Tripura : Cabinet Approves 100 Crores For Promotion Of Agarwood Trade

 

Abhijit Nath, NET Correspondent, Tripura

Agartala, July 10, 2021: The Tripura Government has approved a project of Rs 100 crore to promote state’s agar wood business.

An initiative by the ‘Atmanirbhar Bharat’ and ‘Vocal for Local’, the promotion aims to build Tripura an economically rich state, incorporating a gross amount of Rs. 2000 crore within 2025.

Tripura CM, Biplab Kumar Deb has also received a green nod from the Union Ministry of Environment, Forest and Climate Change for its plantation.

On Friday July 9, while speaking with the media, state government spokesperson and Education minister, Ratanlal Nath asserted on the ‘Tripura Agarwood Policy 2021’. Currently, there are 54 lakh ‘Agar’ trees in the state. The cabinet further decided to plant more Agar trees in 4000 hectares by 2025 and creating another ‘Economic Revolution’ in Tripura after Rubber, Bamboo and other major forestry crops.

“In view to this policy, a project of Rs 100 crore has been approved for next five years. The funds were arranged from different sources. Steps are being initiated to legalize marketing of Agar woods and oil used as chips and at perfume industries, respectively in the gulf countries especially. The trading of ‘Agar Wood’ is a highly profitable business. Currently, Agar trees plantation is available in North Tripura district”, said Nath.

Nath further claimed that “Agar wood oil is also known as liquid gold. In the entire world, Tripura is having best soil for ‘Agar’ trees plantation. A kilo of ‘Agar’ oil costs Rs 5 lakh in global market. However, this liquid gold or ‘Agar wood oil’ is available in 10 to 15 percent of the entire trees. This Agar tree is also known as Aquilaria tree where an insect infects the tree to release oil. Now, the government is taking steps for artificial infection on these trees in next five years to bring an ‘economic revolution’ in Tripura”.

“Forest department to establish ‘Tripura Agarwood Board’ in October 2021 focusing governments attention to develop Agar sector, starting of Tripura Agar Trade Centre in January 2022, starting of testing laboratory as part of trade centre in January 2022,” – he stated.