BHUBANESWAR: Minister of State for Industries and MSME Dibya Sankar Mishra on Monday invited investors to take the benefit of business reforms and state-of-the-art infrastructure facilities in Odisha and set up manufacturing units in the State.
Addressing a two-day summit on ‘Global Chemicals and Petrochemicals Manufacturing Hubs in India’ in Mumbai Mishra said chemicals and petrochemicals are one of the major priority sectors in Odisha.
“Odisha is an ideal destination for investment as it enjoys a stable political environment, has zero tolerance to corruption, low operation cost and a seamless single window scheme for faster clearance of projects,” Mishra said.
The State Government is giving special emphasis to the development of Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) at Paradip and has also developed a plastics park at Paradip, he added.
Investment in petrochemicals will help boost the State’s economy and bring a qualitative change in the lives of the poor and downtrodden.
The event was inaugurated by Union Minister of Chemicals and Fertilizers D V Sadananda Gowda.Making a presentation on chemicals and petrochemicals eco-system in Odisha, Industries and MSME Secretary Hemant Sharma said the coastal State is the most favourable investment destination in the country.
Stressing that all PCPIRs are in collaborative approach, Sharma said the real competition is with China, Vietnam and Singapore. He said Odisha enjoys a competitive advantage in terms of low manpower cost, conducive power tariffs and low cost of living.
Naturally endowed with coal, bauxite and chromium, Odisha is an ideal investment destination and with a revenue surplus budget which is well suited to address the concern of the industries, he added.
Andhra Pradesh Minister for Industries, Commerce and Information Technology Mekapati Goutham Reddy was the other speaker of the event.