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Odisha Aspires To Be USD 1 Trillion Economy By 2030


23 October 2019

OMMCOM NEWS


Bhubaneswar: Odisha has a vision to turn into USD 1 trillion economy with focus on industrial infrastructure development and conducive business environment to ensure ease of doing business, this message was passed on through the official twitter handle of Chief Minister Naveen Patnaik on Wednesday.

Quoting an article published on CEO WORLD Magazine a couple of days back, the Chief Minister's Office indicated, on how Odisha is in the process of establishing itself as the 'Manufacturing Hub of the East'.

A vision report titled ‘Economic possibilities for Odisha towards a one trillion dollar economy’, jointly prepared by JSW Group and PwC India states about Odisha’s potential to become a $1 trillion economy.

The government is counting on its ‘Ease of doing business’ (EODB) promise to attract major industries from India and globally to set up business here. The state government has developed the online Single Window portal, Go Swift (Government of Odisha – Single Window for Investor Facilitation and Tracking), to transform the B2G interface through the entire investment lifecycle, the article published on CEO WORLD Magazine on October 21 read.

Earlier this year, Naveen Patnaik led government laid the foundation stone of 14 industries and inaugurated four industrial units which is expected to give a major boost to the state’s economy by providing jobs to more than 3,500 people. The current major players are predominantly in mineral and metal sector. Odisha has also diversified into other sectors such as Petrochemcials, Textiles and Food processing.

The article has quoted Managing Director of Industrial Promotion & Investment Corporation of Odisha (IPICOL), Nitin Jawale, who says that the state is eyeing sectors such as Automobile manufacturing (ancillaries as well), Electronics and IT, Pharmaceuticals and medical equipment, Agro-based Industries. Though barring the first the state already has some players in the other sectors, we are trying to get more and bigger players.

"The Vision 2030 that envisages downstream development in metal sector (Steel, Aluminum and Stainless steel, of all three we are the largest producers in the country) is our biggest bet at achieving the USD 1 trillion economy," Jawale said.