Odisha forms inter-ministerial panel to implement investment proposals

State garnered Rs 3.5 lakh cr in investment intentions from its 'Make in Odisha' event last year

After bagging Rs 3.5 lakh crore of investment intents, the Odisha government has set up an inter-ministerial committee to expedite the implementation of the same.

Odisha, last year had successfully hosted the showpiece event — 'Make in Odisha' conclave and roadshows in Mumbai and Bengaluru. Total investment intentions from the three events are around Rs 3.5 lakh crore. At the roadshow in Mumbai in February 2016 under the aegis of Government of India's 'Make in India' week, 14 companies lined up investment plans worth Rs 70,959 crore. Similarly at the Global Investors' Summit in Bengaluru held last year, 29 companies have turned up with investment intentions totalling Rs 90,670 crore across sectors.

While the implementation of projects at the ground level always remaining a sore point, the committee headed by state industries minister is expected to speed up the translation of the intentions into formal proposals by investors and consequential implementation.

The other members of the committee include ministers from forest and environment department, MSME department, steel and mines and energy, electronics and IT department. The state chief secretary and development commissioner are also members of the 12 member panel along with secretaries of other departments. Principal secretary of the state industries department is the member-convenor.

The committee that will meet once in every month will review the progress of the implementation of investment proposals and apprise the status to the chief minister. Also, it will ensure inter-departmental coordination and resolve issues posed by the state-level single window clearance authority and timely approvals and clearance of different projects.

Official data shows most of the investment proposals bagged at the two meets have remained non-starters so far. With the exception of three to four companies- NLC Ltd (formerly Neyveli Lignite), Gitanjali Gems & Jewellery, ITC and Deepak Fertilisers, fresh investments by other companies have not even translated into formal proposals.