By Sandeep Pattnaik
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Bhubaneswar, 1 December 2015: With a stable Government and leadership, Odisha is one of the fastest growing economies in India. Availability of abundant mineral resources makes it a most sought after State for industrialization in the country, according to experts.
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Dignitaries have shared their thoughts at the 20th edition of CII Enterprise Odisha, a four-day mega industrial exhibition organised by the Confederation of Indian Industry in association with the Government of Odisha, on the IDCO Exhibition Ground here.
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Mineral production has reached USD 3.64 billion, which is more than the aggregate value of 21 other Indian states. About 98% of Chromite, 56% of Bauxite and 33% of Iron ore deposits in India are available here, paving the way for large industries to set up their plants here.
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At the same time, for speedy approval of various upcoming projects, the State has put in place single window clearance system. Odisha is the state to frame one of the first legislations for single window clearance system, as Orissa Industries (facilitation) Act, 2004. Robust industrial infrastructure ecosystem – 3 Investment Regions, 10 sector-specific cluster parks, 118 industrial estates has added feather to its cap.
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The state has also a vast land bank of around 75,000 acres meant for industrial use. Also availability of industry-fit skilled manpower (1,26,000 p.a according to a report) has undoubtedly given it an edge over other states.
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Coming to the policy front, Odisha Government has formulated industry-friendly policies which has provided conducive environment for industries to grow and made the state “a destination of choice” for industrial enterprises. The state has gradually been up-the-curve when it comes to “Ease of doing business”.
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IPR 2015 has provided much impetus for infrastructure development projects. An exclusive Industrial Infrastructure Development Fund with an initial corpus of Rs 100 crore has been earmarked for development of quality infrastructure under IPR 2015. Adding to this, SEZ policy has been made separately to provide fiscal and non-fiscal incentives to industries.
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Vital policies like ICT policy, 2014 (to develop IT/ITES/Electronic Manufacturing) in Odisha has been put in place by the State Government. Besides, Special initiative package scheme for ESDM sector, Odisha Food Processing Policy 2013, MSME Development Policy 2009 and Odisha Tourism Policy 2013 are indeed going to promote odisha as ‘one-stop destination’ for investment.
