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Odissa

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Orissa

February, 2011

Orissa has emerged as a key state with regards mineral-and metal-based industry. The state leads in iron, steel, ferroalloy and aluminium production. It also has a strong base for coal-based power generation. The state offers a wide range of fiscal and policy incentives for businesses under the Industrial Policy Resolution, 2007. Additionally, the state has sector-specific policies for IT, and the micro, small and medium enterprises (MSME).

Orissa is targeting 9 per cent annual economic growth during the Eleventh Five-Year Plan period (2007-2012). Much of this growth is expected to come from the secondary sector (manufacturing), which is anticipated to grow at a rate of 6 to 10 per cent.

At current prices, the total Gross State Domestic Product (GSDP) of Orissa was about US$ 31.8 billion in 2009-2010. The average GSDP growth rate between 1999-2000 and 2009-2010 was about 13.2 per cent.

Orissa‟s total exports were US$ 3.0 billion in 2008-09. Exports increased at a CAGR of 29.2 per cent between 2001-02 and 2008-09. Orissa has been a major exporter of mineral and metallurgical products, accounting for 52.4 per cent and 32.9 per cent of the state‟s total exports, respectively. The State Government has identified some sectors for export promotion and facilitation. These are agriculture and processed food products, readymade garments, electronics, IT, engineering goods, arts and crafts, and minerals and mineral-based products.

From April 2000 to May 2010, the state received FDI inflows of US$ 246 million. Two memorandums of understanding (MoU) have been signed for setting up (two) alumina refineries at an expected investment of US$ 5.4 billion. The major investors in the metals sector are Tata Steel, Pohang Iron and Steel Company, Arcelor-Mittal, the Bhushan Group, the Jindal Group, Essar Steel, Hindalco, Vedanta, Aditya Aluminium, L&T-Dubal, Sterlite Iron and Steel, Welspun Power & Steel and Uttam Galva Steels.

State Presentation (November 2010)

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