Tripura's Agarwood Economy Surges with Revised Export Limits

Tripura's Chief Minister Manik Saha expressed gratitude to PM Modi and Union Minister Piyush Goyal for revising export limits on agarwood products. This revision by the commerce ministry simplifies the process and significantly boosts Tripura's agarwood trade, aiming for a Rs 2,000 crore market in a few years.

Tripura Chief Minister Manik Saha has praised Prime Minister Narendra Modi and Union Commerce Minister Piyush Goyal for their pivotal role in revising export limits on agarwood chip, powder, and oil trades. These changes represent a massive opportunity for the state's burgeoning agarwood industry.

As announced on January 20, the Ministry of Commerce has simplified the export procedures and increased the allowable quantities for agarwood products derived from artificially propagated sources. Saha, in a Facebook post, emphasized the substantial impacts on Tripura's future development.

The policy shift, hailed as a 'revolutionary step' by Saha, particularly affects North Tripura and Unakoti districts, which house 1.50 crore agar trees. Prasada Rao from the Non-Timber Forest Products Centre noted the reduction in export clearance timelines, setting ambitious trade goals for the state.

(With inputs from agencies.)