Odisha aims to attract over Rs. 4 Lakh-cr investments

Odisha government gives incentives to the industries timely, transparently and progressively. The State is willing to give extra incentives than any other State. If a State is offering 'X' as incentive, Odisha will give 'X+'

Hyderabad: After two successful investment conclaves in the preceding years, Odisha government has geared up to host its third Make in Odisha Conclave (MIO '22) in Bhubaneswar from 30th November to 4th December 2022. Chief Minister Naveen Patnaik invited the investors from Maharashtra, Karnataka, Andhra Pradesh and Telangana to witness their State's growth story in the coming 10 years.

He actively participated in the roadshows organised at Mumbai, Bengaluru, and Hyderabad to meet several delegates. In Hyderabad, he met heads and senior functionaries of 21 industries from various sectors including IT, pharmaceuticals, food processing, energy, real estate, cement, healthcare, and logistics. He asked them to invest in Odisha and partner in the new industrial age of the State."Our State is progressing faster than ever on the back of abundant natural resources, skilled human resources and stable governance. It is emerging as a leading destination for industries and investment. Our government is also providing continuous support to the startup ecosystem. MIO is a platform to present what the State has to offer to investors from across the globe," Patnaik said.

Speaking to Bizz Buzz, Pratap Keshari Deb, Minister - Industries, MSME & Energy, Government of Odisha, said, "The State has received over 120 investment intents valued at Rs 2 lakh crore during the first edition of the MIO in 2016. The second edition of the event raised the bar even higher, receiving intents of investment worth Rs 4 lakh crore. Over 60 per cent of the committed projects are grounded so far."

He further said, "Post Covid, the State is conducting the third edition this year. We are anticipating investment commitments of more than Rs 4 lakh crore during MIO '22 beating the record of previous editions. Through this conclave, we want to build new relationships and strengthen our old relationships with the investor community. We want them to be a partner in Odisha's phenomenal growth story."

Hemant Sharma, Principal Secretary, Industries Department, Skill Development & Technical Education, Government of Odisha, said that the State has been accorded the 'achiever' status in the recently released 'Ease of Doing Business' ratings. He also explained about the advantages of GO SWIFT (Government of Odisha – Single Window for Investor Facilitation and Tracking).

"Odisha is a mineral rich State having huge reserves of coal, iron, bauxite, manganese, chromite and nickel. It has dominance in metal manufacturing. It is the largest producer of iron, steel and aluminum. The State is also highly competitive in terms of cost of doing business with the availability of skilled workforce. There are 197 engineering colleges and 1.7 lakh graduates are ready for jobs," he added.

Sharma informed that Odisha government gives incentives to the industries very transparently and progressively. He said, "Till date, we have timely delivered whatever perks announced by the government. Nothing is pending. Moreover, our State is willing to give extra incentives than any other State. If a State is offering 'X' as incentive, Odisha will give 'X+' for sure."