Odisha targets to attract Rs.2.25 lakh crore by 2025

Odisha-Govt-InvestmentTo catapult the state to a high growth trajectory, the Odisha government on Sunday unveiled new Odisha Industrial Development Plan 2025 (Vision-2025) intending to attract an investment of Rs 2.25 lakh crore and generate 10 lakh jobs by 2025.

Unveiling the plan at Odisha investors’ meet as part of the ongoing Make in India week in Mumbai, Chief Minister Naveen Patnaik also rolled out the e-biz portal aimed at easing business hassles for investors.

“The Vision-2025 lays a 10 year roadmap for development with transformational policies and strategies and presents a paradigm shift with the government acting as an ‘enabler’ to aid industrial growth. It aims at achieving sustainable manufacturing and employment generation and intends to attract an investment of Rs. 2.25 lakh crores in five focus sectors and to generate 10 lakh jobs,” he said in his address to the business delegations here.

Patnaik said during last one and half decade, Odisha has a remarkable political stability and a progressive and robust governance system which are essential to development.

It has made all stupendous progress in all socio-economic indicators and is generally a quite peaceful state providing the most ideal environment for investment, he added.

“Now it is emerging as a manufacturing hub on the east coast of India. The state witnessed a robust economic growth of over 8 percent in 2014-15 and is poised to grow at 12 percent by 2020. The government’s efforts in expanding the industrial base and promoting value addition are triggering enhanced industrial growth,” said Patnaik.

Noting the state’s investor-friendly new Industrial Policy-2015, he said it offers innovative features including incentives to industries with high employment potential and anchor industries.

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Patnaik also said the government is finalising a new “start-up’ policy to boost the start-up ecosystem in the state.

To provide a fillip to this, he dedicated the “Bhubaneswar Start-up Hub”, a 4.5 lakh square ft ready to move facility in the state capital.

The start up ecosystem will be mentored and guided by TIE Silicon Valley, with which the government has a strategic partnership, the first of its kind in the country.

About the e-biz portal, Patnaik said it would minimise physical interfaces and give approvals online to the investors.

Odisha would be the first state where 14 services required by the entrepreneurs can be applied for and the applications disposed of online, he added.

Informing that his government has created a land bank of one lakh acres, he said it had also decided to set up an Industrial Infrastructure Development Fund with an initial corpus of Rs. 100 crore.

The chief minister said that the government has also decided to tap the expertise and experience of the private sector in the implementation of industrial townships and industrial parks with self-contained facilities.

The government shall also encourage `Swiss Challenge” system in the procurement of key infrastructure initiatives which will promote innovation and efficiency and tap the inherent potential of the state.

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