ASSOCHAM ranks Odisha as No 1 in investment implementation rate

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OdishaAs per the latest study by apex industry body ASSOCHAM, Odisha has been ranked as numero uno in investment implementation rate. The state is also the third largest investment destination in the country after Maharshtra and Gujrat.  

Lauding this ranking of industry body, Chief Minister of Odisha Naveen Patnaik said the ranking is an acknowledgement of states industry friendly policies and enablement Ease of Doing Business – EODB in ensuring investment implementations are faster and easier. He reiterated his government’s commitment to all round industrial development in the state in a message in the social media.

Earlier, sharing the findings of the study, Assocham secretary general DS Rawat said in a release that the investment implementation rate has gone up in Odisha, which happens to be the third largest investment destination in the country. Earlier the under-implementation rate was 75 percent and it has now come down to 43 percent.

As per a recent study by the apex industry body, the State has around 900 live projects which have attracted nearly Rs 13 lakh crore investments out of around Rs 177 lakh crore in the country.

The investments made in food processing and infrastructure sectors will create more value addition for the State. The Government has to be aggressive in marketing its policies abroad and try to get more investments, the study said.

Also Read: Gujarat focus sectors : Ports & Maritime

Odisha has notified 14 non-major ports of which two are functional at Dhamra and Gopalpur. The cargo handling capacity of the two ports has grown from five million tonnes to 25 million tonnes in the last five years.

Expanding the finding of the study, Assocham chief advisor Dr Arvind Kumar said the State can become gateway port for Asian and East Asian region for its potential and ancient maritime links.

Paradip port is the second largest in the country and it handles about 90 million tonnes of cargo. The advantage of Paradip and Dhamra ports is that both have sufficient draft, which can handle huge container vessels.

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