After large companies, Odisha is now set to attract MSMEs across sectors | The Financial Express

After large companies, Odisha is now set to attract MSMEs across sectors

Ease of Doing Business for MSMEs: Odisha is conducting roadshows in India’s key cities for the upcoming investment summit “The Make in Odisha Conclave’22”. This investment summit will be held in Bhubaneswar from November 30 to December 4 for the third time.

After large companies, Odisha is now set to attract MSMEs across sectors
Odisha’s huge corridor in its western part besides the Biju Expressway from Rourkela to Kotpad in Koraput district has been declared as an industrial corridor by the state to accommodate more companies.

Ease of Doing Business for MSMEs: The state of Odisha, after large industries, is now set to attract Micro, Small & Medium Enterprises (MSMEs) across sectors from all over the country to set up units, as per a report by the Hindu. 

Odisha is conducting roadshows in India’s key cities for the upcoming investment summit “The Make in Odisha Conclave’22”. This investment summit will be held in Bhubaneswar from November 30 to December 4 for the third time. 

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“Our Chief Minister’s vision is to value add to the State’s economy through twin goals of lifting the agriculture economy as well as the industrial economy. We call this inclusive growth or inclusive industrialisation,” said Pratap Keshari Deb, Minister for Industries, MSME & Energy, Government of Odisha in an interview, reported The Hindu.    

“From mine-based and heavy industry-based economy, we are moving to MSMEs sector which provides large scale employment and where maximum money will rotate in the economy. So, we are looking at any company which can invest between ₹1 crore to ₹500 crore,” Deb added.

The minister also said, “Right now, I am open to all sectors. But our focus areas are chemicals and petrochemicals, textiles, apparels, food processing, crafts and handicrafts, green energy and pharmaceuticals.” 

Odisha’s huge corridor in its western part besides the Biju Expressway from Rourkela to Kotpad in Koraput district has been declared as an industrial corridor by the state to accommodate more companies.

The state is also developing South Odisha, the tribal heartland, for food processing which is also known for millet and corn crops. 

During the first summit in 2016 the government had received investment intent of ₹1.51 lakh crore of which ₹48,000 crore worth of projects were grounded, the Minister said, as per the report.  

“In 2018, we got intent of ₹4.10 lakh crore of which ₹1.78 lakh crore worth of projects were grounded. In 2020 we could not organise it due to Covid and now we are back in 2022. But during Covid time, when industries were shutting down, we had received 225 proposals of which 170 have been grounded,” the state MSME minister added.      

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He further said, “What makes Odisha most attractive is that when other places [States] are dying down or plateauing, we are just rising.”

He asserted that the next destination and the next industrial hub of the country is going to be in the east and in Odisha.

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