Odisha earmarked around Rs 600 crore to set up new industrial parks

Ease of Doing Business for MSMEs: IDCO had been developing 11 industrial corridors alongside the Biju Expressway, which connects Rourkela in western Odisha and Malkangiri in the southern region.

Written by MSME Desk

August 26, 2022 21:38 IST

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The administration has also planned to set up two aluminium parks in Angul and Jharsuguda, said Tripathy

Ease of Doing Business for MSMEs: Odisha has announced investment of up to Rs 600 crore to set up 23 new industrial parks in the state by the Industrial Infrastructure Development Corporation (IDCO), according to the report in The Print.

The principal adviser to the chief minister, Asit Tripathy said that the state government has renewed its focus on development of ancillary industries to upgrade and accelerate economic development and create employment.

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Tripathy is also the chairperson of Western Odisha Development Council. He said that IDCO had been developing 11 industrial corridors alongside the Biju Expressway, which connects Rourkela in western Odisha and Malkangiri in the southern region, as per The Print’s report.

The corporation has been assigned development of 23 industrial parks in different regions and Rs 600 crore would be allocated in the next three years for the purpose, he said.

Tripathy was speaking at the Odisha MSME Meet 2022 organised by industry association Odisha Assembly of Small and Medium Enterprises at the Janata Maidan in Bhubaneswar.

The administration has also planned to set up two aluminium parks in Angul and Jharsuguda, said Tripathy. Additionally, the government is considering a proposal to provide incentives for industrial development in the backward regions, he noted.

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The principal secretary of the MSME department, Ranjana Chopra said 95 per cent of the enterprises in Odisha were micro and small, and their contribution to employment generation was “not encouraging at all”.

She also said that the government was ready to support micro enterprises so they are able to become a ‘small’ undertaking.

This article was first uploaded on August twenty-six, twenty twenty-two, at thirty-eight minutes past nine in the night.