Odisha bagged Rs 40,000cr investment through Odisha Investors Show campaign

Utkal Reporter| 15 Feb 2016

At the Make in India event in Mumbai Odisha did have a promising marketing to begin with. At the onset of the campaign-Odisha Investors Show on Sunday it attracted investment of Rs40,000cr from business conglomerates. The mineral rich state envisages getting Rs2.25 lac crore of investment in the coming four years.
Odisha for its abundance mineral resources and high growth rate has been a coveted destination for investment. It stands at 7th position among the states in the list of ‘easy of doing businesses’.

CM Naveen Pattnaik while leading the campaign for Odisha in the event said, “For one and a half decades, Odisha has shown remarkable growth, commitment to progress along with political stability. We are growing at 8% and are poised to grow at 12% by 2020,” and added that Bhubaneswar by topping the list of smart cities has attracted a lot investment in IT and start up sectors.
The CM said, the state is expanding its industrial base as he unveiled ‘the New Industrial Development Plan 2020’a plan envisaged to attract investments worth Rs 2.25 lakh crore by 2020 that will also generate 10 lac jobs by that time.

Business giants like Kumar Mangalam Birla, chairman Aditya Birla Group; Y C Deveshwar, chairman, ITC Ltd; Shashi Ruia, chairman, Essar Group; G B S Raju, business chairman, GMR Group ; T.V. Narendran, managing director, Tata Steel and Rajesh Adani, managing director, Adani Enterprises graced the Odisha Investors Show along with CM Naveen Pattnaik and were impressed.

L &T committed to invest Rs 12000cr in Odisha to establish an Integrated Alumina plant in Raygada. ITC has planned to set up a food processing plant at the cost of Rs800cr. Nalco will invest Rs20,550cr to set up an Alumina Park in Angul and to expand the its Damanjodi Unit.

On the occasion Odisha launched an e-biz portal first of its kind in India to provide one stop destination for regulatory clearances.

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