Tripura to actively contribute to India's financial growth
AGARTALA: Tripura Chief Minister Dr Manik Saha asserted the need for Tripura to actively contribute to India's financial growth by enhancing capacity, educating entrepreneurs and promoting public institutions' engagement with capital markets. He made this statement during a Memorandum of Understanding (MoU) signing between the National Stock Exchange (NSE) and various government departments at Pragna Bhavan in Agartala Tuesday marking a significant step towards inclusive economic growth in the state.
Dr Saha praised the collaboration with NSE, indicating Tripura's readiness to embrace new economic opportunities. He highlighted the recent doubling of the state's Gross Domestic Product over six years and a per capita income that aligns with the national average. To sustain this growth, the government aims to foster an entrepreneurial ecosystem, enhance financial inclusion, promote investment and accelerate digital transformation.
The Chief Minister underscored the necessity of equipping government officials, youth, entrepreneurs, and educational institutions with knowledge of financial markets. He referenced Prime Minister Narendra Modi's emphasis on financial literacy initiatives, asserting that youth must be prepared to enter the financial services sector. With an investor base of over 13 crore in India, growing at a rate of 26% annually, the NSE is central to broadening financial participation beyond metropolitan areas.
Dr Saha pointed out that the banking, financial services, and insurance sectors are rapidly growing employment domains. In alignment with the Pradhan Mantri Kaushal Vikas Yojana 4.0, the NSE and Directorate of Skill Development plan to co-create a curriculum on capital markets, mutual funds, insurance, and investment advisory, with NSE covering costs and the state government providing training venues. This initiative aims to enhance employability in the financial services sector and convert income into wealth.
Moreover, he mentioned plans to establish a foreign language school in collaboration with the Ramakrishna Mission, opening avenues for youth to work in international capital markets. Through the MoU with NSE and SIPARD, a network of certified master trainers will be activated to enhance investor education statewide. This partnership seeks to empower local MSMEs, startups, and entrepreneurs, enabling them to access financial and capital market opportunities. Dr. Saha concluded by noting that Tripura stands at the brink of a new infrastructure and trade era, bolstered by improved cross-border connectivity with Bangladesh.