Bhubaneswar: In the recently concluded State Investment Promotion Agency (IPA) ratings report, released by Invest India in collaboration with the World Bank Group, Odisha’s state investment promotion & facilitation agency, IPICOL, has been categorized as “Top Performers” amongst 20 State IPAs with an overall score of 98%.
This assessment was meant to measure the preparedness of the Indian State IPAs to attract and facilitate investment projects. For the assessment Invest India undertook a survey with 74 questions across 8 pillars. These pillars included Mandate and Organization, Strategy and Marketing, Targeting Investors, Winning Investment Projects, Facilitating Investments, Aftercare, Systems and Infrastructure and Website.
The State IPAs were evaluated by the joint team from Invest India and World Bank Group. The states have been classified into four categories: Top Performers, Aspiring Leaders, Promising Developers and Emerging Potential.
As per the report, the Top performers are the IPAs that are most prepared for attracting and retaining investors and perform well across many or all the eight Pillars. They demonstrate multiple aspects of internationally recognized good practices
The report states “We congratulate IPICOL for taking remarkable measures that have resulted in it becoming one of the leading investment promotion agencies in India. We commend the far-sightedness of the State IPA and its leadership for taking the steps to prove its relevance in this competitive landscape.”
IPICOL over the past few years has worked extensively to make the doing business environment in Odisha conducive and hassle-free by bringing in institutional, systemic and technological reforms. This was reflected in the pillar-wise scores, in which it scored 100% in 7 pillars while scoring 80% in the remaining one.
IPICOL has also played an active role in making Odisha one of the top destinations in India and helping it achieve top rank in terms of attracting new investments during the period April to September in 2019, as per the report by CMIE. The state was also recognized as the number 1 state in the country, in terms of investment implementation rate by ASSOCHAM.
The report also praised IPICOL’s vision for growth by mentioning that “The noteworthy initiative taken by the state to strategically decide its focus sectors and sub-sectors and curate its investment promotion & targeting approach accordingly will play a critical role in positioning Odisha as an attractive investment destination”.