Odisha one of fastest-growing states in India: Minister Pratap Keshari Deb

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Bhubaneswar (File photo)

Bhubaneswar: Industries Minister Pratap Keshari Deb said on Thursday that Odisha is one of the fastest-growing economies in India as it became a "destination of choice" for businesses in the metal and allied sectors due to natural resources.

Deb underlined that the government took proactive measures to broaden industrial ecosystem in the state with focus sectors like chemicals and petrochemicals, textiles and apparel.

He pointed out that the manufacturing sector grew by 14.3 per cent in the 2021-22 financial year, while the mining segment registered a growth of 18.1 per cent.

"The state has grown by 10.1 per cent (last fiscal), making it one of the fastest-growing economies in India," Deb said at an event in Bhubaneswar where the government signed a memorandum of understanding with the Federation of Indian Chambers of Commerce and Industry.

"Odisha has 96 per cent of India's chromite reserves, 92 per cent nickel, 53 per cent bauxite, 45 per cent manganese, 35 per cent iron ore and 23 per cent coal reserves. This has made Odisha the largest producer of steel, stainless steel, ferro alloys, alumina and aluminium in the country," Deb said.

The Industrial Promotion and Investment Corporation of Odisha signed the agreement with the Ficci, allowing the business association the industry partner for the Make in Odisha Conclave scheduled to be held from November 30 to December 4.

Deb said the first such event in 2016 received over Rs 2 lakh crore of investment proposals and the second edition got over Rs 4 lakh crore.

"The goal of this year's conclave is to surpass all the expectations and more importantly, to firmly put Odisha on the global map," he added.