Since May 2003, a project that aims to bring economic development by using bamboo has been operational. The project aims to utilize the bamboo resources of the state for economic growth, employment generation, livelihood creation and environmental protection within a cash economic framework. The project is being implemented by the Tripura Bamboo and Cane Development Centre or TRIBAC, which is supported by CIBART. In order to implement the project, TRIBAC has been set up as an autonomous non-profit company under the Company's Act. To get the project moving TRIBAC has adopted a community-based industrial approach that is market driven.

In Tripura, there is a very high acceptance of the use of bamboo in housing. As a result, the state's people are naturally skilled in building with bamboo. The strategy is to turn the Indira Awas Yojana (IAY) housing activity into a cash economy that meets poverty alleviation objectives and employment/livelihood generation by integrating it with the Swarnjayanti Gram Swarozgaar Yojana (SGSY) programme. The IAY is a Government of India programme that addresses the issue of rural housing.

TRIBAC has undertaken several activities. With its office setup in Agartala TRIBAC today has a strong presence in the State with its dedicated workforce. TRIBAC has already started functioning in business mode. Some 40 tonnes of Muli (Melocanna baccifera) seeds were supplied to the Government of Uttaranchal.