West Tripura, is promoted jointly by Tripura Industrial Development Corporation (TIDC) and Rubber Board, India.
The Park, constructed with an investment of Rs 230 million, spans over an area of 58.819 acres. All the 16 Industrial Plots of the Park have already been allotted. Out of the total area, 15 acres have been earmarked for Common Infrastructure Facilities and 28 acres have been distributed for setting up individual rubber industry units. Owing to increased demand for plots, TIDC has acquired another 30 acres of land in the extended Growth Centre Zone and allotted 50% of the land to industry units.
As of now, a total of Rs 1,110 million has been invested by companies in the Park and they together provide employment for 600 people.
Facilities aplenty
The Park provides all the common facilities required for a company to start operations. It has an administrative block and a common amenity building. What is more, it has a modern Laboratory equipped with the latest instruments. The common infrastructure includes water supply, sewerage, storm water drainage, OHT, UGR, Warehouse, IRP, Pump House. It has a full-fledged Power Distribution System and electricity is available 24×7. Landscaping of the area is already done. Internal roads and streetlights (auto timers) are also provided. A 500-KL Common Effluent Treatment Plant is another advantage.
Tripura Rubber Park is located very close to the Southeast Asian Region through Bangladesh. Agartala is the second busiest airport in the North East Region. The road connectivity is via NH44; a project for upgrading the highway to double lane is ongoing. Major cities are connected by direct flight through Kolkata/Guwahati. Besides, the Chittagong Port is a future trade route through Feni Bridge.
Interestingly, the volume of trade between Tripura and Bangladesh increased to Rs 3,048.3 million in 2016-17 from Rs 41.2 million in 1995-96. It is expected to reach Rs 4,000 million during 2017-18. It has thrown open a new market for companies.
The major companies operating in Tripura Rubber Park are: Aristo Texcon Pvt. Ltd, Brite Rubber Processing Pvt. Ltd, R.S.Footware Industry, Maximus Rubber Industries Pvt. Ltd, Malaya Rub-Tech Industry, Deb Industry, Nebel India, Mas Latex Industry, Ram Krishna Rubber Industry etc.
The major companies operating in Tripura Rubber Park are: Aristo Texcon Pvt. Ltd, Brite Rubber Processing Pvt. Ltd, R.S.Footware Industry, Maximus Rubber Industries Pvt. Ltd, Malaya Rub-Tech Industry, Deb Industry, Nebel India, Mas Latex Industry, Ram Krishna Rubber Industry etc.
A rubber plantation in Tripura
The Government of Tripura offers excellent incentives to the rubber companies under Tripura Industrial Incentive Promotion Scheme 2017. These include: Central Package of Incentives (for Large Projects), State Incentives under Tripura Incentive Scheme (for Medium Projects), Prime Minister’s Employment Generation Program-based incentives (for Micro Projects) and Swabalamban, a State Government scheme (for Tiny Projects).
Capital Investment Subsidy (Fixed Capital Investment) at 30% with an upper ceiling of Rs 6 million and Thrust Sector incentive at 40% with an upper ceiling Rs 7 seven million, Procurement Preference at 15% on all Government tenders are also provided. Besides there is 100% exemption of Earnest Money and Security Deposits on tenders floated by the State Government Agencies. Full VAT and CST reimbursement for five years with upper ceiling of Rs 6 million per annum and Electricity Subsidy at 25% power charges (with an upper ceiling Rs. 1.2 million per annum) too are provided.
Facility for one-time full reimbursement of charges paid for securing standard certification in 10 specified areas is made available. Employment Cost Subsidy at 100% reimbursement of employer contribution is paid towards EPF & ESI schemes on employment of 20 or more persons for the Thrust Sector Industries. There is Export Promotion Subsidy at 10% of the value of goods exported to Bangladesh through the L.C. Stations to the Thrust Sector Industries (annual ceiling Rs2 million). Reimbursement of 50% of the travelling expenses and goods transportation cost incurred to participate in exhibitions is also be provided (upto Rs 50,000 per fare). Besides, there is full reimbursement of guarantee fees and service fees paid for CGTMSE coverage on loans sanctioned by Banks/ NBFCs.
Capital Investment Subsidy (Fixed Capital Investment) at 30% with an upper ceiling of Rs 6 million and Thrust Sector incentive at 40% with an upper ceiling Rs 7 seven million, Procurement Preference at 15% on all Government tenders are also provided. Besides there is 100% exemption of Earnest Money and Security Deposits on tenders floated by the State Government Agencies. Full VAT and CST reimbursement for five years with upper ceiling of Rs 6 million per annum and Electricity Subsidy at 25% power charges (with an upper ceiling Rs. 1.2 million per annum) too are provided.
Facility for one-time full reimbursement of charges paid for securing standard certification in 10 specified areas is made available. Employment Cost Subsidy at 100% reimbursement of employer contribution is paid towards EPF & ESI schemes on employment of 20 or more persons for the Thrust Sector Industries. There is Export Promotion Subsidy at 10% of the value of goods exported to Bangladesh through the L.C. Stations to the Thrust Sector Industries (annual ceiling Rs2 million). Reimbursement of 50% of the travelling expenses and goods transportation cost incurred to participate in exhibitions is also be provided (upto Rs 50,000 per fare). Besides, there is full reimbursement of guarantee fees and service fees paid for CGTMSE coverage on loans sanctioned by Banks/ NBFCs.
Older units get more benefits
Subsidy at 40% (for the Thrust Sector) and at 30% (for others) after five years up to Rs 3 million and Rs 2.5 million are given. Industrial Promotion Subsidy at 25% of VAT & CST is paid for a further period of five years. Power subsidy at 15% is provided for the next five years. Subsidy is available for a further five-year period at 50% of EPF & ESI contribution paid. Besides, subsidy at 20% of the wages paid on employment of minimum 20 persons (with an annual upper ceiling Rs 0.25 million), is made available. Subsidy payment period will be five years.
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