Electronics Manufacturing Cluster in Odisha gets investment commitment of Rs 914 crore

BHUBANESWAR: The Electronics Manufacturing Cluster (EMC) has received an investment commitment of about Rs 914 crore from seven land allottees with employment potential of 4,603 persons.

Responding to queries from BJD MP Sasmit Patra, Union Minister of State for Electronics and Information Technology Rajeev Chandrasekhar informed Rajya Sabha that the Odisha Industrial Development Corporation (IDCO) has been accorded approval for establishment of greenfield EMC in 2016 with project cost of Rs 200.76 crore including central grant-in-aid of Rs 93.09 crore.

"This EMC is poised to attract an investment of about Rs 979 crore and having potential to generate 10,000 employment opportunities. An investment commitment of about Rs 914 crore has already been received from seven land allottees with employment potential of 4,603 persons," the Minister said.

Under the Technology Incubation and Development of Entrepreneurs (TIDE 2.0) scheme, 2019 two incubation centres - KIIT Technology Business Incubator, KIIT University, Bhubaneswar and Foundation for Technology and Business Incubation (FTBI), NIT Rourkela - have been approved. As of now, about 15 startups have been on-boarded in both the centres.

He said that four STPI centres at Bhubaneswar, Berhampur, Rourkela and Balasore have been made operational. More than 250 IT/ ITeS companies including major giants like Infosys, TCS, Wipro, Tech Mahindra, Mindtree and Capgemini have registered under Software Technology Parks (STP) scheme and have their back office/branch office in Odisha. These IT/ITeS units located have exported about Rs 2,566 crore in 2021-22.

Four new STPI centres are coming up at Angul, Jajpur, Sambalpur and Jeypore for promoting tech startup ecosystem in the State.The Minister said that a Bhubaneswar STPI is one among the 12 Next Generation Incubation Scheme (NGIS) approved by the Ministry with a budgetary outlay of Rs 95.03 crore over a period of three years.