Odisha is second most preferred investment destination in India: CMIE

Bhubaneswar: Odisha has emerged as the second most preferred investment destination in India, right after Maharashtra, as per a recent report by the Centre for Monitoring Indian Economy (CMIE).

In the fiscal year 2023, Odisha managed to draw investments worth Rs 20.1 lakh crore, whereas Maharashtra led with Rs 27.6 lakh crore during the same period.

Following Odisha, states such as Gujarat, Andhra Pradesh, Karnataka, Tamil Nadu, and Uttar Pradesh have also witnessed considerable investment inflows. Gujarat secured the third position with Rs 19.4 lakh crore, while Andhra Pradesh stood at fourth place with Rs 17.6 lakh crore.

The data provided by CMIE reaffirms that Odisha has become a prominent choice for investment opportunities.

It is worth noting that the government recently released an investor’s guide, which outlines the ease of doing business and the step-by-step process for establishing an industry in Odisha. This guide serves as a comprehensive reference for the single window clearance system, pre-commencement stage clearances/ approvals, license renewal procedures, inspection processes, and grievance redressal mechanisms. Additionally, the guide highlights the innovative reforms implemented by the state government to enhance the investment climate.

Prospective investors can benefit from this document as it provides detailed guidance on registration, approvals, allotments, and applications required for setting up an industrial establishment in Odisha.