Odisha is ranked third with over seven per cent share in total live investments worth over Rs 177 lakh crore attracted by different sectors from public and private sources across India in the financial year 2017, stated a just-concluded State-specific study conducted by the country’s apex industry body Associated Chambers of Commerce and Industry of India (ASSOCHAM).
Releasing the study titled “Odisha- Economic growth and investment performance analysis,” at a Press conference here on Thursday, ASSOCHAM president Sandeep Jajodia said Odisha has attracted over 900 projects with live investments worth over Rs 13 lakh crore in 2017.
The study also stated that between 2012 and 2017, investments projects in manufacturing, construction and real estate sectors had recorded considerable improvement in terms of under implementation rate which has worsened in sectors like mining, electricity, non- financial services and irrigation.
Jajodia said Odisha should continue taking up implementation of projects on a war footing and that would further serve as an incentive for the industry, attract domestic and global investors in large numbers, generate jobs and lead to holistic development of the State.
In the report, ASSOCHAM has given some key suggestions like the State should play a catalytic role in promoting the food processing sector, so that the agricultural produce of the State can be used for manufacturing edible products as that would bring immense benefits for the State’s economy, help raise agricultural yields, create employment opportunities and raise standard of living of rural population.
Besides, the State Government should work towards increasing aquaculture production through focused research on increasing production, profitability, area under culture, intensification and diversification of species, the study stated.
Considering the tourist arrival in Odisha has increased by over 69 per cent between 2010 and 2016, ASSOCHAM has suggested for consequential development of infrastructure at tourist hotspots across the State, the study pointed out. National Council on Mines and Minerals chairman TK Chand and secretary general DS Rawat were also present.