Make In Odisha Has Failed To Attract Investors: Experts

Bhubaneswar: Make in Odisha programme seems to have failed to achieve its desired objective as the flag ship scheme couldn’t generate the interest among investors that it should have, believe experts.

Recently, Industries Minister Dibya Sankar Mishra informed Odisha Assembly that a total of 84 proposals or investment intentions were received during the Make in Odisha, 2016 conclave. Out of the 84, only six proposals have been commissioned yet while 25 are in different stages of development. It means, only around one-third of the projects has so far seen the light of the day.

https://youtu.be/q_JANUvqvNs

To attract investors, the Industrial Promotion & Investment Corporation of Odisha (IPICOL) has reportedly spent over Rs 20 crore. Similarly, crores have also been spent towards advertisements in print and electronic media.

However, as per reports, a total of 286 investment intentions to the tune of Rs 6,26,349.53 crore were received during Make in Odisha conclave 2016 and 2018. Of the 286, 154 proposals were given single window clearance, but only 11 projects have been commissioned so far while works of 81 others at different stages of development.

As per industries and financial experts, trust issue is driving away investors from investing in Odisha. “Gone are the days when investors were coming at ease as they are now looking at several options across the world and India,” said industries expert, Bhabani Shankar Pani.

He further claimed that those from the State who are approaching the investors are unable to gain the latter’s confidence.

Ashok Kumar Sharda, vice-president of Utkal Chamber of Commerce and Industry, said, “Though single window clearance is there, it's just in principles as one has to make rounds of several departments for clearance."

Financial expert Panchanan Kanungo, however, alleged that the Odisha government has been misleading people since long in the name of Make in Odisha.

Comments of the concerned minister or department officials could not be obtained on the allegations.