For next "Make in Odisha" summit in 2022, Odisha and FICCI ink an MoU

For next “Make in Odisha” summit in 2022, Odisha and FICCI ink an MoU

A MoU between the state-run Industrial Promotion and Investment Corporation of Odisha and the business organisation Federation of Indian Chambers of Commerce and Industry.

A Memorandum of Understanding between the state-run Industrial Promotion and Investment Corporation of Odisha and the business organisation Federation of Indian Chambers of Commerce and Industry (FICCI) designates the latter as a national industry partner for the Make in Odisha Conclave 2022. The Odisha government’s Principal Secretary for Industries, Hemant Sharma, emphasised that “Make in Odisha” is the state’s most entrepreneurial event and draws investors, businesspeople, and industrialists alike.

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Make in Odisha: KEY POINTS:

Pratap Keshari Deb, the Minister for Industries, MSME, and Energy for the Government of Odisha, stated that the Make in Odisha Conclave will be held for the third time this year.
The inaugural edition in 2016 received approximately Rs 2 Lakh Crore in investment intent, which was a tremendous response.
The Minister added that the state’s growth rate was 10.1%, making it one of India’s fastest-growing economies. With a 56% share of the industrial gross value added, the manufacturing sector expanded by 14.3% in 2021–2022 compared to the mining industry’s 18.1 % growth.
He also drew emphasis to the fact that due to its natural resources and ecosystem advantage, Odisha has grown to be a preferred location for enterprises in the metal and related sectors.

Odisha Government’s Steps:

The Odisha government has made proactive steps to diversify the state’s economic ecosystem, putting particular emphasis on industries like chemicals and petrochemicals, textiles, and apparel.
The minister said that Odisha possesses 96 percent of India’s chromite reserves, 92 percent of its nickel reserves, 53 percent of its bauxite reserves, 45 percent of its manganese reserves, 35 percent of its iron-one reserves, and 23 percent of its coal reserves.
The proactive approach of the state government, led by Chief Minister Naveen Patnaik, the investment potential across industries, and the emphasis on ease of doing business were cited by Arun Chawla, Director General of FICCI, as the state’s main advantages.