January 30, 2020

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Top bureaucrats dazzle at Investment Roadshow

Top Bureaucrats Dazzle at Investment Roadshow
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Three of Odisha’s most sought after bureaucrats(Top bureaucrats dazzle at Investment Roadshow)- industries & MSME secretary Hemant Sharma, IPICOL MD Nitin BhanudasJawale and Manoj Mishra, secretary (Electronics & IT) rolled out the red carpet for investors across sectors at an Investment Roadshow organized in New Delhi recently.

As the countdown to ‘Make in Odisha 3.0’ to be staged from November 30 to December 4 has begun, Team Odisha is pulling all stops to woo investors of all shades and hues. Earlier, the state delegation had hosted an investors’ meet at Bengaluru where one-to-one meetings were organized with representatives of 20 companies.

The latest investor roadshow in Delhi was meant to showcase Odisha’s strengths especially in electronics and IT sectors. The event was attended by representatives from the IT and Electronics industry based in the National Capital Region.

The investment meet is part of Odisha Government’s initiative to connect with potential investors in the lead up to the third edition of the biennial investment conclave ‘Make in Odisha’ (MIO) scheduled from November 30 to December 4 this year.

A string of reforms to ease and facilitate industrial infrastructure and commitment to cut down carbon footprint through the distribution of LED bulbs helped Odisha climb up the rankings of NitiAayog’s Index. The states were appraised on the basis of efforts made to achieving the mandated Sustainable Development Goals (SDGs) by 2030.

According to a recent NitiAayog report, Odisha is the second-fastest mover state with a score of 58. 2019 witnessed Odisha gaining nine points as its score moved up from 51 in 2018.

“Odisha is known to be one of the first state to get the top four IT companies to set up centers on its turf. Our next phase is to ramp-up information technology (IT) and ITes (IT enabled services). In its geographic location, Odisha has many inherent advantages. We have an abundance of rivers and some well-developed ports”, said Sharma.

Speaking on the occasion, the Ipicol MD Jawale said, “Odisha has progressed industrially and we are at a very good position now. We are expecting further investments in 2020. Recognizing the importance of ESDM the government has announced a special incentive package scheme for the sector comprising of subsidy on fixed capital investment for plant & machinery, exemption from Entry Tax on acquisition of machinery and equipment, Training subsidy, etc. We are very hopeful that we will be able to establish ourselves as the premier industrialized state in the country.”

“Odisha is en route to emerging as one of the most favored destinations for IT and electronics investments. The government has recast its existing Information & Communications Technology (ICT) policy. In the reformulated policy, the government is offering reimbursement of the Goods & Services Tax (GST), both to new and existing units. Post the policy amendment, new units in IT, ITes and ESDM verticals can avail reimbursement on State GST for five years from the date of commercial operations. Existing units can also avail the benefit if they opt for expansion, modernization and expansion, but it would only apply to enhanced production over and above the current rated capacity and limited to 100 per cent of the additional cost of plant and machinery”, said Manoj Mishra.

“Efforts are also underway to develop air cargo facilities to fulfil industry requirements.  In addition, the state government has developed an electronics manufacturing cluster (EMC) straddling 207 acres at Bhubaneswar’s periphery. The cluster provides plug and play work ambiance where investors can walk in and start businesses without ado”, Mishra added.

The roadshow focused on how the state is growing and attracting investments in the IT and Electronics sector. India is one of the major contributors to the international IT services market. The IT industry is expected to grow by 15 percent in the future and India will be a major software exporter. The State has created state-of-the-art infrastructure facilities equipped with plug-n-play facilities and abundant power supply to ensure the smooth operation of the IT sector. Odisha has attracted some of the largest IT companies in India. Bhubaneswar is home to the four largest IT companies in India, TCS, Infosys, Wipro, and TechMahindra.

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