Odisha industrial policy offers outstanding opportunities to investors: Hemant Sharma

Kolkata: The industrial policy drawn up in 2022 offers outstanding opportunities to investors to start operations in Odisha which is recognised as “one of the most business-conducive” State in the country.

Speaking at a session organised by the Engineering Export Promotion Council (EEPC) India here, State Industries department Principal Secretary Hemant Sharma said the policy of 2022 focuses on transforming Odisha into a “modern and advanced industrial State by offering outstanding opportunities” for sustainable business growth and fostering socio-economic development of the people.

Sharma, also the Chairman of Industrial Promotion and Investment Corporation of Odisha Limited and Odisha Industrial Infrastructure Development Corporation, said the mission of the State is to “maximise economic potential by leveraging its natural and human resources aided by modern technology”.

EEPC India Cuttack chapter convenor Pawan Sureka said Odisha is the “fourth largest State in the country in terms of engineering exports with $7.8 billion (US) worth of shipments in 2022-23”.

Engineering exports contribute nearly 70 per cent of total shipments from the State. Within the engineering space, ancillary and downstream in the metal sector, value-added products based on rare earth minerals, speciality steel products, shipbuilding, ship-repair and construction of other mechanised floating vessels are the major segments identified by the State government for industrial development.

Rich mineral resources, adequate fresh water, low-cost labour, availability of skilled workforce and proactive policy framework for developing key economic sectors have drawn the attention of investors, he added.