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Odisha seeks cooperation, investment from Israel

Press Trust of India  |  Tel Aviv 

Odisha has invited top Israeli companies to invest in the state in a number of areas, particularly in the field of technology and innovation.

A large business delegation led by state's Minister of Industries Debi Prasad Mishra reached out to leading Israeli businesses seeking collaboration in areas of joint interest during the three-day visit to the country.

"The state government has recently promulgated the Industrial Policy 2015 which creates a conducive environment through a regulatory framework to drive sustainable industrial growth", Mishra told senior executives of leading Israeli businesses at a seminar, "New Business Opportunities in Odisha".

"Odisha has become one of the top three preferred destinations for investment in the country and aspires to be a leader as far as measures to ease doing business is concerned," Mishra, who is also Minister of School and Mass Education, told PTI.

The Associated Chambers of Commerce and Industry of India (ASSOCHAM) is said to have identified Maharashtra, Gujarat and Odisha as the top three preferred destinations for potential investors.

"We have surpassed several other states in reforms and the state has set a target of achieving 12 per cent growth rate by 2020," Mishra said.

"In order to make this a reality we are extending several fiscal and non-fiscal incentives to investors and looking to assist them by creating a hassle free environment," he said.

The state delegation held extensive discussions during its visit and reached out to major institutions such as Israel Exports Institute, Israel Manufacturer's Association, representatives of the Ministry of Economy, leading entrepreneurs and dozens of leading business houses.

Principal Secretary of Industries to the state government Sanjeev Chopra in his presentation emphasized on Israel's strength in the field of technology and innovation calling upon Israeli companies to collaborate with the state.

Mishra said investors who are looking to create jobs locally will be extended special incentives and the government is trying to address the major bottlenecks in attracting investments by creating land banks, ensuring round the clock power supply and introducing single window clearance system.

Officials accompanying the Industries Minister stressed that a state level nodal agency Industrial Promotion and Investment Corporation of Odisha Limited (IPICOL) has been set up as a single point of contact for all the investors.

Odisha has outlined 21 priority sectors and five focused sectors for investment and development, including, agriculture and food processing, IT and electronic system, tourism, handicrafts and textiles, petroleum, chemicals and petrochmicals, renewable energy and pharmaceuticals.

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First Published: Mon, February 01 2016. 17:07 IST