Plan long-term investment strategies: Odisha CM to India Inc

Abhishek Law Bhubaneswar | Updated on November 12, 2018 Published on November 12, 2018

Chief Minister Naveen Patnaik (file photo)   -  Kamal Singh

Proposing that Odisha be developed as a manufacturing hub of South Asia, Chief Minister Naveen Patnaik on Monday asked industry captains to explore and opt for long-term investment strategies.

“I propose that each (of the industry captains present) plan a long-term strategy for investment in the State over the next 10 years,” he said at the plenary session of the biennial ‘Make in Odisha Conclave 2018’ here in Bhubaneswar.

Mineral-rich State

Dedicated teams will be appointed by the State to handhold the implementation of long-term plans. “We can work together towards developing Odisha as a manufacturing hub of South Asia,” he added.

Highlighting the State’s USP as the country’s leading mineral producer, the Chief Minister referred to it as the “aluminium capital of south Asia” and “the steel hub of India.”

The target is to attract investments of ₹2,50,000 crore and create 30 lakh job opportunities in six identified focus sectors by 2025.

Port-led development

Aerospace and defence manufacturing are two segments that the State government is pushing for “in order to capitalise on the competitive advantages of Odisha’s existing ecosystem”.

Port-led development is another area with the State is planning a chain of ports along the East Coast Economic Corridor. Among the new ports being developed are Subarnarekha and Gopalpur.

Developing healthcare infrastructure, pushing start-ups through favourable policies, focusing on MSMEs and food processing are other areas that the government is looking into.

The State government also entered into a MoU with ITEES, Singapore to set up and manage a ‘World Skill Centre’.

First edition, a success

According to Patnaik, the first edition of the biennial event held in 2016 was a huge success.

There were 124 investment intents, worth over ₹2 lakh crore and employment opportunities for more than one lakh people.

Nearly two-thirds of these proposals are either under implementation stage or ground breaking has happened.

“About two-thirds of the investment proposals we received last time are in various stages of implementation,” he said.

Published on November 12, 2018
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