Odisha EMC gets investment worth Rs 914 crore

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BHUBANESWAR, Odisha: The Electric Manufacturing Cluster in Odisha received an investment commitment worth Rs 914 crore from seven land allottees having the potential of generating over 4600 employment opportunities.

While responding to a query from Sasmit Patra, an MP of Biju Janata Dal (BJD) in the Rajya Sabha, Rajeev Chandrasekhar, Minister of State for Electronics and Information Technology, Government of India told the house that the Odisha Industrial Development Corporation (IDCO) has been granted the approval in 2016, to set up a greenfield Electric Manufacturing Cluster (EMC). The estimated cost of the project stood at Rs 200.76 crore out of which the central government was to provide Rs 93.09 crore in form of grant-in-aid.

As per Chandrasekhar, “This EMC is poised to attract an investment of about Rs 979 crore with a potential to generate 10,000 employment opportunities. An investment commitment of about Rs 914 crore has already been received from seven land allottees with employment potential of 4603 persons.”

As of now, two incubation centres, KIIT Technology Business Incubator at KIIT University, Bhubaneswar, and Foundation for Technology and Business Incubation (FTBI) at the premises of National Institute of Technology (NIT) Rourkela have been approved under the Technology Incubation and Development of Entrepreneurs (TIDE-2.0) scheme, 2019.

Chandrasekhar also informed about the operationalisation of the four Software technology Parks of India (STPI) centres at Rourkela, Berhampur, Bhubaneswar and Balasore. Over 250 IT companies, including the major players in the market, such as TCS, Wipro, Infosys and Tech Mahindra, have already registered themselves in the Software Technology Parks (STP) scheme. These units have cumulatively earned up to Rs 2566 crores through their exports in the financial year 2021-22.

Additionally, four new STPIs will be established at Angul, Jaipur, Sambalpur and Jeypore to give impetus to the startup ecosystem in the state. The minister added that the Bhubaneswar STPI is one of the 12 approved by the Ministry under the Next Generation Incubation Scheme (NGIS) with budgetary support of Rs 95.03 crores for three years.