Odisha government to set up Direct Investment Promotion Agencies

The Odisha government announced on March 7, 2021, that it will set up District Investment Promotion Agencies- DIPAs in 30 districts in order to promote and facilitate investment across the state.

As per the Industries department, DIPA in each of the 30 districts will operate under the leadership of the District Collector along with other senior district officials including DFOs, SPs, and line department officials being the constituent members.

The DIPAs will be working as an extended arm of the Industrial Promotion and Investment Corporation of Odisha- IPICOL and will be set up in phases from April 2021 to December 2021.

Significance:

The District Investment Promotion Agencies will play an active and effective role in setting up large as well as MSMEs projects in the respective districts. It will provide a significant boost to the business environment in the state and will generate significant local employment.

Key Highlights:

• The District Collector leading DIPA will be supported by a team of professionals for the project monitoring, investment facilitation, and promoting local entrepreneurship.

• Their performance will be monitored by the State Level Single Window Clearance Authority. It will also be evaluated through the annual rankings of districts which will be based on the investor feedback.

• The increase in investment will necessitate stronger landholding and the facilitation of industrial projects at the district level. It will help in the quick development of the linked infrastructure facilities.

• Industrial development will further help in creating employment opportunities for the youth of Odisha.

Key roles of DIPAs:

• Facilitating and handholding entrepreneurs during the project implementation.

• Promoting enterprises for creating large-scale employment.

• Investment promotion leveraging the local strengths of respective districts.

• Ensuring the early resolution of investor grievances.

• Creating a land bank for fast project implementation.

• Closely monitoring the implementation of power supply, road, and water supply projects, which will promote industrialization and economic growth.