Odisha ropes in KPMG to draw up long-term industrial strategy

The objective is to identify the potential sectors for industrial development and address the gaps in policy, infrastructure and investment promotion

The Odisha government has roped in top consultancy firm KPMG for examining the existing business scenario in the state and chart out a long-term strategy for comprehensive and sustainable industrial development.

The objective is to identify the potential sectors for industrial development and draw up strategy to address the gaps in policy, infrastructure and investment promotion.

State officials are likely to have a meeting with a KPMG team next month to talk on the possible strategies.

It may be noted that the state government hopes to draw new investments of the order of Rs 1.73 lakh crore and generate 300,000 jobs by 2019-20, banking on manufacturing sector that is seen as the key job creator.

The share of manufacturing to the state’s gross domestic product (GDP) is poised to rise by 60 per cent by 2019. The sector is projected to clock year-on-year growth of 15 per cent during 2015-19.

During 2015-19, the state planned to set up 10 new industrial estates at Sundargarh, Dhenkanal, Sambalpur, Angul, Balasore, Bhadrak, Cuttack, Jagatsinghpur, Khurda and Ganjam.

For branding Odisha as a favoured industrial destination, the industries department also proposed to hold a Global Investment Summit in the state in 2016. A mobile application has been planned for industrial promotion and facilitation.

The state is giving final touches to its new Industrial Policy Resolution (IPR), 2015

The IPR aims at a multi-pronged approach for industrial promotion by providing infrastructure support, institutional support and pre and post production incentives.

It strives to strengthen the nodal agency for investment promotion — Industrial Promotion & Investment Corporation of Odisha Ltd (Ipicol) to function as an effective one stop shop for investors.

Ipicol would develop and implement a web-based system to facilitate investment clearances in a time bound manner. There will also be a facility for e-filing of combined application form (CAF) by investors, e-payment of processing fees and virtual single window interface between investors and different clearance authorities. The business friendly steps are to be put in place by the end of 2015-16, according to the draft IPR, 2015.

Also, Ipicol would set up a GIS based comprehensive industrial data bank by engaging a professional agency.

Six months after the IPR 2015 comes into force, the industries department would initiate deployment of a web enabled platform for facilitating all statutory approvals applied through CAF.

The draft IPR says the existing single window clearance mechanism will be made more effective so that most of the clearances are accorded at the time of approval of projects.