Bhubaneswar: The Odisha government is planning to tweak its Industrial Policy Resolution (IPR) 2020 in order to accommodate concessions and employment-link incentives amid the changing economic scenario due to coronavirus outbreak.
Since many investors from across the world have shown interest in investing in Odisha, therefore, the new clauses are expected to restore their confidence in the state.
Notably, the government has approved investments worth Rs 9,000 crore so far despite the distressing circumstances. “For Korean companies, we have 300 acres ready at Infovalley on Bhubaneswar’s outskirts. Likewise, the state government has alienated 1200 acres of encumbrance free land at Dhenkanal for the potential Japanese investments. Odisha’s forte lies in providing encroachment free land as well as plug & play office space”, a state government official told Business Standard.
Meanwhile, the authorities are also devising strategies to attract companies that are thinking about moving out of China to establish their manufacturing hubs.
Apart from the global companies, the State Level Single Window Clearance Authority (SLSWCA) has so far approved three investment proposals of Indian companies including Kashvi International, Purosteel India Pvt Ltd, and Odisha Carriers & Trade.
These businesses will set up different manufacturing units related to steel, tubes & pipes PVD coating, and logistics parks cum fulfillment centres in the state, the official added.
Also Read: New Industries In Odisha & Bihar Can Boost Employment With Less Cost Amid Corona Pandemic: Experts
New Delhi: The Supreme Court on Friday pulled up the Central Bureau of Investigation (CBI)…
New Delhi: India has been given new wings to fly. That’s exactly what the Indian…
New Delhi: NASA astronaut Sunita Williams celebrated her 59th birthday aboard the International Space Station…
Puri: The Archaeological Survey of India (ASI) will conduct survey of Ratna Bhandar (the sacred…
Bhubaneswar: While police have registered a murder case in connection with the death of a…
New Delhi: A day before senior party leader and minister Atishi's taking oath as Delhi’s…
Noida: In a bizarre incident, a video—apparently of a lecture class of Amity University in…
New Delhi: The Supreme Court of India’s YouTube channel has reportedly been hacked, and news…