Tripura tea sector expecting Rs 726 crore investments in investment summit

The tea sector of Tripura is expecting a whooping investment worth Rs 726 crore as several industry leading private entities have expressed their interest to invest in the state’s century old industry, Tripura Tea Development Corporation (TTDC) Chairman Samir Ranjan Ghosh told media persons. 

Briefing the media persons at his office, Ghosh described the development as a ‘historic’ feat for the tea industry of the state. 

“For a prolonged period the tea industry has been neglected. Due to the intensive efforts of the state government to revive this industry, we are witnessing such impressive results. Officially the MoUs will be signed and exchanged during the business conclave to be organised on July 09 and 10. We are expecting to create 4,000 new job opportunities through these investments,” said Ghosh.   

According to Ghosh, this is the largest such investment in Tripura's tea industry.

A press statement issued by the TTDC said that the proposed investors consisted of Monoworld Recycling Private Limited, Itibachak Barta Foundation, Infidirect Tech Solutions Private Limited and NDR Infrastructure Private Limited.

Among the investors, NDR Infrastructure Private Limited has shown interest to invest Rs 500 crore for developing integrated world-class tea estates, MSME units, tea value addition and an export facilitation hub. Monoworld Recycling Private Limited is interested to invest Rs 100 crore for tea industry development. Itibachak Barta Foundation wants to invest Rs 100 crore for different aspects of the industry which include tea garden and factory modernisation, small tea grower cluster development, research, skill development, digital technology adoption, branding, marketing and tea tourism.  Infidirect Tech Solutions Private Limited will invest Rs 26 crore for operating TTDC tea estates on lease/PPP basis and setting up blending and packaging units, the press statement added. 

On being asked about the proposed tea auction centre, Ghosh said, “The logistical preparations for making the auction centre operational has been completed. We have created office premises, go-downs and other facilities to make the auction centre operational. The buyers who are willing to participate in the auctioning of tea have requested the state government for a transport subsidy. The government is considering the matter very positively. I hope the matter will be sorted out and the auction centre will be made operational without any hassle.” 

According to Ghosh, tea from Tripura is primarily sold through auction centers located at Assam and West Bengal. “We have two meetings planned with the buyers in Assam and West Bengal. In those meetings, the future course of action related to the auction centre shall be decided,” said Ghosh. 

To a question,. Ghosh replied: “The total number of tea garden workers in Tripura stands at around 20,000. They are working in lieu of a daily wage of Rs 204 which had been revised on multiple occasions after the formation of BJP-led government in the state. Before 2018, the standard wage was Rs 105.”