Eight policies approved ahead of Make in Odisha conclave

Bhubaneswar, Nov 22 (IANS) Ahead of the Make in Odisha conclave, the Odisha government on Tuesday approved eight policies in order to attract large investments to the state, an official said.

A meeting of the cabinet, chaired by Chief Minister Naveen Patnaik, approved eight policies relating to tourism, MSME, food processing, renewable energy, handloom, apparel, pharmaceuticals and biotechnology.

“The policies have been approved keeping an eye on the Make in Odisha conclave scheduled to begin from November 30. The policies aim to attract investments to the state,” said Chief Secretary Aditya Prasad Padhi.

The conclave will begin on November 30 and conclude on December 2.

The state government has decided to provide various incentives to the investors to set up their projects in the state.

The renewable energy policy, which will remain in force until March 2022, envisages to achieve around 2,750 MW renewable energy from the non-conventional sources in the state by the year 2022.

The state government shall provide a corpus of Rs 250 crore (Rs 50 crore per year) over a period of five years for the creation of a revolving fund namely Odisha Renewable Energy Development Fund, said Padhi.

This fund will be utilised for development of infrastructure required for the accelerated development of renewable energy, he added.

Under Odisha apparel policy 2016, the state government has targeted to create one lakh to 1.5 lakh jobs in next five years.

“For apparel units where employment is minimum 200 workers, the unit will receive incentives of Rs 1,000 per worker per month on actual employment by the unit, on financial year basis. This facility will be available for a period of 36 months,” said the chief secretary.

The incentives would be provided subjected to 90 per cent workers from Odisha are engaged in the unit.

The state government also approved a handloom policy to promote entrepreneurs and enterprise development in the sector.

In the MSME policy, the state government has enhanced capital investment subsidy to new units from 10 per cent to 25 per cent subject to the upper limit of Rs 1 crore.

To boost the growth of MSM enterprises in industrial backward districts, an additional capital investment subsidy of 5 per cent would be provided.

The food processing policy proposes to set up 10 mega food parks at strategic locations. The policy provides 25 per cent capital investment subsidy limiting to a maximum of Rs 2 crore in ‘general’ area.

The capital investment subsidy to SC, ST and women entrepreneurs and those setting up food processing industry in the industrial backward districts is admissible at a higher rate of 33 per cent, said the chief secretary.

The tourism policy emphasises to develop Odisha as the ultimate tourist destination and to place it prominently on the domestic and international tourism map.

The government has created a land bank for the tourism sector for easy availability of land to the entrepreneurs at various tourist locations.

The pharmaceutical policy provides grants of 50 per cent of the total cost or ceiling of Rs 10 crore for development of greenfield pharmaceutical clusters, parks.

–IANS

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