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Odisha Boosts Logistic Sector

Bhubaneswar: On Day 2 of ‘Make in Odisha Conclave 2022’, one of the largest investment summits in India, Business Leadership Session on Modern Age Logistics was held in the presence of investors, interested public and officers from the Department of Commerce & Transport.

A total number of 250 participants, including various business persons, Government officials, students etc. took part in the session. In today’s world, Logistics is considered to be the backbone of an economy.

 Logistics is a significant part of supply management and refers to a robust network of roadways, airways, and waterways engaged in the storage, management, transportation and delivery of products from the point of origin to the point of termination.

The Indian Logistics Industry contributes significantly to the economy and expected to grow at a CAGR of 10.5 percent by 2025. To improve State’s Logistics infrastructure and strengthen its competitive advantage, the Government of Odisha has increased investment in the infrastructure sector from 14.94% to 18.76% in the current year. Odisha is endowed with abundant reserve of high-grade iron ore, Bauxite, Chromite, Manganese ore and other minerals.

This has opened immense possibilities for locating mineral-based industries for manufacturing Steel, Ferro-alloys, Cement, aluminium etc. Energy security is one of the prime factors attracting investors and Odisha is a Power Surplus State.

An efficient logistics ecosystem always gives incremental growth in the economy. Speaking about the abundant opportunities in the state, Bishnupada Sethi, Principal Secretary, Commerce & Transport Department, Government of Odisha said, “Government of Odisha is emphasizing for strengthening Logistics Sector and intends to extend all possible support to the Investors. For benefit of the Investors as well as general public, a progressive Logistics Policy-2022 has been notified by the Government with the objective to create an efficient and competitive logistics ecosystem to support Odisha’s industrial growth through regulatory reforms and encourage private participation in developing integrated logistics facilities in the State.

Also, the Government of Odisha has notified the Odisha Port Policy, 2022. Under the Policy, the Government has formed the Odisha Maritime Board (OMB).

Experts like V.M. Muralidharan, CEO, Bahwan CyberTek, Subrat Barman and R P Mohanty spoke on the subject.