Odisha industrial policy mulls more sops for investors.

The Odisha government is working on additional incentives for investors in its upcoming industrial policy in the form of capital goods investment subsidy, electricity tariff reimbursement, and land at a highly concessional rate. The state government is expecting investments to the tune of ₹50,000 crore in mining, metals, downstream and ancillary industries over the next four to five years.

According to Hemant Kumar Sharma, Principal Secretary, Odisha Industries department, there is a proposal to declare both downstream and ancillary metal as a “priority sector”. The State has been witnessing a lot of traction in the mining, metal, downstream and ancillary sectors over the last two years.

“Odisha would be able to attract huge investment in mining as well as ancillary services and sectors in the next four to five years. In ancillary and downstream together, we are expecting (investments) no less than ₹50,000 crore over the next five years,” Sharma told BusinessLine.

The state government is looking to provide additional incentives in the form of capital goods investment subsidy, electricity tariff reimbursement, exemption from electricity duty, land at a highly concessional rate, exemption from stamp duty, and incentives for transportation in the industrial policy, which is likely to be finalised next month.

“We have to provide more incentives, better infrastructure support for the investors. In our upcoming industrial policy we have proposed that both downstream and ancillary metal be declared as a priority sector. We have kept financial incentives as well, for more companies to come to Odisha,” he said.

HBL