| Invest Odisha | |
|---|---|
| Country |  |
| Chief Minister | Naveen Patnaik |
| Key people | Government of Odisha |
| Status | Active |
Invest Odisha is part of the Ministry of Industries Administration of the Government of Odisha to promote national and foreign direct investment to Odisha. Invest Odisha is spearheading the investment promotion campaign for Odisha. This team was previously referred to as Team Odisha. Industrial facilitation and investment promotion are the key roles of Invest Odisha. [1]
POSCO is a South Korean steel-making company headquartered in Pohang, South Korea. It had an output of 42 million tonnes of crude steel in 2015, making it the world's fourth-largest steelmaker by this measure. In 2010, it was the world's largest steel manufacturing company by market value. Also, in 2012, it was named as the 146th world's largest corporations by the Fortune Global 500.
The Malaysian Investment Development Authority, abbreviated MIDA, previously known as Malaysian Industrial Development Authority is the government's principal agency to oversee and drive investment into the manufacturing and services sectors in Malaysia. Starting operations in 1967, MIDA was given the mandate to promote investments in the manufacturing and services sectors; and to advise the Ministry of International Trade and Industry (MITI) on industry matters including the formulation of related policies.
The Federation of Indian Chambers of Commerce & Industry (FICCI) is an association of business organisations in India. Established in 1927, on the advice of Mahatma Gandhi by GD Birla and Purshottamdas Thakurdas, it is the largest, oldest and the apex business organisation in India. It is a non-government, not-for-profit organisation. FICCI draws its membership from the corporate sector, both private and public, including SMEs and MNCs. The chamber has an indirect membership of over 250,000 companies from various regional chambers of commerce. It is involved in sector-specific business building, business promotion and networking. It is headquartered in the national capital New Delhi and has a presence in 12 states in India and 8 countries across the world.
Trade facilitation looks at how procedures and controls governing the movement of goods across national borders can be improved to reduce associated cost burdens and maximise efficiency while safeguarding legitimate regulatory objectives. Business costs may be a direct function of collecting information and submitting declarations or an indirect consequence of border checks in the form of delays and associated time penalties, forgone business opportunities and reduced competitiveness
The economy of Odisha is one of the fastest growing economy in India. According to 2014-15 economic survey, Odisha's gross state domestic product (GSDP) was expected to grow at 8.78%. Odisha has an agriculture-based economy which is in transition towards an industry and service-based economy. According to recent estimates, the size of Odisha's economy has increased by 122.27 per cent during the last six years in terms of the gross state domestic product (GSDP). Thereby, Odisha achieved an annual average growth rate of 6.23 per cent during that period. Odisha is also one of the top FDI destinations in India. In the fiscal year 2011–12, Odisha received investment proposals worth ₹49,527 crore. According to the Reserve Bank of India, It received ₹53,000 crore worth of new FDI commitments in the 2012-13 fiscal year.
Board of Investment (BOI) is the premier investment promotion agency of Pakistan working under the administrative control of the Prime Minister’s Office and is mandated to promote and facilitate both local & foreign investment. The Board of Investment is a member of the World Association of Investment Promotion Agencies (WAIPA).
The Department for Promotion of Industry and Internal Trade (DPIIT) is a central government department under the Ministry of Commerce and Industry. It is responsible for formulation and implementation of promotional and developmental measures for growth of the industrial sector, keeping in view the national priorities and socio-economic objectives. While individual administrative ministries look after the production, distribution, development and planning aspects of specific industries allocated to them, DPIIT is responsible for the overall industrial policy. It is also responsible for facilitating and increasing the foreign direct investment (FDI) flows to the country.
The Odisha Tourism Development Corporation (OTDC) is a Government of Odisha undertaking corporation in the Indian state of Odisha. It was incorporated in the year 1979 to promote tourism in the state and operate some of the existing tourist bungalows and transport fleets in commercial line. OTDC's Tourist Bungalows are called as Panthanivas.
The Industrial Promotion & Investment Corporation of Odisha Limited or IPICOL was incorporated on April 12, 1973 by the Government of Odisha to promote medium and large scale industries in the state by providing necessary support services including equity participation and long term financial assistance.
Make in India is an initiative by the Government of India to encourage companies to manufacture in India and incentivize dedicated investments into manufacturing. The policy approach was to create a conducive environment for investments, develop a modern and efficient infrastructure, and open up new sectors for foreign capital. The initiative targeted 25 economic sectors for job creation and skill enhancement, and aimed "to transform India into a global design and manufacturing hub."
