Kolkata, Aug 22 (UNI) Odisha is a rapidly developing hidden gem of India, political stability, steady growth of State Gross Domestic Product (GSDP) over the past decade reaching USD 87.39 billion in 2022-23, continuous FDI inflow amounting to USD 159.76 million in the last three and half years till March 2023, over USD 11.2 billion of exports in 2022-23, highest mineral reserve among any Indian state, a data was available in an interactive session at the EEPC India here on Wednesday.
The well-developed social, physical, and industrial infrastructure and most importantly, the Naveen Pattnaik government is to make Odisha an industrial and export hub of India, which already contributed towards shaping up the state as the ‘Land of new opportunities’ according to Regional Chairman (ER), EEPC India B D Agarwal.
Principal Secretary, Industries Department, Chairman, IPICOL & IDCO, Odisha, Hemant Sharma upheld the industrial policy of the state which is recognized as one of the most business conducive ones among all Indian states.
The new policy framed in 2022 focuses on transforming Odisha into a modern and advanced industrial state by offering the investors outstanding
opportunities for sustainable business growth and to foster holistic socio-economic development of the people.
” The mission is to maximize Odisha’s economic potential by leveraging its natural and human resource advantages, aided by modern technology and thereby enabling the creation of a sustainable industrial ecosystem for inclusive growth,” Sharma said.
Rich mineral resources (Odisha has 16.92 percent of total mineral reserves of the country and it contributes 10.21 pc of national production), Adequate fresh water available for industrial use (Odisha has 11 pc of country’s water resource), Low cost labour and availability of skilled workforce, Land contiguous to ports available for industries, Proactive policy framework for developing key economic sectors and for infrastructure buildup have drawn attention of investors .
Convenor, Cuttack (Odisha) Chapter, EEPC India Pawan Sureka said that Odisha, the 10th largest exporter overall and 4th in Engineering with USD 7.8 billion worth of engineering shipment in 2022-23 is one of the frontline states . Engineering exports contribute nearly 70 percent of total exports from the state. Within the engineering segment, ancillary and downstream in metal sector, rare earth minerals based value-added products, specialty steel and its products, and shipbuilding, ship-repair, and construction of other mechanized floating vessels are the major sectors identified by Government for industrial development.