Tripura CM urges tapping capital markets for self-reliance

way2barak, July 28 :  Tripura Chief Minister Manik Saha on Tuesday said the state must become an active participant in India’s financial growth story by building institutional capacity, promoting financial literacy, and encouraging entrepreneurs and public institutions to tap capital markets to create a financially self-reliant and prosperous Tripura.

Addressing the signing ceremony of a Memorandum of Understanding (MoU) between the National Stock Exchange (NSE) and three state government organisations here, the Chief Minister described the partnership as the beginning of a new chapter in the state’s journey towards inclusive economic growth.

The state government organisations and departments which signed the MoU with the NSE to boost entrepreneurship in the Northeastern state include the State Institute of Panchayat and Rural Development (SIPARD), the Directorate of Industries & Commerce, and the Directorate of Skill Development.

“Our engagement with the National Stock Exchange of India Limited, India’s largest financial exchange, represents a landmark step towards strengthening financial literacy, investor awareness, and securities market training for the youth of Tripura. I commend the collaborative spirit shown by SIPARD, the Directorate of Industries & Commerce, and the Directorate of Skill Development in joining hands with the National Stock Exchange of India,” Saha said.

He said the collaboration with one of the country’s premier financial institutions reflects Tripura’s readiness to embrace emerging economic opportunities and integrate more closely with India’s rapidly evolving financial ecosystem.

Highlighting the state’s economic progress, the Chief Minister said Tripura’s Gross State Domestic Product (GSDP) has doubled over the past six years, while the state’s per capita income has reached the national average.

“To further accelerate economic growth, the state government is committed to creating a vibrant ecosystem that promotes entrepreneurship, financial inclusion, skill development, investment, wider financial participation, and digital transformation,” he said.

Saha said it has become imperative to equip government officials, entrepreneurs, MSMEs, educational institutions, and young people with a better understanding of financial markets, investment opportunities, and capital formation.

Referring to Prime Minister Narendra Modi’s emphasis on financial inclusion, he said initiatives such as the Pradhan Mantri Jan Dhan Yojana and the expansion of digital payments have laid the foundation for greater public participation in the financial system.

“The stage is now set for our youth to enter the financial services sector. The National Stock Exchange today has an investor base of more than 13 crore, growing at nearly 26 per cent annually over the last five years. Thanks to the NSE’s efforts, India’s capital market is no longer confined to metropolitan cities,” he said.

The Chief Minister said banking, financial services, and insurance (BFSI), one of the country’s fastest-growing employment sectors, offers significant opportunities for Tripura’s youth, especially as India’s economy continues to be driven by its young workforce.

He said that under the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) 4.0, which focuses on future-ready skills, the NSE and the Directorate of Skill Development have jointly decided to design a curriculum covering capital markets, mutual funds, insurance, and investment advisory services.

“The NSE will bear the cost of the programme, while the state government will provide the training venues. This initiative will significantly enhance the employability of our students and youth in capital markets, mutual funds, and the broader financial services sector. Employment generates income, while financial skills help convert income into wealth,” Saha said.

He also announced that the state government has decided to establish a foreign language school in collaboration with the Ramakrishna Mission to equip Tripura’s youth with language skills that could enable them to explore employment opportunities in international financial markets and other overseas sectors.

The Chief Minister said the MoU between the NSE, SIPARD, and other organisations would facilitate the creation of a network of certified master trainers to spread investor education and financial awareness across the state.

The partnership between the Directorate of Industries & Commerce and the NSE, he added, would help local MSMEs, startups, and entrepreneurs gain better access to financial and capital market opportunities.

Describing Tripura as being on the threshold of an infrastructure and trade renaissance, Saha said enhanced cross-border connectivity with Bangladesh and various regional connectivity initiatives are opening new avenues for economic expansion.

He noted that Tripura has consistently performed well in business reforms, deregulation, and compliance reduction, creating a more investment-friendly environment.

“MSMEs are the backbone of Tripura’s economy, particularly in agro-processing, bamboo, handloom, rubber, and other traditional sectors. However, access to credit remains a major challenge. The time has come for capital to flow from cities to towns and from towns to villages. It is time for Tripura to become an active participant in India’s financial growth story. By building capacity, educating entrepreneurs, and encouraging public institutions to access capital markets, we can build a financially self-reliant and prosperous Tripura,” he said.

Industries & Commerce Minister Santana Chakma, Chief Secretary J.K. Sinha, Secretaries Kiran Gitte and Apurba Roy, SIPARD Director Ankit Sharma, NSE Chief Regulatory Officer Kishan Iyer, the NSE’s Senior Vice President (Business Development), representatives of financial institutions, and senior government officials were present at the programme.