Odisha Holds Investors’ Meet for Textile & Apparel Sector in Bengaluru, Attracts Investment Intent worth Rs 11,500 Cr

Bhubaneswar: The Odisha Government has held an investment promotion roadshow, the Odisha Investors’ Meet in Bengaluru on May 17, with a special focus on the Textiles, Apparel, and Technical Textiles Sectors.

Chief Secretary Pradeep Kumar Jena, Industries Department Principal Secretary Hemant Sharma, Handloom, Textiles & Handicrafts Department Principal Secretary Arabinda Kumar Padhee, Handloom, Textiles & Handicraft Department Director Shovan Krishna Sahu and senior officials from the Industries department and IPICOL were present in the meeting, which was attended by over 100 delegates from various textile industries.

Odisha attracted investment intent worth nearly Rs 11,500 crore with an employment potential of 31,500 during the Investors meet.

Addressing the meet Chief Secretary, pointed out that “Odisha is one of the fastest growing economies in India and has consistently grown above the national average in the last decade and a half. Odisha is fast emerging as a major industrial destination in India because of the abundance of natural resources and strategic location which can cater to the ASEAN region. Odisha’s skilled and productive human resources, progressive policies, and strong resultoriented governance provide a unique ecosystem to their investors to set up their industrial units in the State”.

He invited all the Industry Captains; associations and their members present to come and explore Odisha as their next investment destination.

On the sidelines of the roadshow, the Chief Secretary met several investors from the Textiles and Apparel, Technical Textiles, and Wearables sectors as well as from the Metal and Metal Downstream, Agriculture Equipment Manufacturing, Logistics, Green Energy and Green Hydrogen.

Speaking at the meet, Industries Department Principal Secretary Hemant Sharma emphasized the industry readiness of the State and highlighted about over two decades of stable governance.

He highlighted about the State’s position in the EoDB ranking, the competitive cost of doing business, the impact of investment facilitation, best-in-class incentives and highly skilled human resources, which gives the State a distinct competitive advantage over others.

He also described about the various industrial parks and regions the Odisha has developed to provide best-in-class facilitation to investors across sectors.

Sharma also highlighted that the markets in Eastern and North-Eastern India are growing faster than other parts of the country and Odisha provides industries with the best facilities to set up units to cater to these markets.

Padhee spoke about the emerging Textile and Technical Textile ecosystem in the State. He talked about the growth-focused and future-oriented Apparel and Textile Policy 2022 brought in by Odisha to further strengthen the Apparel and Textile sector and attract new investments into the State.

He enlightened the audience about the technical textile and textiles parks in the State which offer industry-ready infrastructure to investors planning to invest in the State.

The meetings focused on the key offerings from the odisha Government and the various emerging opportunities in Odisha for investors across sectors.

Representatives from Shahi Exports and ABFRL shared their experience of investing and operating in Odisha. They highlighted the industrial infrastructure, single-window system and the support they have received from the state government. They said that they are excited to establish their presence in Odisha and contribute to the state’s economic growth and build long-lasting partnerships with local communities.

Rahul Jindal, Head Operations (Odisha), ABFRL informed the gathering that their plant in Odisha has now become even more cost effective than the apparel units in Bangladesh.

Kalyan C Mohanty, Executive Director, IPICOL concluded the session by extending his heartful regards towards all the investors for attending the Investors Meet. He urged the investors to look at Odisha as their next investment destination.