Out of the 183 investment proposals which were were received by the Odisha Government in the run-up of Make in Odisha Conclave 2018, nearly 60 projects will be reportedly approved in the coming year.
The cumulative value of these proposals stands at Rs 435.52 billion and covers sectors such as minerals, and metal, fertiliser and chemicals, and agri and food processing.
The Make in India Conclave 2018 reportedly drew investment intents of Rs. 4,200 billion across 15 sectors, saw 34 expansion and brown-field projects and another 149 greenfield ones. Nearly 80 per cent of the investment commitments received are reportedly expected to materialise
Staying away from MoU signings, the Odisha government has chosen to come up with a single page (investment intention) form where companies would put up their investment proposal and other details. This was followed up by the authorities, and subsequently placed for a single- window clearance.
Though mining and metals segment have been the traditional mainstay for Odisha’s economy, the diversification of industrial base is expected to be critical. In order to push local industries and shore up employment, the government focuses on downstream and value-added industry. The government aims to target for at least 50 per cent of the metals produced in the State should be value-added by 2030 .
Besides, the government is also looking to promote private industrial parks. Players like Jindal Stainless have reportedly submitted their proposals. Also, the government is actively looking for the development of ports.
Of the 183 investment intents received in the lead up to and during the Make in Odisha Conclave 2018, 64 per cent are reportedly green-field projects in non-mineral sectors having a potential to generate 230,000 jobs.