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Odisha’s Business Friendly Policies Are Preparing Breeding Ground for Economic Acceleration

Odisha’s Business Friendly Policies Are Preparing Breeding Ground for Economic Acceleration

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Just wrapping up its second ‘Make in Odisha Conclave 2018’ Odisha has some applauses conferred for its tremendously business potential and industry-friendly policies which are preparing a nurturing ground for industrial growth in the state.

Sajjan Jindal, chairman and managing director, JSW Group, who is one among the potential investors in the Odisha developmental project, enunciated “If India will become a $10 trillion economy by 2035, Odisha has to play a vital role. After Maharashtra and Tamil Nadu by then, Odisha could be the third State to be a $1 trillion economy.”

He said JSW would set up a modern steel plant in Odisha.

Reliance Industries Ltd., which has already invested ₹6,000 crore, has committed to invest an additional ₹3,000 crore in the next three years in Odisha. “Today, Odisha has been growing at 8% per annum, higher than the national average, and the State is fast becoming an ideal investment destination,” Mukesh Ambani, CMD, RIL, said.

For Reliance, Jio was not just another business, he said. “It is a mission to transform India — to transform Odisha. We have created sustained new employment opportunities — both direct and indirect — to over 30,000 people in the State,” he added.

The per capita data consumption in Odisha is among the highest in the country, he said.

Stating that the Tatas had an over-a-century-old association with Odisha, Tata Group chairman N. Chandrasekaran said, “Our experience has been very satisfying and enriching. We will further invest in Odisha.”

Tata Steel had announced a ₹23,500-crore expansion plan at Kalinganagar, and with this, the Tata Group’s total investment in the State would exceed ₹1,00,000 crore, he said.

Aditya Birla Group, which has invested in textile business in the State, has committed to invest additional $2 billion in Odisha.

“The long-standing relationship of the Aditya Birla Group with Odisha goes beyond the investments we have made here,” Kumar Mangalam Birla, chairman, Aditya Birla Group, said.

Sanjiv Puri, MD, ITC, said: “Investment-friendly policies, good governance, robust infrastructure, mineral resources and agriculture resources and access to the market has made Odisha a complete investment destination.”

While Steel Authority of India has announced an investment plan of ₹41,000 crore, Vedanta Resources said it would invest ₹6,483 crore in capacity enhancement of its aluminium smelter.

Chief Minister Naveen Patnaik said that the first edition of the conclave had invited investment of ₹2,00,000 crore.

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