The Centre has given in-principle approval for setting up of Tripura's first-ever SEZ at Sabroom,. The estimated investment in the project will be around Rs 1550 Crore.In an official communique state government stated, “A proposal for setting up of the Agro Based (Broad Banded) Special Economic Zone (SEZ) at Paschim Jalefa, Sabroom was submitted to the Development Commissioner, Falta SEZ in June, 2019. The Developer of the SEZ was decided to be Tripura Industrial Development Corporation (TIDC) Ltd.The proposal involves estimated investment of Rs. 1550 crores and generates estimated employment to the tune of 12000.“Rubber based Industries – Tyres, Threads etc, Textile and Apparel Industries, Bamboo Industries and Agri-Food Processing Industries are the industries which will be set up.”The state government informed that as per SEZ rules for sector specific SEZ, minimum land requirement for the North East States including Tripura is 25 Hectares. Presently, the land at Paschim Jalefa is having an area of 16.35 hectares and initiative has been taken for acquirement of additional land of 10.99hectares adjacent and contiguous to the existing land.Chief minister Biplab Kumar Deb attended the 92nd meeting of the Board of Approval (BoA) held in the Ministry of Commerce, Government of India in New Delhi, the submitted proposal was taken up and the Board has given in-principle approval to the proposal for setting up of SEZ at Sabroom, South Tripura.According to state government setting up of the SEZ at Sabroom would open new avenues and attract private sector investment considering proximity of the Chittagong Port which is located relatively closer to the State and construction of the bridge across Feni River in South Tripura which is underway.The SEZ will have Duty free import/domestic procurement of goods for development, operation and maintenance of SEZ units, 100% Income Tax exemption on export income for SEZ units under Section 10AA ofthe Income Tax Act for first 5 years, 50% for next 5 years thereafter and 50% of the ploughed back export profit for next 5 years. (Sunset Clause for Units will become effective from 01.04.2020)Deb tweeted, “It is immense pleasure to share the Good news with all on holy Sashthi. Department of Commerce (SEZ), Ministry of Commerce & Industry has given approval in-principle for setting up of SEZ at Sabroom, Tripura”.