Home Industry 11 Pacts With 23,389.43 CR Signed

11 Pacts With 23,389.43 CR Signed

Jharsuguda: On the first day of 24th edition of Enterprise Odisha organised by Government of Odisha in collaboration with CII has witnessed signing of 11 MoU by different organization with the Government of Odisha, reflecting a substantial investment commitment of Rs 23,389.43 crore.

The successful implementation of these projects is anticipated to generate employment opportunities for 15,168 individuals in the State.

In a video message, Chief Minister Naveen Patnaik said that this initiative is evidence of the dedication of the Government of Odisha to extend industrial development to every part of the state.

It is poised to narrow the developmental gap within the State, fostering stronger growth, the Chief Minister added.

According to Shri Patnaik, Jharsuguda, Rourkela, and Sambalpur have solidified their positions as pivotal contributors to development, not just within Odisha but on a national scale.

Delivering his Keynote Address, Asit Tripathy, Chairman, Western Odisha Development Council said that Jharsuguda is poised for rapid advancement with abundant opportunities, carving out a distinct place on Odisha’s industrial landscape and also emphasised that the government is actively involved in the Rs 7,000 crore investment in the development of the Biju Economic Corridor, recognizing significant potential in agriculture, tourism, and the industrial sectors in western Odisha.

Speaking on the occasion, Chief Secretary Pradeep Kumar Jena said that various agencies have estimated that the Indian economy is growing at a rapid pace, and it is going to become a $ 5 trillion economy in some years and aspire to become $ 30 trillion economy in the next few years.

According to the Chief Secretary, this will create huge opportunities for the entrepreneurs of the country, especially the young ones. He said that there is competition among States to come up with attractive policies and Odisha stands out in terms of implementing the policies and increasing the use of doing business in the State. Odisha is a revenue surplus state, he added.

Mr Jena further said that the Government of Odisha’s share of infrastructure investment in GSDP accounts for 6.5% and it aspires to grow at 7.5-8 per cent in coming years.

Over the past twenty years, he said, Jharsuguda has evolved into an emblem of a thriving Odisha.

The CS further stated that the state has transformed into a manufacturing powerhouse nationwide. Alongside abundant mining resources, the State boasts of significant human talent. The Biju Economic Corridor, linking Koraput to Jharsuguda, Sambalpur, and Rourkela, presents a substantial opportunity for entrepreneurs in the region to flourish, the Chief Secretary added.

Applauding CII for organising the largest event in Jharsuguda to date, Hemant Sharma, Principal Secretary, Industries, underscored that the selection of Jharsuguda as the venue is primarily attributed to its proximity to the steel and aluminium hub. Odisha’s steadfast dedication to its policies has positioned it as an attractive destination for investment, he added while addressing the delegates present at Enterprise Odisha.

At the 24th edition of this flagship initiative of CII, there were around 1000 plus participants, 150 exhibitors and 54 industry partners and important industry associations. 58 companies are participating from outside Odisha along with delegations and diplomats from Australia, Bangladesh, Nepal and Myanmar and industry captains from Odisha and across the country.

A Handbook on “Opportunities for MSMEs” was launched at the event.

The summit, spanning two days, is set to host numerous Government-to-Business (G2B) and Business-to-Business (B2B) meetings, leading to a potential increase in the volume of investment proposals.