rubber in the country. The state is known for its handicraft, particularly hand-woven cotton fabric, wood carvings, and bamboo products. High quality timber including sal, garjan, teak and gamar are found abundantly in the forests of Tripura. Tata Trusts signed a pact with Government of Tripura in July 2015 to improve fisheries and dairy in the state. The industrial sector of the state continues to be highly underdeveloped – brickfields and tea industry are the only two organised sectors. Tripura has considerable reservoirs of natural gas. According to estimates by Oil and Natural Gas Corporation (ONGC), the state has 400 billion metres3 reserves of natural gas, with 16 billion metres3 is recoverable. ONGC produced 480 million metres3 natural gas in the state, in 2006–07. In 2011 and 2013, new large discoveries of natural gas were announced by ONGC. Tourism industry in the state is growing – the revenue earned in tourism sector crossed for the first time in 2009–10, and surpassed in 2010–11. Although Bangladesh is in a trade deficit with India, its export to Tripura is significantly more than import from the state; a report in the newspaper The Hindu estimated Bangladesh exported commodities valued at about to the state in 2012, as opposed to "very small quantity" of import. Alongside legal international trade, unofficial and informal cross-border trade is rampant. In a research paper published by the Institute of Developing Economies in 2004, the dependence of Tripura's economy on that of Bangladesh was emphasised. The economy of Tripura can be characterised by the high rate of poverty, low capital formation, inadequate infrastructure facilities, geographical isolation and communication bottlenecks, inadequate exploration and use of forest and mineral resources, slow industrialisation and high unemployment. More than 50% of the population depends on agriculture for sustaining their livelihood. However agriculture and allied activities contribution to Gross State Domestic Production (GSDP) is only 23%, this is primarily because of low capital base in the sector. Despite the inherent limitation and constraints coupled with severe resource shortages for investing in basic infrastructure, this has brought consistency progress in the quality of life and income of people cutting across all sections of society. The state government through its Tripura Industrial Policy and Tripura Industrial Incentives Scheme, 2012, has offered heavy subsidies in capital investment and transport, preferences in government procurement, waivers in tender processes and fees, yet the impact has not been much significant