With its abundant mineral resources, long coastline, plentiful inland waters and diverse forest wealth, Orissa has the potential to attract industrial investments. The state government has reaffirmed its commitment to transform Orissa into a vibrant industrial state and has therefore reformulated the Industrial Policy in December 2001 and passed the Industrial Policy Resolution 2001 (IPR 2001) which envisages to –:
- Create a business climate conducive to accelerate investment in industry and infrastructure projects.
- Raise income, employment and economic growth in the state.
- Reduce regional disparities in economic development within the state.
- Deregulate the business environment.
- Implement and operationalise single window mechanism for industrial clearances.
- Ensure balanced utilization of the natural resources for sustainable development.
- Downstream industries in steel, aluminum & Petro-chemical sectors
- Mineral processing and value addition
- Chemicals & fertilisers
- Agro & food processing industries
- Handicrafts & handloom
- Export oriented industries
- IT industries
Self Employment Package
Sales Tax Reimbursement
All eligible new SSI units and existing SSI units taking up expansion/modernisation/ diversification located in industrially backward areas and which started commercial production between 1st April 2003 and 31st March 2007 are eligible for sales tax reimbursement for a period of 5 years limited to 100% Fixed Capital Investment.
All eligible new SSI units / existing SSI units taking up expansion/modernisation/ diversification / sick industrial units availing additional term loan are entitled to avail interest subsidy at 5% of term loan per annum for a period of 5 years limited to Rs.1 lakh per unit, provided commercial production commenced after 1st April 2003 and 31st March 2007.
Capital Investment Subsidy
All eligible new SSI units/existing SSI units taking up expansion/modernisation/ diversification located in industrially backward areas are eligible to avail capital investment subsidy at 15% of Fixed Capital Investment limited to Rs.10 lakh.
SSI units in approved clusters/priority sector/ancillary sector in other areas which have started commercial production on or after 1st April 2003 to 31st July 2007 will get capital investment subsidy at 10% of the Fixed Capital Investment limited to Rs.10 lakh.