Investment promotion activities of Odisha takes a quantum jump

Bhubaneswar: Investment promotion activities of Odisha have recorded a quantum jump over last 5 years, said an official on Friday.

Reviewing the promotional activities undertaken so far, Chief Secretary AP Padhi directed IPICOL to make all the investment meets more outcome-oriented in terms of bringing in employment-intensive investments.

The departments concerned with the actual delivery of investment-related services were asked to ensure field level implementation of the reforms enacted under “Ease of Doing Business” (EoB).

The review showed that the State Level Single Window Clearance Authority (SLSWCA) system, in which Odisha is a pioneering state in the country, has stabilized in the state and there has been a quantum jump in its activities over last 5 years.

The number of projects approved through SLSWCA has increased to 55 in the year 2017 from 8 in the year 2013. Apart from these, a number of projects have also been cleared in district level Single Window Committees of the respective districts.

The SLSWCA has recorded a constant increase in its performance. The number of projects approved through the system in the year 2015 was 27 which increased to 29 in the year 2016 and finally to 55 in the year 2017.

The total investment worth of these projects is around Rs. 1.78 lakh crore with an employment potential of more than 1.30 lakh. Presently, 41 new investment intents are under active consideration of the Government.

This has been possible because of continued efforts of the government over the years. The Industry department in collaboration with industry associations and chambers of trade and commerce has successfully organized the investment promotion events.

These are Chennai Investors’ Meet during June-2017, Vizag Investors’ Meet in July-2017, Downstream Steel and Stainless Steel meet, Kalinganagar in September – 2017, Sanmuko Kai meet, Delhi in September-2017, Delhi Investors’ Meet in September- 2017, Ancillary & Downstream meet for Aluminum sector at Bhubaneswar in October- 2017, Japan- Thailand delegation visit in November-2017.

Besides, Mumbai Investors’ Meet in December-2017, ASEAN-India Business and Investment Meet in January-2018, 42nd Joint Meeting of India- Japan Business Co-operation Committee in January-2018, Kolkata Investors’ Meet in January-2018 were organized.

Keeping in tune with increasing business intents in the state, the government has also introduced major reforms under ‘Ease of Doing Business’. So far more than 366 procedural reforms have been introduced in the system.

Presently, the state government has turned its focus towards the sectors like agro & food processing, auto & auto components, Chemicals, Plastics & Petrochemicals, Downstream & Ancillary in Metals, Electronics manufacturing, Pharmaceuticals, Textiles & Apparel.

Specific promotional policies have been put in place for facilitating investment and entrepreneurship in these sectors.