By Bizodisha Bureau, Bhubaneswar, December 2, 2019: At a time when there is visible economic slowdown, Odisha has been able to attract more investments in 2019, following two mega industrial ‘Make in Odisha’ conclaves.

The State has attracted an investment of Rs 26,687 crore till October this year and emerged as fourth top state after Gujarat, Karnataka and Maharashtra. In 2019, Odisha bagged over 6.2 per cent of total investment amount made nationally vis-a-vis mere 1.8 per cent in 2017 and 3.5 per cent in 2018.

Odisha was not in the top-10 private investment destinations in the year 2017 and 2018. Incidentally, the investments committed for the state biscuits, garments to metals and chemicals, storage to renewable energy et al allude to the State shaping up back to regain its form.

During January-October 2019, Odisha saw investment proposals (not oral commitments) counted at 64 making commitments to invest Rs 26, 687 crore. And the production or commencement of the projects has taken place in 7 such proposals with a total investment of Rs 13,284 crore, shows the data with State Directorate of Industries.

In contrast, the record had been pathetic during 2017 and 2018. The rate of implementation of industrial proposals had been mere 2.6 per cent and 24 per cent, respectively.

As per the available data, Odisha saw investment proposals filed worth Rs 16,338 crore in fiscal year 2018-19 compared to Rs 4,872 crore in 2017-18. The stats reveal that private investment flow into State has apparently picked up in the last fiscal year 2018-19. Incidentally, Odisha held its ‘Make in Odisha’ business summit in 2018.

While in the year 2018-19, State bagged maximum investments in metal & refractory industry sector, investments have come into the green renewable energy sector (solar energy) by big industrial houses like Aditya Birla and IMFA.

Investments have also flowed into futuristic auto sector (electric vehicles) chemical, petroleum, garments, hotels and real estate etc. Proposals have tricked in pharma and storage industries.

However, the State is yet to make a big dent in electrical equipment sector, which has been country’s top investment draw since 2015.

An analysis of the investment proposals filed in 2018 and 2019 till October reveals that the investment flow has basically concentrated in 12 districts. Maximum proposals have been bagged by districts like Sundargarh, Sambalpur, Cuttack, Jajpur, Khurda and Rayagada.