March 07 , 2014
Latest update: August, 2013
Last Updated: August, 2013
ODISHA State Report | August, 2013
Odisha is located in the eastern region of India. The state shares its borders with West Bengal in the north-east, Jharkhand in the north, Andhra Pradesh in the south, Chhattisgarh in the west, and the Bay of Bengal in the east.
The state’s economy witnessed high growth rates between 2004-05 and 2012-13, with gross state domestic product (GSDP) expanding at a compound annual growth rate (CAGR) of 16.2 per cent.
Odisha has emerged as a key state with regards to the mineral- and metal-based industries. The state leads in iron, steel, ferroalloy and aluminium production and has a strong base for coal-based power generation. The mining sector accounted for 6.6 per cent of Odisha’s GSDP during FY’12 and grew at an average rate of 6.7 per cent during FY 2006-12.
The state has a well-developed social, physical and industrial infrastructure, and the state government has undertaken several infrastructural projects to further promote overall development. The state’s infrastructure includes well-connected road and rail networks, airports, ports, power, and telecom.
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 micro, small and medium enterprises. The state government has constituted ‘Team Odisha’ to help with investment promotion.