Addressing the National Level CII Mining and Construction Equipment Summit here on Friday, Chief Secretary Pradeep Kumar Jena said over the past three years, Odisha has seen a significant increase in mining revenue from Rs 10,000 crore to Rs 49,000 crore in the last year.
Jena extended an invitation to investors to participate in the State’s development. He also highlighted the various incentives offered in the Industrial Policy Resolution (IPR).
Union Ministry of Road Transport and Highways Secretary Anurag Jain discussed infrastructure development in the country. Mentioning that the logistic cost gets 14% of the national GDP in comparison to the international standards of 8%, he called for the urgency of a policy to mitigate the cost and advocate for establishing Research and Development Centres in India.
Principal Secretary Industries, Hemant Sharma highlighted the political stability and skilled workforce in the State, making it an attractive destination for investors.
Odisha ranked 2nd in the country in attracting investment of Rs 20.1 lakh crore in FY ’23 and 3rd in attracting bank-assisted investment proposals in the same period of time, Sharma said.
Saying that, Odisha produces 13.8% of the total value of mineral production in the country, he outlined that the mining and metallurgy sector contributes more than 13% to the GSDP of the State.
Steel manufacturing in the State will increase into 138 MMT in 2030 from the current capacity of 34 MMT. Similarly, the Aluminium production capacity will grow to 3.84 MMT in 2030 from the current capacity of 2.64 MMT. Besides this, he mentioned about the Long-Term Linkage Policy of minerals.
Additional Chief Secretary, Steel and Mines, DK Singh made the audience aware about the concern of the environmental depreciation and talked about sustainability and the intergenerational equity and suggested the mining stakeholders to use the efficient infrastructure promoting eco-friendly mining.
CII Eastern Region Chairman Shiv Siddhant Narayan Kaul acknowledged the joint efforts of the Government of Odisha, CII, and industries in removing regional bottlenecks to facilitate investment.
Vivek Bhatia from CII emphasized the global significance of the mining.
He pointed out the sector’s potential to reach $190 billion by 2028, with a growth rate of 2.8 percent per year.