Industries Minister Pratap Keshari Deb said on Thursday that Odisha is one of the fastest-growing economies in India as it became a "destination of choice" for businesses in the metal and allied sectors due to natural resources.
Deb underlined that the government took proactive measures to broaden the industrial ecosystem in the state with a focus on sectors like chemicals and petrochemicals, textiles, and apparel.
He pointed out that the manufacturing sector grew by 14.3 percent in the 2021-22 financial year, while the mining segment registered a growth of 18.1 percent.
"The state has grown by 10.1 percent (last fiscal), making it one of the fastest-growing economies in India," Deb said at an event in Bhubaneswar where the government signed a memorandum of understanding with the Federation of Indian Chambers of Commerce and Industry.
"Odisha has 96 percent of India's chromite reserves, 92 percent nickel, 53 percent bauxite, 45 percent manganese, 35 percent iron ore, and 23 percent coal reserves. This has made Odisha the largest producer of steel, stainless steel, ferroalloys, alumina, and aluminum in the country," Deb said.
The Industrial Promotion and Investment Corporation of Odisha signed the agreement with Ficci, allowing the business association the industry partner for the Make in Odisha Conclave scheduled to be held from November 30 to December 4.
Deb said the first such event in 2016 received over Rs 2 lakh crore of investment proposals and the second edition got over Rs 4 lakh crore.
"The goal of this year's conclave is to surpass all the expectations and more importantly, to firmly put Odisha on the global map," he added.
(Inputs from PTI)
