Home BIG STORY ‘2018 a seminal year in the history of Odisha’s industrialization’

‘2018 a seminal year in the history of Odisha’s industrialization’

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Bhubaneswar: The year gone by has been quite significant from Odisha’s industrialization perspective. The following were the key developments that positioned Odisha as the “Manufacturing Hub of the East”. The State has been ranked number 1 in terms of investment implementation rate and amongst the top 3 States in terms of live manufacturing investments in India.

Make in Odisha Conclave 2018: The flagship biennial flagship investors’ meet of the State was organized in Bhubaneswar in November this year and was overwhelmingly successful by every measure. The conclave has been a watershed moment in Odisha’s industrialization journey as 183 investment intents were received in the lead up to and during the Conclave. The cumulative investment intent was to the tune of INR 4,19,574 crore across 15 diversified sectors which shall create  5,91,000 additional jobs.The conclave saw tremendous response with 5,074 industry captains and delegates from India and abroad participating in the event. Over 31,000 people visited the largest-ever industrial expo set up by the State. Japan was the Partner Country for the conclave. Hon’ble Chief Minister of Odisha Shri Naveen Patnaik has set the implementation target at 75% over the next two years for the investment intents received at Make in Odisha Conclave 2018.

Grounding of industrial projects: The Government of Odisha has demonstrated strong commitment to deliver projects on ground, which is reflected in the fact that out of the investment intents received during Make in Odisha Conclave 2016, close to 65% projects are in various stages of approval and implementation. In the past 12 months alone, 3 groundbreaking-cum-inauguration ceremonies were conducted this year flagging off construction or operations of 64 projects across the State. This led to creation of employment opportunities for more than 30,000 youths in the State.

CM’s roadshows: Chief Minister Naveen Patnaik met the who’s who of    India Inc. in a series of roadshows in Mumbai, Delhi and Chennai and invited them to come and invest in Odisha. Due to the CM’s guidance, stable political environment, availability of land, skilled manpower and significant ease of doing business, the response from investors across the country has been overwhelming.

 Success in broad-basing industrialisation :  With the objective of attracting 2.5 lakh crore of fresh investments and generating 30 lakh job opportunities as part of CM Naveen Patnaik’s Vision – 2025, the Government of Odisha is diversifying and broad-basing the state’s industrial development across 6 focus sectors. The Make in Odisha Conclave will further the vision of the state to broad base the industrial growth with a slew of investment proposals in sectors such as Chemicals and Fertilizers, Petrochemicals, Food Processing, Healthcare, Tourism, Renewable Energy and Electronics which will create new employment opportunities for the skilled youth of the state. The majority of investment intents have been received for setting up new projects in non-mineral sectors which is a reflection of the tremendous opportunities Odisha provides across the focus sectors and validates the efficacy of investment promotion efforts by the State Government.

 GO-SWIFT receiving 500th investment proposal:  Within a short span of one year, GO-SWIFT has received the 500th investment proposal. Due to significant ease of application and expeditious approval process, there has been a considerable increase in the number of investors wanting to set up their units in Odisha. The Make in Odisha Conclave 2018 has given further impetus to the flow of investment proposals. The State continues to raise the bar for ease of doing business and are focused on speedy implementation of projects on ground.

Commenting on the achievements, Sanjeev Chopra, Principal Secretary, Industries Department, Government of Odisha said“2018 has been a seminal year for Odisha’s industrialization. With relentless focus on improving ease of doing business and a focused investment promotion strategy, the Make in Odisha Conclave 2018 was a success. In the coming year, the focus continues to be on speedy implementation of industrial projects on the ground. In the next 30 days, one-third of the 183 investment intents received in the lead up to and during the Conclave will be accorded Single Window approval. The State Government is committed to create tens of thousands of jobs in the coming year for the youth of Odisha.” 

Odisha has registered a GSDP growth rate of 7.94 percent in FY 2016-17, surpassing the national growth rate of 7.1 percent.