Odisha generates investors’ interest at DefExpo 2016

Goa: Odisha has received investment inquiries from corporate majors Rolls Royce, Lockheed Martin, Bharat Forge, Chivaro Technologies, Samtel and Ashok Leyland.

The inquiries came at the ongoing DefExpo 2016 in Goa where Odisha is participating as a partner state.

Baba Kalyani, CMD Bharat Forge and Phil Shaw, CEO, Lockheed Martin, are expected to visit Odisha soon to carry the discussion forward. The initiative of the state government is in line with the keenness of chief minister Naveen Patnaik to develop Odisha into a manufacturing hub of the Eastern Region.

It is relevant to mention that Odisha has 17 percent share of live investments in the country as per the recent report published by ASSOCHAM.

Earlier in the day, Odisha participated in the INDIA-UK round table organised by CII and the Association of Defence Industries of UK.
The range of investment opportunities in Odisha were highlighted in both the events.

The seminar was also addressed by Yashodhara Raje Scindia, Commerce, Industry and Employment minister of Madhya Pradesh, Baba Kalyani, Chairman CII National Committee, Bharat Harbanslal Khera, Joint Secretary, Defence Offset Management Wing, Department of Defence Production, and Ashok Kumar Gupta, secretary (Defence Production), ministry of Defence.

On the second day of the exhibition, Sanjeev Chopra, Principal Secretary, Industries, Odisha made a presentation in the Defence Offset seminar. It covered the policy enablers: IPR 2015 and SEZ Policy 2015 and the industrial infrastructure available. The policy on setting up industrial parks in the private sector was also detailed.

At the inaugural session, Defence minister Manohar Parrikar unveiled the Defence Procurement Policy (DPP), 2016. The revised DPP envisages providing a boost to the “Make in India” initiative, enhance the role of the private sector. It also has a new category called Indigenous Design Development and Manufacturing (IDDM) under which equipment with minimum 40 percent ingenuously designed and manufactured components will be given topmost priority. This is expected to benefit states like Odisha which have a conducive ecosystem for manufacturing in Defence sector.

The four-day exhibition, which kicked off on March 28, will conclude today. Organised by the Defence Exhibition Organisation of the Ministry of Defence, Defexpo India 2016 is the ninth in the series of biennial Land, Naval and Internal Homeland Security Systems Exhibition.