Odisha govt invites industries to explore investment opportunities in state

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Odisha govt invites industries to explore investment opportunities in state

Mumbai: The Odisha government has urged businesses to explore investment opportunities in the state and assured them attractive incentives, infrastructure and a competitive cost of doing business.

While addressing the Odisha Investors' Meet on Wednesday evening, Chief Minister Naveen Patnaik urged industries to explore investment opportunities in the state during “The Make in Odisha Conclave 22' that will be held in Bhubaneswar from November 30 to December 4.

"Odisha is one of the fastest growing economies in India and has consistently grown above the national average in the last decade and a half. Over the last 20 years, my government has focused on leveraging the natural advantages in the state through progressive policy, efficient administration and technological interventions," Patnaik said.

During a presentation, Odisha Principal Secretary, Industries, Hemant Sharma said Odisha's position in the ease of doing business (EoDB) ranking, competitive cost of doing business, the impact of investment facilitation, best-in-class incentives and highly skilled human resources, gives the state a distinct competitive advantage over others.

The markets in Eastern and North-Eastern India are growing at a faster rate than other parts of the country and Odisha provides industries with the best facilities to set up units to cater to these markets, he added.

He said Odisha has earmarked metal alloys, downstream and ancillary, agri, food and sea-food processing, tourism and hospitality, handicraft, handloom and coir-based products as priority sectors while auto and auto components, pharmaceuticals and medical equipment, apparel, Electronics System Design and Manufacturing (ESDM) and datacenters are the thrust sectors.

"We will provide incentives over and above offered by other states on the thrust sectors including capital investment subsidy, power tariff reimbursement, land among others," he added.

The state had received Rs 2 lakh crore during 2016 Conclave and Rs 4 lakh crore during the 2018 Conclave, he said adding that from 2016-2022 Odisha's investment intent to conversion rate is among the highest at 62 per cent.

Meanwhile, state Industries, MSME and Energy minister Pratap Keshari Deb said Odisha's industrial growth in the last two decades has been focused on developing a highly skilled workforce.

"With nearly 200 engineering colleges and 1,000 ITIs, we are creating the most skilled workforce in the country. We have recently established a first of its kind, World Skill Centre (WSC), a premier advanced skill training institute," Deb said.

In order to fully realize the potential of the youth and entrepreneurs in the state, The state government has started Start-Up Odisha, he added.