Odisha govt approves 7 policies to attract investment and boost economy


Ahead of the Make In Odisha Conclave, the  government has approved at least seven different policies to attract investment in the state and boost the economy.

The decision regarding the State Cabinet approving seven policies and other decisions was announced by Revenue and Disaster management minister Pramila Mallick in the Assembly on Wednesday.

The Cabinet at its 52nd meeting on Tuesday approved 17 proposals including seven policies.

The policies which have been approved were: Registered Vehicle Scrapping Facility Policy-2022, Industrial Policy Resolution (IPR) 2022, Odisha Logistics Policy 2022, Odisha Apparel and Technical Textiles Policy-2022, Export Promotion Policy 2022, Odisha Civil Aviation Policy 2022 and Odisha Tourism Policy 2022.

The new Registered Vehicle Scrapping Facility Policy-2022 is expected to play a major role in reducing vehicular air pollution and boost manufacture in the automobile sector. As per the provision, all old vehicles that have completed 15 years will be scrapped at the scrapping centre. Vehicle owners will get incentives to buy new vehicles.

The Cabinet has also approved Industrial Policy Resolution (IPR) 2022 for next five years. This policy aims to transform Odisha into “Industrial Hub of Eastern India” by promoting industries in thrust and priority sectors of the state.

The Odisha Logistics Policy 2022 is also expected to create integrated logistics system to enhance competitiveness, operational efficiency and sustainability. The policy is expected to strengthen Odisha’s position as a preferred destination for trade and commerce.

The policy aims to map, develop and augment logistics facilities across the state, improve efficiency of supply chain, decarbonise logistics sector. It will also facilitate private sector investment which will lead to employment generation in Odisha, a press note said.

The Odisha Apparel and Technical Textiles Policy-2022 will boost employment and enhance economic growth in the state. The policy includes incentives like Capital Investment Subsidy, Employment Cost Subsidy and Market Development Initiative.

Similarly, the Export Promotion Policy 2022 will take Odisha to the league of top five exporting states, achieve an export target of Rs 3.5 lakh crore by 2026-27. The policy provision aims diversification of Odisha’s export basket by facilitating value addition, it said.

The Odisha Tourism Policy 2022 also aims to make tourism and hospitality sector attractive for investors. The policy promotes sustainable and responsible tourism, and focuses on accelerated development of tourism sector.

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