Ahmedabad: In the run up to the Make in Odisha Conclave 2018, state government today organized an investment promotion roadshow in Ahmedabad to showcase the inherent advantages of investing in Odisha.
A panel discussion on competitive advantages of Odisha as an investment destination was also organized which was moderated by Maheswar Sahu, IAS (retd.), Government of Gujarat. The panel discussion was participated by Minister of Finance and Excise, Government of Odisha, Shashi Bhusan Behera, Principal Secretary, Industries, Government of Odisha, Sanjeev Chopra along with representatives from Adani Group, Welspun Group and Manpasand Beverages Ltd.
The delegation from the Government of Odisha discussed the recently launched single window clearance portal for investors called GOSWIFT, the low cost of doing business in the state, dedicated sector-specific clusters and 1,00,000 acres of land bank available for industrial development. The delegation also formally invited Gujarat-based industrialists to participate in Make in Odisha 2018, the flagship biennial investors’ summit of Odisha, scheduled to be organized in Bhubaneswar from November 11 to 15.
The roadshow witnessed encouraging response with over 100 leading Gujarat-based industrialists meeting the delegation and exploring attractive growth opportunities in Odisha’s focus sectors.
Leader of the delegation Shashi Bhusan Behera said, “Owing to the proactive and progressive governance under the leadership of our Chief Minister Naveen Patnaik, Odisha is fast emerging as the manufacturing hub of Eastern India. 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 working tirelessly towards diversifying and broadening the state’s industrial development across the focus sectors. We invite Gujarati industrialists and entrepreneurs to explore growth opportunities in Odisha and invest in the state.”
During the meetings, investors were informed about the key differentiating factors that make Odisha a unique destination for investment. The state has stable government for more than 17 years, 480 km coastline with deep water ports at Paradip and Dhamra, with combined capacities expected to reach over 400 MMTPA by 2020. Odisha is the largest producer of steel, stainless steel and aluminium in India. The state is emerging as the ‘Education Hub of the East’, with presence of premier institutions such as IIT, IIM, AIIMS, NIT, XIMB etc. and more than 100,000 technical and skilled personnel graduating every year from the state. One of the lowest costs of doing business in terms of power tariff, labour wage rates, cost of living, cost of industrial land etc. Bhubaneswar, the capital city, ranked 1st amongst 97 cities in India in the Smart City Challenge of the Government of India.
Speaking at Investors’ Meet, Sanjeev Chopra, Principal Secretary, Industries Department, Government of Odisha said, “We are pleased to receive such warm welcome from the vibrant business community of Gujarat. Odisha’s business friendly policies and the development of world-class infrastructure have received very positive feedback from investors across the country as we have been able to create an ideal business ecosystem for various sectors to flourish in the state. Over the last 3 years, the State Government has embarked upon the implementation of a Business Reforms Program to make it easier for companies to set up and operate in the state following which Odisha has been recognized as a ‘Leader’ in terms of implementation of business reforms with 92.73% score in the Ease of Doing Business Report of 2016.”
The state government is also giving early bird discount to investors on land cost (Rs 10 lakh per acre), to set up units in the state of the art Angul Aluminium Park, while state-run Nalco is giving a discount of Rs. 5,000 per tonne on aluminium ingots and Rs. 4,000 per tonne on molten metal to downstream industries, an official said.
Notably, Odisha has registered a GSDP growth rate of 7.94 percent in 2016-17, surpassing the national growth rate of 7.1 percent. The state government has set a target of generating employment for 30 lakh citizens by attracting investments worth Rs. 2.5 lakh crore in focus sectors. Notably, of the 124 investment intents received during the investors’ meets organized last year at Mumbai, Bengaluru and in the Make in Odisha Conclave 2016, the state government received and approved firm proposals for 76 projects worth Rs. 2.02 lakh crore.
Worth mentioning, the state also plans to reach out to potential investors with roadshows in Germany, US, China, Japan and South Korea, as well as several Indian cities including Delhi, Bangalore, Chennai, Vizag and Coimbatore, ahead of the biennial ‘Make in Odisha’ conclave.