Home ECONOMY Odisha to hold road shows in Israel, Britain to invite foreign investments

Odisha to hold road shows in Israel, Britain to invite foreign investments


Odisha Sun Times Bureau
Bhubaneswar, Jan 23:

To attract foreign investment, a delegation headed by Odisha Industries minister will travel to Israel and Britain to be part of road shows.


The 10 to 12 member team lead by Industries minister Debi Prasad Mishra will also reportedly include Industry secretary Sanjeev Chopra, a few IPCOL employees, and some non government persons, who will finance themselves.

The foreign trip will be from January 30 or 31 to February 7 were the team will represent Odisha in the ongoing road shows in both the countries.

The idea has been mooted by Britain-based Department for International Development (DFID), which supports Odisha Modernising Economy Governance Administration (OMEGA), while IPICOL will finance the foreign junket.

Notably, foreign investment in Odisha has reduced with the inflow has also come down in last few years.

Interestingly, Chief Minister Naveen Patnaik has prepared a roadmap in which the state aims to get Rs 1.73 lakh crore of investment and 3.30 lakh employment in the state by 2019.

Food and agri processing industry, chemical, petrochemical, IT, textiles, and ancillary industries have been given priority in development plan.

The current global downturn, with slump in China and European economies, has lowered the chances of foreign companies coming to Odisha, feel industry experts.

The image of Odisha has taken a beating with the ArcelorMittal steel project withdrawal and rickety condition of Rs 60,000 crore Posco project, as well as the uncertainty over the fate of Vedanta’s Lanjigarh plant.