Chairman and Managing Director, North East Development Finance Corporation Limited (NEDFi) J P Saikia said only feasible projects can help improve the industrial scenario in Tripura. He further said, it is the State, which has to develop a sense of security among potential entrepreneurs so as to develop industries in the State.

“The media in the North East has projected militancy more than it’s vast natural resources as a result of which the investors are not interested to invest in the State” he said, adding Tripura is also a victim of militancy.

However, Mr. Saikia hoped, things will show a sign of improvement in due course of time as happened in Assam and Meghalaya.”There are certain aspects which are lacking in this tiny landlocked state like the communication, power and markets. These facilities are a pre-requisite for major industrialisation to take place”, he said.

NEDFi chief expressed serious concern over the poor recovery rate of loans in the state, though he noted “Not only in Tripura, but in the entire North-East the recovery rate is not up to the mark mainly due to lack of appropriate projects”.

NEDFi has advanced Rs. 79.79 lakhs to six units in Tripura. The recovery has been pegged at a dismal Rs 13.25 lakh during 2001-02.

Mr. Saikia said, though the Credit Deposit Ratio (CDR) at the national level stands at around 59 percent, it can be raised up to at least 45 percent if viable projects come up in Tripura ensuing a healthy recovery rate as it was the case with Meghalaya and Assam.

“Only the small scale credits like government sponsored schemes like Swabalamban, PMGY, and SGSY would not serve the purpose,” according to him.

Asked about new projects in Tripura, Mr. Saikia said, apart from the gas based Duel Cycle project in Sonamura, two more projects, a cement factory and a steel factory worth around Rs 20 crore are in the pipeline. Two hundred more proposals are awaiting clearance, he added. Mr. Saikia said, NEDFi is keen to follow the footsteps of Bangladesh Grameen Bank by providing micro credits to the small investors and self-help groups. He informed that 24 Self-help groups had already been provided with micro credit.

North Eastern Development Finance Institution (NEDFi) and Department of Industries and Commerce, Government of Tripura, have signed an “Agreement of Lease” for the proposed IT Park by NEDFi on September 5.

The occasion marked the formal handing over of 4000 sq ft in the IT Directorate building at Indranagar for the IT Park, the second in the region after Guwahati.