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.
The following are some of the major initiatives taken by the government to promote Odisha as an investment destination:
- A biopharma IT park at Bhubaneswar is being established under the public private partnership (PPP) model over a land area of 64.68 acres.
- A mega food park is being established near Bhubaneswar over 282 acres through the PPP mode. IDCO is the nodal agency for the establishment of this park.
- By the end of 2011-12, the state government had signed memoranda of understanding (MoUs) with 94 reputed investors across sectors for investments of around US$ 85 billion to set up industries in various sectors, such as steel, aluminium and cement.
- The 2014-15 Annual State Plan ceiling for the sector's development has been set at US$ 4.2 million.
- In order to strengthen the artisan-based enterprises in the handicrafts sector, 19 handicraft training centres are functioning in different districts.