Hyderabad: As many as 24 Hyderabad-based companies have shown interest to investment in Odisha.
The state industries principal secretary, Sanjeev Chopra, hosted an investors meet, here on Thursday.
The 24 companies have agreed to explore business opportunities in Odisha, said Chopra. “We are positive about attracting significant investments from Hyderabad-based companies in the near future,” he added.
The principal secretary and his team showcased the inherent advantages of investing in Odisha. Odisha’s focus sectors are food processing and seafood, ancillary and downstream industries in metals sector, textiles, ESDM manufacturing, chemicals, plastics and petrochemicals.
Chopra said: We are pleased to receive an encouraging response from the business community of Hyderabad. Odisha’s investor-friendly policies and the development of world-class infrastructure have received very positive feedback from investors across the country as we have been able to create an ideal business ecosystem for various sectors to flourish in the state.
Odisha has made significant strides in implementing the ease of doing business reforms with the compliance percentage going up significantly from 52.12% in 2015 to 97.83% in 2017. The average time taken for approval of the projects has been reduced to 20 days from the date of receipt of completed project application. During the meetings with investors, the strategic advantages of Odisha were highlighted such as the low cost of doing business, incentives for investors, dedicated sector-specific clusters and over 1,21,000 acres of land bank available for industrial development.