“Revving the Investment Engine”- Bhupendra Singh Poonia, MD, Ipicol

Poonia is committed to providing high-quality infrastructure to both large-scale and MSME industries, especially for the small industrial units since they have immense employment potential.

by Soumayashree Mishra
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“Revving the Investment Engine”

Bhupendra Singh Poonia, MD, Ipicol

Bhupendra Singh Poonia is stealing the spotlight these days. As the Managing Director of Ipicol, the one-stop state agency for investment attraction and infrastructure facilitation, he is pulling all stops to peak investments ahead of the marquee ‘Make in Odisha’ conclave to be held later this month. Poonia has been playing a stellar role in revving up Odisha’s investment engine ever since he took over the mantle of Ipicol MD. He is also an indispensable part of the Team Odisha entourage at an array of roadshows organized in the run-up to the showpiece investment summit.

Poonia is committed to providing high-quality infrastructure to both large-scale and MSME industries, especially for the small industrial units since they have immense employment potential.

“Despite the COVID-19 pandemic, Odisha has received investment intentions of around Rs 4.5 lakh crores since January 2021. 250-plus projects from different sectors have been started in the state in the last 4 years. Some major sectors are receiving investments like Aluminum, Steel, Metal downstream, Chemicals, Plastics, Tourism, Textiles and Apparel, Food Processing, IT&ESDM, Power and Renewable Energy etc,” Poonia said.

“Ancillary and metal downstream along with textiles and apparel, food processing including seafood processing, chemicals, and petrochemicals, IT/ITeS/ESDM and Tourism have also been identified as focus sector,” he said.

Stating that IPOCOL has taken several measures to boost investments and interests in the state, Poonia said, “Odisha is a financially stable state and all facilitation provided by IPICOL is one of the best in the country. Ease of doing business along with skilled manpower is attracting the Industries.”

“Odisha has a good network of highways, Railways and Ports, so in the eastern seaboard, we have very good infrastructure. Similarly, we have the Biju Expressway from Rourkela to Nabarangpur. It will connect all western districts and will open up that area. There has been a huge investment and is still increasing in the irrigation, so it provides opportunities for agro-based industries and food processing”, he added.

“Our GSDP growth rate is around 10.1 per cent is more than the national average. The industries contribute around 30.1 per cent to our GSDP so that growth is 14.5 per cent. There was a contraction due to COVID in 2020-21 but as economic activities are picking up, we are receiving huge investment, so that’s why rebound is very good in the state of Odisha,” said he.

Poonia has previously served as the Chairman of the Council of Higher Secondary Education (CHSE) on Monday. In that capacity, he has rolled out a suite of reforms with a transformative impact on the education ecosystem.

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