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IPICOL Pacts For MiO

Bhubaneswar: State-run Industrial Promotion and Investment Corporation of Odisha (IPICOL) on Thursday signed an MoU with Federation of Indian Chambers of Commerce & Industry (FICCI) making FICCI as national industry partner for the Make in Odisha Conclave 2022.

The mega business Conclave is scheduled to be held from November 30 to December 4 here.

The MoU signing ceremony was attended by Minister for Industries, MSME & Energy, Pratap Keshari Deb. Principal Secretary, Industries, Hemant Sharma, Director General, FICCI, Arun Chawla and senior officers of IPICOL & FICCI.

In the introductory remarks, Mr.Sharma underlined the fact that Make in Odisha is the most enterprising event in Odisha, attracting investors, entrepreneurs and industrialists alike.

The preceding two events have already had a tremendous impact by making Odisha the preferred investment destination. The trend will continue this year, and the conclave will reach new heights, bringing more investments and job opportunities to the State, he said.

Speaking about the Make in Odisha conclave, Mr.Deb said, “This is going to be the third edition of the Make in Odisha Conclave. The first MIO in 2016 witnessed an overwhelming response receiving over Rs 2 lakh crores worth of investment intent. Over 5000 delegates participated in it and it had over 50 speakers from across the globe.”

In the second edition it was over Rs 4 lakh crores of investment intent, the goal of this year’s conclave is to surpass all the expectations and more importantly, to firmly put Odisha on the global map, he said.

The Minister also stated that the state has grown at 10.1% making it one of the fastest growing economies in India. Manufacturing sector with 56% share in Industrial GSVA grew at 14.3% in 2021-22 while mining sector with 21% share registered 18.1% growth.

He also drew the attention towards the fact that Odisha has become a destination of choice for industries in the metal and allied sectors owing to our natural resources and ecosystem advantage.

The Government has proactively taken measures to broad-base the industrial ecosystem in the state, with focus sectors like chemicals and petrochemicals, textiles and apparel among others, said Deb.

Speaking about the natural resources, he said “Odisha has 96 percent of India’s chromite reserves, 92 percent nickel reserves, 53 percent bauxite, 45 percent manganese, 35 percent iron-one, and 23 percent coal reserves.  This has made Odisha the largest producer of Steel, Stainless Steel, Ferro Alloys, Alumina, and Aluminium in India.”

Arun Chawla from FICCI highlighted the visionary leadership of Chief Minister Naveen Patnaik, immense investment potential across sectors, proactive approach of the State Government officials and focus on ease of doing business as the key strengths of Odisha.

He also mentioned that “FICCI will leverage its sectoral expertise; tremendous industry connections and experience for the successful organization of the event.”

In his concluding remarks, Bhupendra Singh Poonia, MD, IPICOL thanked all the dignitaries for gracing the occasion and conveyed the commitment of IPICOL for creating and executing tangible milestones in furtherance of this MoU.