Agartala, Jan 24 (NationPress) The Union Minister for the Development of North Eastern Region (DoNER), Jyotiraditya Scindia, announced on Saturday that the government has set a highly ambitious goal to elevate Tripura’s annual agarwood industry turnover from the current Rs 100 crore to Rs 2,000 crore. This initiative highlights the sector’s vast potential for stimulating economic growth, creating employment opportunities, and boosting exports within the state.

Speaking at the foundation stone-laying ceremony of an Agarwood Cluster Common Processing Centre located in Uttar Fulbari village of Kadamtala, North Tripura district, Scindia emphasized that these processing centers will prioritize the quality assurance of agarwood products, mainly focusing on fragrance and flavor.

He also stated that a second processing center will be established in Golaghat, Assam, with the combined investment for both facilities amounting to Rs 80 crore.

To ensure proper traceability of agarwood plantations, the minister revealed that the government will soon initiate the registration process for a Geographical Indication (GI) tag.

Scindia pointed out that the government is taking significant measures to remove intermediaries, which will ultimately allow farmers to reap direct financial benefits.

Describing agarwood as “liquid gold,” he noted that one gram of agarwood is valued higher than both gold and silver.

The minister disclosed that the export quota has been increased six-fold, increasing the export capacity of agarwood oil from 1,500 kg to 7,500 kg.

During his second day of a three-day visit to Tripura, the Union Minister toured the agarwood-cultivating village of Uttar Fulbari and engaged with local residents.

Earlier, Tripura Chief Minister Manik Saha stated that the state government is establishing an integrated agarwood cluster at an investment of Rs 27.42 crore under the Prime Minister’s Development Initiative for North East Region (PM-DevINE). This initiative aims to fortify the state’s agarwood economy and generate substantial employment.

The Chief Minister mentioned that the proposed cluster will feature facilities for nurseries, plantations, distillation units, and skill development training for individuals involved in the agarwood sector.

Once operational, this project is projected to benefit over 7,000 individuals, particularly focusing on women and youth.

CM Saha highlighted that approximately 96 percent of India’s agar trees are situated in the Northeastern states, with Tripura being identified as the country’s second-largest agarwood producer, hosting around 1.5 crore agar trees.

He also informed that the construction of an agarwood market at Kadamtala is nearing completion, enabling direct trading between buyers and sellers.

Additionally, an International Agar Trade and Research Centre, developed with Rs 15 crore funding from the North Eastern Council (NEC), is set to become a center for research and trade.

CM Saha added that the Tripura Agarwood Policy was introduced in 2021 to foster large-scale cultivation and processing, anticipating that the agarwood economy will escalate to Rs 2,000 crore within the next four to five years.

The state is also promoting the production of perfumes, premium incense sticks, agar-based spices, and various value-added products to expand domestic trade.