Orissa is one of the most progressive states in the eastern part of India. Known mostly for the vast natural resources, easily available workforce, investor-friendly government, favourable climate, Orissa attracts heavy investment in various sectors. In all the three sectors of the economy, such as primary, secondary, and tertiary Orissa has gained remarkable achievement over the past few years.
Orissa has been a forerunner in industrial growth, agri based businesses and tourism. The state has huge potential in marine based agro-processing businesses. Its huge mineral deposits, sufficient water and power supply offer excellent opportunity for the investors to establish their operation in the state.
With a vast mineral deposit the state ranks sixth in mineral production in India. Various mineral resources found in the state are bauxite, coal resources, iron ore, nickel and chromite resources. The main agriculture products in the state are coconut, cotton, fruits, groundnut, jute, oil seeds, potato, pulse, rice, spices and vegetables etc.
The Gross Domestic Product (GDP) of Orissa grew at 11.25 per cent between 1999-00 and 2005-06. The state recorded a GDP of USD 21.7 billion in 3005-06. Majority of the growth is been driven by the secondary and tertiary sectors. Iron and steel have been a primary sector in which the state has received tremendous investments over past few years. There are 45 projects for capacity over 56 MT per annum of steel. Similarly telecom has been another thrust area. Some of the major investors in metal sector are Aditya Aluminium, Arcelor Mittal, Bhusan Group, Essar Steel, Hindalco, Jindal Group, L&T-Dubal, POSCO, Tata Steel and Vedanta Resources.
- Vast reserve of natural resources
- Good Infrastructure in terms of roads, railway, power, telecommunications etc
- Investor friendly government
- Strong inflow of direct foreign investments
- Competitive industrial environment
- Low establishment cost