Orissa is located on the eastern coast of India. The state is Bounded by the Bay of Bengal in the east, West Bengal in the north-east, Bihar in the north, Madhya Pradesh in the west and Andhra Pradesh in the south.
Orissa is richly endowed with a variety of natural resources like minerals and forests, a long coastline, sea, sweet water and brackish water bodies, rivers and rivulets and a rich cultural heritage offering a wide range of fine manifestations having both aesthetic and commercial value.
Orissa is a forerunner in the field of industrial development, trade and economy, for the past few years. The state has a vast depository of natural resource, minerals and ores. The state is complete with all the infrastructure needed for industrialisation, such as sufficient power supply, water resources, roads, railway, port, telecommunication facility, human resources etc.
- Some of the factors influencing growth of the state are;
- Availability and ease of use of factor inputs such as land and labour;
- Availability of adequate physical and social infrastructure
- Governance and regulatory framework in terms of rules and regulations governing entry, operation, and exit of firms, stability in regulation, integrity of public services, law and order and investment facilitation; and
- Provision of incentives and access to credit.
The state has significant geological potential and ranks sixth in mineral production in India. Orissa accounts for 32.9 per cent of iron ore, 24 per cent of coal resources, 50 per cent of bauxite, 95 per cent of nickel and 98 per cent of chromite resources of India. Orissa has with vast mineral deposits like coal, iron ore, manganese ore, bauxite and chromite.
The government of Orissa has formulated the famous Industrial Policy Resolution 2007 and Vision 2020, which solely focuses on the private sector as the main vehicle of growth. This state aims at achieving faster growth in sectors such as mining, tourism, handicrafts, and other manufacturing sub sectors.