Tripura Chief Minister Prof. Dr Manik Saha on Tuesday said that 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 tap into capital markets so that the state can build a financially self-reliant and prosperous Tripura.
Dr Saha said this while addressing the signing of an MoU between the National Stock Exchange (NSE) and SIPARD, the Directorate of Industries & Commerce, and the Directorate of Skill Development at Pragna Bhavan, Agartala.
He said that the state is now opening a new chapter in Tripura's journey towards inclusive economic growth.
"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 would like to 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," he said.
He said that this collaboration with a reputed national financial institution indicates Tripura's readiness to embrace new economic opportunities.
"Today's economy is growing at a rapid pace. Over the last few years, we have doubled the state's Gross Domestic Product within six years. Tripura's per capita income is now at par with the national average. To further accelerate economic growth, the state government is committed to fostering a vibrant economic ecosystem for entrepreneurship, financial inclusion, skill development, investment promotion, greater financial participation, and digital transformation," said Dr Saha.
Dr Saha said that it has become imperative to equip government officials, youth, entrepreneurs, MSMEs, and educational institutions with greater knowledge of financial markets and investment opportunities.
"Our Prime Minister Narendra Modi has time and again stressed the importance of financial literacy, starting with the Pradhan Mantri Jan Dhan Yojana and digital payments. Now the stage is set for youth to enter the arena of financial services. The National Stock Exchange has an investor base of more than 13 crore, which has been growing at 26% annually over the last five years. Due to the efforts of the National Stock Exchange, India's capital market is no longer limited to metropolitan cities," he said.
He also said that banking, financial services, and insurance, one of the fastest-growing employment sectors in the country, is now a frontier for skill development for the youth of Tripura. India's economy is driven by the younger generation.
"Pradhan Mantri Kaushal Vikas Yojana 4.0 has emphasised future skills, including financial services. Therefore, the National Stock Exchange and the Directorate of Skill Development have decided to jointly design a curriculum covering capital markets, mutual funds, insurance, and investment advisory. While the NSE will bear the programme cost, the state government will provide venues for the skill training only. It will enhance the employability of students and youth in capital markets, mutual funds, and the broader financial services sector. Employment creates income, and financial skills convert income into wealth. We have also decided to establish a foreign language school in collaboration with the Ramakrishna Mission so that our youth can potentially work in the capital markets of foreign countries as well," he said.
Dr Saha said that through the MoU with NSE and SIPARD, a network of certified master trainers will be established to spread investor education across the state. The partnership between the Directorate of Industries & Commerce and the NSE will empower local MSMEs, startups, and entrepreneurs to access financial and capital market opportunities.
"Tripura is on the cusp of an infrastructure and trade renaissance, fuelled by enhanced cross-border connectivity with Bangladesh and strategic regional initiatives. Tripura has consistently performed well in business reforms as well as in deregulation and compliance reduction exercises. MSMEs are the backbone of Tripura's local economy, especially in agro-processing, handloom, bamboo, crops, and rubber manufacturing, yet credit access remains a significant bottleneck. The time has come for the flow of capital 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 tap into capital markets, we can build a financially self-reliant and prosperous Tripura," he said.
Minister Santana Chakma, Chief Secretary Jitendra Kumar Sinha, Secretaries Kiran Gitte and Apurba Roy, Director of SIPARD Ankit Sharma, Chief Regulatory Officer of NSE Kishan Iyer, Senior Vice President (Business Development) of NSE, and representatives from financial institutions and senior officers were present.