A joint report published by JSW Steel and PwC India titled
“Economic possibilities for Odisha — towards a one trillion dollar economy”
hails the state’s economic potential. It states that Odisha’s strength in investment-friendly policies, infrastructural connectivity and skilled manpower has empowered them as a major manufacturing hub that can significantly aid in achieving the national objective.
The vision report emphasises on the unique competitive advantages of Odisha over other states and its potential to become the export hub for metal-based products across the world. Apart from the state’s mineral and metal-based industries, the other major contributors could include agriculture, food processing sector, creative industries, MSMEs and women entrepreneurship drives.
The state government had directed commercial banks in Odisha, earlier this February, to speed up sanctioning and disbursement of loans to MSMEs against pending loan applications. LN Gupta, Additional Chief Secretary, MSME, had passed these instructions to bankers at a sub-committee meeting of the State Level Bankers’ Committee (SLBC) on MSMEs. Interestingly, Rs 51 crores were distributed via the Prime Minister Employment Guarantee Programme (PMEGP) in 2018-19 for the promotion of 2,079 MSME units.
Sajjan Jindal chairman JSW group referred to Odisha as the hidden gem of India and emphasized the role of regional economies in achieving India’s goal of becoming a Ten Trillion Dollar Economy. Statistically, Odisha can help India become an economic powerhouse and exceed all its goals by optimally utilizing the resources in the metals and allied sectors.