Govt eyes diversification to drive eco growth

BHUBANESWAR: Not content with attracting investments in mining and metallurgical sectors, the state government is now shifting focus on diversification of industries to accelerate economic growth and employment generation.
A day after the state-level single window clearance authority cleared three grain-based ethanol plants, state industries department sources said they are looking for more investors in the chemicals sector besides focusing on two other sectors like speciality steel (alloy steel used in downstream industries) and food processing.
“We are, of course, focussing on mining and metal sectors as Odisha has the natural advantage. Given that we are also looking at huge investment option in Odisha in sectors like chemicals, speciality steel and food processing, we will continue to focus on these sectors at least for the next six months,” state industries secretary Hemant Sharma said.
The industries secretary said they are reaching out to investors in speciality steel sector by creating facilities for them at Kalinganagar and nearby places for growth of ancillary and downstream industries. Sharma said they are expecting sizeable investments in these three sectors in the next few months.
While several big players in the food processing sector have already set up units in the state and are on expansion mode, the industries secretary said they are in touch with more investors from the sector. “
All these three sectors we are currently focussing on have huge potential for employment generation and adding value to the state’s economy,” said Sharma. Experts said the state should also explore investments in logistics and warehousing sector, which has tremendous potential of growth because of the proposed industrial corridors and growth of ports.
Chief minister Naveen Patnaik had recently said that the policy framework and facilitation mechanism of Odisha has been successful in mobilizing investments in diverse sectors such as petrochemicals, food processing, apparel and garment. Naveen said the ongoing diversification of industrial base will further improve employment opportunities in Odisha.