Since last decade or so Taranagar has been emerging as a place counted in its vicinity of its surrounding villages — for providing facilities for children's education, selling their produce, shopping, trade, institutional interaction, etc. Besides the Main Bazar that is in the center of town, there are a number of shop-clusters or markets specializing in merchandise like footwear, vegetables and fruits, medicines etc. There are some trading firms, bank branches, organizations, government offices. Almost a dozen institutions impart graduate courses including an upcoming veterinary medical college providing the feel of a self-sufficient town. Taranagar boasts an industrial estate promoted by RIICO primarily for the manufacture of plaster of Paris.