Odisha's defence policy dangles Rs 1 billion capital subsidy for OEMs

This provision is designed to attract key players to setup units in the state, which in turn will provide impetus for further development of ancillary and downstream units in the state

The Odisha government has unveiled its ‘Aerospace & Defence Manufacturing Policy’ laced with incentives and subsidies to attract the best of the companies in the sector.

The policy offers a capital subsidy of Rs 1 billion for the first three OEMs (Original Equipment Manufacturers) who set up their manufacturing facilities in the state, committing investments of at least Rs 10 billion and generating employment for not less than 1000 people. In addition, for the first three OEMs setting up manufacturing units in the state, interest subsidy will be allowed up to a limit of Rs 100 million per annum and