Odisha Launches GO-EAST Policy to Accelerate Industrial Growth and Attract Investments

Odisha has unveiled the GO-EAST (Government of Odisha Eastern Investment Accelerator and Special Task Force) policy alongside with the key amendments to its Industrial Policy Resolution (IPR) 2022. This policy was announced by the Respectable Chief Minister Mohan Charan Majhi during the Confederation of Indian Industry (CII) Eastern Region Council meeting in Bhubaneswar. The initiative of the policy aims to attract fresh investments, speed up the project implementation and promote manufacturing in backward districts.

What is the GO-EAST Policy of Odisha?

The GO-EAST (Government of Odisha Eastern Investment Accelerator and Special Task Force) is the dedicated investment facilitation platform, which is designed to attract industries from eastern and northeastern India along with accelerating project approvals and successful implementation.

The initiative also aims to provide the investors with faster government support, transparent approvals and continuous monitoring of the industrial projects.

Key Features of GO-EAST

Single-window investment facilitation
Faster project approvals
Real-time investment tracking
Dedicated special GO-EAST Cell
Special Go SWIFT digital monitoring module
Investor support throughout the project implementation

Why State of Odisha introduced the GO-EAST initiative?

State aims to become the leading hub of Eastern India by attracting diversified investments beyond the its mining centre.

Respectable Chief Minister Majhi stated that eastern India set to become India’s next major growth engine and it also aligns with Honorable PM Modi’s vision of Purvodaya for the development of the eastern states.

Major Amendments to the Industrial Policy Resolution (IPR) 2022

The state government of Odisha has revised the Industrial Policy Resolution to encourage the industries beyond mining and mineral-based services.

Focus of 15 Backward Districts

The revised policy targets less industrialized districts of the state which include,

Balangir
Kalahandi
Nuapada
Kandhamal
Boudh
Gajapati
Other identified backward districts

Companies which will invest in these regions will receive the additional incentives to establish non mineral based industries.

What is the GO-EAST Cell and Go SWIFT Platform

To ensure efficient project execution, Odisha will establish a dedicated GO-EAST cell.

The government will also introduce the specialized Go SWIFT module and it will,

Track project approvals
Monitor the incentive disbursement
Review implementation progress
Improve transparency
Facilitate quicker government interventions

Major Investment Proposals Signed During Announcement

During the event, the State government signed multiple Memorandums of Understanding (MoUs) with seven companies, and these include a proposed investment of around ₹24,823 crore.

Some of the Key Investment Commitments