Odisha Government delegation meets prospective investors in Mumbai

Mumbai: A senior Government of Odisha delegation held meetings with prospective investors from Mumbai and highlighted investment opportunities in the vibrant business ecosystem in the state. The team, led by Chief Secretary, Mr. A P Padhi, held extensive meetings with senior representatives of various companies across focus sectors of the State including ancillary and downstream industries metal, food processing, apparels and textiles. “The focus of the State Government is on rapid implementation of projects through seamless inter-departmental coordination and the use of recently launched first-of-its-kind Single Window Portal GO SWIFT,” Mr. Padhi said on the sidelines of the investor meeting. The investor meet in Mumbai on November 30 and December 1 is being attended by Mr Sanjeev Chopra, Principal Secretary, Industries, Government of Odisha and senior officials from Industrial Promotion and Investment Corporation of Odisha Ltd (IPICOL), the State level agency for investment promotion and facilitation. Last year, the State received investment intent worth Rs 71,000 crore during the ‘Make in India week’ held at Mumbai in February 2016. Of the 14 investment announcements received by the State during the event, as many as 9 projects are already in various stages of implementation. The investment proposal from Gitanjali Infratech Ltd. to set up a gems and jewellery park was recently approved by the State Government.  Deepak Fertilisers proposal to set up a fertiliser unit has also been approved and the company will soon have ground-breaking for the project. TATA SEZ has set a multi-product SEZ and industrial park at Gopalpur. IOCL will be commissioning downstream polypropylene unit by June 2018 at Paradip. NALCO, in collaboration with IDCO, has set up a unique Aluminium Park at Angul for downstream industries in Aluminium sector. In addition, NALCO’s proposal for expansion of smelter and refinery capacities in the State have also been recently approved by the State. Notably, of the 124 investment intents received during the Investors’ Meets organized last year at Mumbai, Bengaluru and in the ‘Make in Odisha’ conclave, the State Government has already received and approved firm proposals for 75 projects worth Rs 2.02 lakh crore.During the meetings, the investors were informed about the key differentiating factors that make the State a unique destination for investments including:

• Stable government for more than 17+ years with CM Naveen Patnaik recognised as one of the best administrators in the country

• 480 km long coastline with presence of deep water ports at Paradip and Dhamra with combined capacities expected to reach in excess of 400 MMTPA by 2020

• Largest producer of steel, stainless steel and Aluminium in India

• State emerging as Education Hub of the East in India with presence of premier institutions such as IIT, IIM, AIIMS, NIT, XIMB etc. and more than 1,00,000 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 other cities in India in the Smart City Challenge of Government of India

The State delegation also informed the investors about the recent business reforms being undertaken to facilitate the Ease of Doing Business in the state, including the recent launch of single window portal for industries– GO SWIFT (Govt of Odisha Single Window Investor Facilitation and Tracking)– and incentive framework available for investor community across focus sectors.Highlighting the key first-of-its-kind features of the portal, Mr. Sanjeev Chopra, Principal Secretary, Industries Department said that “We are committed to ensure investor delight. With the introduction of GO SWIFT, an industrial unit can get customized information regarding incentives and requisite approvals about the proposed investment, select suitable land, apply for single window clearance, obtain land and other utilities, get statutory clearances, take advantage of risk-based synchronized inspections by regulatory agencies, obtain post-land allotment services from IDCO, resolve issues with government departments and also dovetail its CSR activities with the developmental goals of the state. This is first-of-its-kind development by any State in the country to facilitate investors”. Under the leadership of Hon’ble Chief Minister of Odisha, Shri Naveen Patnaik, the state 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 the focus sectors that include Ancillary and Downstream in metal sector; Chemicals, Plastics and Petrochemicals; Electronics Manufacturing and IT; Agro & Seafood Processing, Tourism; Textiles and Apparel.