Guwahati, March 26: The Assam government on Wednesday distributed incentives to the tune of Rs 99 crore among 378 tea estates under four key components of the Assam Tea Industries Special Incentives Scheme (ATISIS).
The four key components of the scheme, aimed at encouraging the production of orthodox and high-quality specialty teas, comprise interest subvention of three percent per annum on working capital loan; Rs 10 per kg subsidy on orthodox or specialty tea production; subsidy of 25 percent of the cost of plant and machinery for orthodox and specialty tea units and agricultural income tax holiday for three years.
The ceremonial distribution of the incentives among the tea estates under the scheme was held at Janata Bhawan here.
The event was graced by the four state ministers, MLAs, senior government officers, besides representatives from the Tea Board of India, six tea associations of Assam and tea gardens.
“The state government is certain that the incentives under ATISIS will significantly benefit the tea industry, ensuring its sustainable growth and global competitiveness,” state minister of industries, commerce and public enterprises Bimal Borah, who attended the distribution ceremony, said.
Apart from boosting production of orthodox and specialty teas, the initiative by the state government is also aimed at ensuring long-term financial stability of the tea industry.
The Assam government has also undertaken several comprehensive measures to support the tea sector, including improvement of healthcare, education, and infrastructure in the tea garden areas.
Notably, Assam tea boasts a 200-year-old legacy and remains the backbone of the state’s economy. The state contributes over 50 percent of India’s total tea production, making it a crucial player in the country’s tea industry.