Last Updated: March 10, 2014
Latest update: April, 2014
Last Updated: April, 2014
ODISHA State Report | March, 2014
Odisha is located in the eastern region of India. The state shares its borders with West Bengal on the north-east, Jharkhand on the north, Andhra Pradesh on the south, Chhattisgarh on the west, and the Bay of Bengal on 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. Odisha accounts for around 52 per cent of India’s bauxite reserves and is an ideal location for setting up aluminium-based companies. The state ranks first in the country in terms of both production capacity and actual output of aluminium.
Odisha 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.
Odisha 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.