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Advantage Odisha

Odisha, the land of opportunities is one of the India's top industrial investment destination. While Odisha was always a natural choice for investments, the host of advantages the state enjoys in terms of connectivity, mineral reserves and sound government policies have combined to make an investment destination that it always deserved to be. The economy of Odisha is improving fast. The per capita GDP of the State is showing constant rise in the last 5 years in rupee term.

Odisha's geo-eco position is both ideal and idyllic. Rich mineral resources and abundant water sources are a natural corollary to its geographical position. While agriculture remains the principal occupation of the majority of the state's population, a growing awareness about new avenues is all set to take the state to new heights in economic development.

t receives unprecedented investments in steel, aluminium, power, refineries and ports. So far, two of the S&P CNX 500 conglomerates have corporate offices in Odisha, for example, National Aluminium (2005 gross income INR.51,162 million) and Tata Sponge Iron (2005 gross income INR.2,044 million).

Trust Areas of Investment :

1. Downstream Industries in Steel, Aluminum & Petrochemical Sectors

Odisha has abundant natural resources and a large coastline. It contains a fifth of India's coal, a quarter of its iron ore, a third of its bauxite reserves and most of the chromite. Recently the number of companies who have signed Memoranda of Understanding (MoUs) to set up steel plants in the state has gone up to 50, including POSCO of South Korea. The Central Government has agreed to accord SEZ (Special Economic Zone) status to eight sites in Odisha.

2. Mineral Processing

Occupying an important position on the country's map, Odisha’s rich mineral reserves constitute 28% Iron ore, 24% coal, 59% Bauxite and 98% Chromite of India's total deposits. The state's comparative advantage on this account has attracted the attention of many mining and metallurgical companies.

3. Chemicals & Fertilisers

Presently, there are five big fertilizer plants in Odisha. The first plant located at Rourkela in Sundergarh District is a Public Sector Undertaking. This plant utilizes the byproducts and surplus gas from the Rourkela Steel Plant. Others are namely; Odisha Fertilizer and Chemical Limited is located near Kalunga, third fertilizer plant is located at Talcher in Anugul District, the Indian Farmers and Fertilizers Corporation Ltd. is located at Baragarh and the phosphate fertilizer complex at Paradeep are the major Chemicals & Fertilisers investments in the State.

4. Agro & Food Processing Industries

Odisha would be the major players in the food processing industries to promote investment in this sector. They will be contacted for setting up manufacturing base in the state. Besides, concerted efforts have been made for setting up of industries based on maize which is available in Nawarangpur district. It may be noted, companies like Britannia, Parle Ago and ITC Agro have already evinced interest to set up food processing units in the state. The Mega Food Park, which is under pipeline, should have provisions for processing of multi products. Sources said, Odisha ranks fourth among the vegetable producing states of the country with coconut and cashew being two major produce in the long coast line.

5. Handicrafts & Handloom

Handloom fabrics of Odisha are always in demand. There is a huge market for the products of Odisha in outside countries. The tye-and-dye fabrics in bright colours have a very good market in USA and Spain. Odisha’s handloom and handicraft industry now provides livelihood to over 1.3 lakh artisans and two lakh weavers. But there is lack of promotional opportunities for these manufacturers. Through the fair, the government is providing the buyers with a platform where they can have direct contact with buyers, thus eliminating the interference of unscrupulous middlemen.

6. Export Oriented Industries

Odisha’s contribution to the export trade is 2.21%(approx.). The growth trend of exports from Odisha is on an average around 22%. After the adoption of Export Policy by Govt. of Odisha the figure reached at double digit. The Govt. of India has in the recent past, initiated a number of measures to promote exports of both primary and manufactured products as also services. Allocation of funds for export development by States, Export Promotion Industrial Park Scheme, Critical Infrastructure Balance Scheme, Export Intensive Area scheme, Market Development Scheme and setting up of Special Economic Zones, in important locations are some of the initiatives taken by the Govt. of India. Odisha has all potentials to attract investment in various sectors for export purposes.

7. IT Industries

India's topmost IT consulting firms, including Infosys, Tech Mahindra, TCS (Tata Consultancy Services), MindTree Consulting, and PricewaterhouseCoopers etc. have large branches in Odisha. IBM, Syntel and Wipro are also setting up development centres in Odisha. There are also excellent regional IT companies who are rendering best-of-industries services in both national and international levels. These companies have booked a niche in global IT market with national repute. A spurt in IT investments coming to the state is an indication of a bright future for trade and industry in the region. There has been a continuous improvement in the hard and soft infrastructure in recent past.

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