Major Indian Corporations To Invest Rs 1600 Crore In Tripura’s Booming Agar Sector

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Posted in Featured, Northeast, Tripura
Abhijit Nath, NET Correspondent, Tripura

Agartala, August 26, 2023: Renowned Indian conglomerates with a global footprint, including Imami, Patanjali, and Dabur, have pledged substantial investments amounting to Rs 1,600 crore into the burgeoning Agar sector of Tripura. This exciting development comes as the state’s lush Agarwood resources have captured the attention of these industry giants.

The North Tripura district, home to a substantial population of Agar trees, is poised to become a focal point for this ambitious venture. Recently, a delegation of 40 investors embarked on a field visit to witness the Agar plantations in North Tripura and Unakoti district. They were accompanied by Pravin Agarwal, Director of the North Eastern Council (NEC), who provided valuable insights into the local Agarwood-based product manufacturing.

During their visit, the investors were introduced to a variety of Agarwood-derived materials, including Agarwood, chips, and oil, which are in high demand globally. The delegation also explored incense stick manufacturing units in Kumarghat.

Agarwood, considered one of Tripura’s most valuable natural resources, holds immense potential in the global market. To tap into this potential, the state has set its sights on creating a robust Rs 2,000 crore economy centered around Agarwood-based products, complete with an Agarwood policy.

The visiting agencies are well-equipped with modern machinery and laboratories, and Patanjali Group is particularly enthusiastic about establishing manufacturing units at the grassroots level. Dr. Bidipa Aria and Dr. Sandeep Kumar from Patanjali expressed their commitment to the Agarwood trade in the state.

In a significant boost, the World Bank has also stepped in to provide financial support for the development of the Agarwood-based industry in North Tripura district. This influx of investment and expertise promises to not only bolster Tripura’s economy but also elevate its position in the global Agarwood market.

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