Odisha has potential for $1 trillion economy: JSW Group, PwC India report
The report pointed out that the global economy has grown over three times in the past three decades and is projected to grow more than double in size by 2050.
Odisha Chief Minister Naveen Patnaik today released a vision report titled ‘Economic possibilities for Odisha towards a one trillion dollar economy’, jointly prepared by JSW Group and PwC India.
"Having huge natural resources, Odisha is on its way to achieve this objective through its investment friendly policies, infrastructure connectivity and skilled manpower," Patnaik said, adding that the State will take a central role in driving the national growth as a manufacturing hub.
The report pointed out that the global economy has grown over three times in the past three decades and it is projected that it could grow more than double in size by 2050.
The potential of mineral-based industries in Odisha along with other sectors like agriculture, food processing, creative industries, MSME, and women entrepreneurship will play an important role in making Odisha a one-trillion-dollar economy, the report added.
Describing Odisha as a ‘hidden gem of India,’ JSW Chairman Sajjan Jindal said that the regional economies will play a key role in making India a 10-trillion-dollar economy.
Ranen Banerjee, Partner, PwC India, presented the key findings of the study before the Chief Minister.
The vision report emphasises on the unique competitive advantages of Odisha over other States and its potential to become the export hub for metal products across the world.
Earlier in February this year, the State government asked commercial banks in Odisha to speed up sanctioning and disbursement of loans to MSMEs against pending loan applications. The instructions were passed on by LN Gupta, Additional Chief Secretary, MSME, to bankers at a sub-committee meeting of the State Level Bankers’ Committee (SLBC) on MSMEs.
At the meeting, it was also discussed that Rs 51 crore was disbursed through the Prime Minister Employment Guarantee Programme (PMEGP) in 2018-19 for the promotion of 2,079 MSME units.