A state-owned enterprise in India is called a public sector undertaking (PSU) or a public sector enterprise. Those companies that are owned by the union government of India or one of the many state or territorial governments or both. The company stock needs to be majority-owned by the government to be a PSU. PSUs strictly may be classified as central public sector enterprises or state level public enterprises (SLPEs). In 1951 there were just five enterprises in the public sector in India, but in March 2019 this had increased to 348. These enterprises represents total investment of 16,40, 628 cr as on 31st March, 2019. Total paid up capital as on 31 March, 2019 stands at 2,75,697. CPSE's have earned revenue of 25,43,370 during financial year 2018-19. They are administered by the Ministry of Heavy Industries and Public Enterprises.
The Industrial Policy Framework for the State of Telangana recognizes that Industrialization is recognized as a key source of the economic growth and development of the Indian state of Telangana. This framework came into force on 1 December 2014.
The Odisha Solar Conference (OSC) is a conference, the gathering of professionals to develop and promote solar power across Odisha. TiE, Bhubaneswar Chapter and Canyon Consultancy together organizes the Odisha Solar Conference every year to promote and create awareness amongst the local investors about the benefits from the solar industry. The conference is held every year in association with Odisha Electricity Regulatory Commission (OERC), Industrial Promotion & Investment Corporation of Odisha Limited (IPICOL), Grid Corporation of Odisha (GRIDCO) and supported by Ministry of New and Renewable Energy.
A foreign direct investment (FDI) is an investment in the form of a controlling ownership in a business in one country by an entity based in another country. It is thus distinguished from a foreign portfolio investment by a notion of direct control. Broadly, foreign direct investment includes "mergers and acquisitions, building new facilities, reinvesting profits earned from overseas operations, and intra company loans". FDI is the sum of equity capital, long-term capital, and short-term capital as shown in the balance of payments. FDI usually involves participation in management, joint-venture, transfer of technology and expertise. Stock of FDI is the net cumulative FDI for any given period. Direct investment excludes investment through purchase of shares.
Amitabh Kant is an IAS officer of the 1980 batch. As of June 2019, he is the CEO of NITI Aayog. NITI is a government institution for catalysing economic development.
Startup India is an initiative of the Government of India. The campaign was first announced by Indian Prime Minister, Narendra Modi during his 15 August 2015 address from the Red Fort, in New Delhi.
Visakhapatnam–Chennai Industrial Corridor (VCIC), also Vizag–Chennai Industrial Corridor, is a key part of the East Coast Economic Corridor (ECEC), India's first coastal corridor. VCIC is aligned with the Golden Quadrilateral and is poised to play a critical role in driving India’s Act East Policy and Make in India campaign. The nearly 800-kilometer corridor links India with the Association of Southeast Asian Nations (ASEAN) and East Asian economies that form the bedrock of global manufacturing economy. The corridor traverses nine districts of the state of Andhra Pradesh. VCIC intends to complement the ongoing efforts of the Government of Andhra Pradesh (GoAP) to enhance industrial growth and create high quality jobs.
Make in Odisha is an initiative launched by the Government of Odisha for industrial growth in the State. The major investors in the state are NTPC, MCL, SAIL, Tata Steel, TCS, Adani, JSPL, PPL, IOCL and many more. Over 80 companies investing and The state has received investment worth Rs 2,03,270 crore. Major investment sector are IT, fertiliser, petro chemicals, food processing, health, infrastructure, ESDM, metal and minerals, manufacturing, textiles and tourism. The Make in Odisha conclave happens bi-annually. There are two Make in Odisha conclaves completed with crores of investment proposals and the third edition will be held between 30 November to 4 December 2020.
The East Coast Economic Corridor (ECEC) is India’s first coastal economic corridor covering 2500km of India's coastline, to be developed with the help of the Asian Development Bank (ADB). The ADB is to invest $500 million in infrastructural development of the project. Since late 2013, ADB has been supporting studies on transport corridors in India. Phase 1 of the ECEC is Visakhapatnam-Chennai Industrial Corridor (VCIC) which had been approved by the ADB board in October 2016. The ECEC running along the entire east coast of India from Kolkata to Kanyakumari, is a multimodal, regional maritime corridor that can play a vital role in unifying the large domestic market, as well as integrating the Indian economy with the dynamic global value chains of Southeast and East Asia. It would play a crucial role in the Government of India’s (GoI) Make in India campaign and also supports the port-led industrialization strategy under the Sagar Mala initiative and the Act East Policy by linking domestic companies with the vibrant global production networks of East and Southeast Asia.
In 2019 the state government decided to provide subsidy up to Rs 2.5 crore to filmmakers of English, Hindi or other language films that would promote Odisha and its culture, heritage and tourist destinations in their films. The decision was taken to encourage the filmmakers to shoot in Odisha. To enhance the ease of filming and facilitate the development of related institutions, the Odisha State Film Policy, 2019 proposes to implement a single window approval process for shooting of films in the state. It is proposed that all proposals for film cities, multiplexes and cinema halls will be facilitated through the government's single window for investors facilitation and tracking portal.
