ORISSA A
FOREMOST
PLACE FOR INVESTMENT
By A Correspondent
Orissa is about to embark on
a process of change, which will contribute, to the economic development,
growth and prosperity. The state government has ambitious plans to reposition
Orissa as one of the foremost place for investment. The opportunity to
look at a number of key issues relating to infrastructure needs to be addressed
by the state Government. This is a critical period since Orissa has been
devastated by the super cyclone and substantial investment is required
in order to rejuvenate the economic condition of the state. Orissa is strategically
situated contiguous with the states of South, Central and Eastern India.
The state has some intrinsic advantages in terms of substantial mineral
resources, a number of large rivers and a 480 km. long coastline. There
is a huge potential for the development of hydro and thermal power. The
easy availability of minerals enables the state to promote a large number
of mineral based, chemical and other industries. The opening up of these
opportunities will increase pressure on infrastructural facilities existing
in the state, thus opening up viable opportunities for investment in this
area.
The Government of Orissa is also
promoting some minor irrigation projects. With the completion of these
projects, the state will be in a commanding position in the harnessing
of the natural resources the state is endowed with. But the strategic location
of the state requires its roadways and railways to be modernised from time
to time. At the same time, the Paradip Port gives access to markets of
South-East Asia.
The reforms of the power sector
in Orissa really took off in 1995 with the passing of the Electricity Reform
Act. In 1996, the Orissa Electricity Regulatory Commission (OERC), the
first independent state electricity regulatory authority in India was established
and the business of the Orissa state Electricity Board (OSEB) was bifurcated
into OHPC (generation) and GRIDCO (transmission and distribution).
There is also lot of interest
generated by Orissa's prospects for economic growth. Orissa has considerable
resources of minerals. There is considerable infrastructure development,
which are opening up communications within the state and to the rest of
India.
Bhubaneswar is a modern and well-planned
city, which has been successful in attracting new industries particularly
in the high growth Technology Sector. At the same time agricultural consumption
of electricity is low and recent research has demonstrated that tariffs
in Orissa remain comparatively low compared with other states.
| There is also
lot of interest generated by Orissa’s prospects forEconomic growth. Orissa
has considerable resources of minerals. |
Orissa Government have announced
a new IT Policy and invited IT giants like Microsoft, IBM and others to
the state. Besides these Orissa can emerge as a superb tourism destination.
Orissa does not lack anything. It has all the potentials. Orissa can have
an idyllic setting, a beautiful structure where people can come and enjoy.
Though not commensurate with
the potentials, Orissa has a few facilities for the tourists. During the
last two decades, the transport facilities by air and rail have considerably
improved as also the local transport by road. The Orissa Tourism Policy
1997 have laid emphasis on encouraging the private sector for investing
in tourism infrastructure. Orissa was the first state to declare hotel
as an industry in 1980 following which the number of hotels have increased
from 188 to 694 and a lot more are in the pipeline. Hotels have also been
declared as public utility service under the ID Act.
Orissa remains essentially an
agrarian state. But the problem is that agriculture in the state is highly
dependent on monsoon. For this reason, the government plan to bring the
cultivated land under irrigation.In one word, Orissa is going to emerge
as one of the first ranking states in the country. Nobody can stop this
emergence. |