Odisha out to compete with other states to attract investment

Directly competing with other states to attract investments, the government of Odisha is offering ‘X-plus’ incentives. State industry minister Pratap Keshari Deb said their offer will be the most competitive and will translate to the highest subsidy in terms of tax, cost of land, electricity, infrastructure and water as compared to any offer promised by any other state, including Maharashtra and Gujarat, in eight selected sectors.

The chosen sectors are textiles and apparel, engineering goods, metal downstream, electrical equipment, renewable energy equipment, auto and auto components, chemicals and petrochemicals and food processing.

In Mumbai to promote the ‘Make in Odisha’ conclave (from November 30 to December 4 in Bhubaneshwar), the state’s principal secretary Hemant Sharma said that all basic requirements such as land, power, infrastructure and water will be provided at a cost that will be the lowest in India.

For instance, if Maharashtra offers power at Rs 5 per unit (even if it is the lowest in the country), the tariff in Odisha would be lesser, Sharma said on the sidelines of the investors’ meet organised by Odisha Chief Minister Navin Patnaik on Wednesday.

In addition, the state through its unique Go Swift scheme will also provide land to industry investors and the manufacturing sector through the fastest process of 30 acres of land in 30 days, 50 acres of land in 50 days and 100 acres of land in 100 days.

“Better incentives offered by the state are over and above the other advantages such as skilled manpower, natural resources, political stability and locational merits like long coastal line and ports, among others,” said Deb.

The minister added, “We have created most of the industry base in the state, including land bank, infrastructure and resource pool in the last one decade, building it up from a very poor state of industry environment to ready for big industrial leap.”