Odisha steps up efforts to implement Rs 2 lakh cr investments

State targets at least 75% of investments committed in Make In Odisha summit, within three years

After bagging investment intentions of Rs 2.03 lakh crore at the Make in Odisha conclave held in Bhubaneswar last year, Odisha government has stepped up efforts to implement the same at the earliest.

"In a follow-up to the Make in Odisha event, we are reaching out to those who committed investments at the meet, to urge them to implement their proposals at the earliest and to assure them all support from our side. We have met the investors in New Delhi and Mumbai and will soon hold such meetings with others in Kolkata, Bengaluru and Hyderabad," said an Ipicol (Industrial Promotion & Investment Corporation of Odisha Limited), the nodal agency to usher in fresh investment in the state.

Odisha has set a target to implement fresh investments of at least Rs 1.5 lakh crore in the next three years out of the Rs 2.03 crore investment intentions promised at the Make In Odisha summit.

Out of the total investment proposals received at the meet, metals & minerals sector was the top investment grosser with Rs 97,911 crore. Infrastructure followed next with proposals worth Rs 38,443 crore, power & renewable energy (Rs 29,932 crore) and fertilisers, chemicals & petrochemicals and plastics (Rs 27,023 crore).

Other sectors also bagged sizeable investments -- manufacturing (Rs 2,685 crore), tourism (Rs 2,076 crore), food processing (Rs 2,101 crore), IT & electronics system design and manufacturing or ESDM (Rs 1,500 crore), textiles and handloom (Rs 172 crore).

Odisha government, in its Vision 2025 Goal, aims to draw investments worth Rs 2.5 lakh crore, primarily in five thrust sectors with an employment potential of three million.

The thrust sectors are IT & electronics manufacturing, downstream & ancillary, food processing, petroleum, chemicals & petrochemicals and textiles & apparel.

An official said, the implementation of projects at the ground level always remains a sore point as the commitment made at Bengaluru and Mumbai events are yet to take off. Handholding the investors is a step in this regard to speed up the implementation of the projects, he added.