The Industrial Policy Resolution 2022 has been formulated to create a conducive environment through an enabling Policy and regulatory framework to drive sustainable industrial growth in the State. The State is committed to simplify the processes and procedures and expedite project approvals and clearances.
The Policy focusses on providing quality industrial infrastructure, creation of a large land bank, financial assistance to the private sector for development of industrial infrastructure and sustainable environmental protection. The emphasis of the policy is to make Odisha “a destination of choice” for industrial enterprises.
Vision: To transform Odisha into a modern and advanced industrial state by offering the investors outstanding opportunities for sustainable business growth and to foster holistic socio-economic development of the people.
Mission: To maximize Odisha’s economic potential by leveraging its natural and human resource advantages, aided by modern technology, enabling the creation of a sustainable industrial ecosystem for inclusive growth.
The following sectors have been identified as Priority Sectors in the Policy:
The following sectors have been identified as Thrust Sectors in the Policy:
Key Highlights :
|Incentive Name||Incentive Particulars|
|Stamp Duty Exemption||
|Exemption on Electricity Duty||
|Incentive for Fixed Capital Investment||
|State Goods and Services Tax (SGST) reimbursement||
|Environment-Friendly Infrastructure Incentives||
|Special Incentives for Captive Renewable Energy Plants||
|Incentive for Private Industrial Parks||
|Innovation and R&D||
|Sectors||Investment Facilitation||Land @ Concessional rates||Incentives|
|Priority Sectors||Yes||Yes||Priority Sector Incentives|
|Thrust Sectors||Yes||Yes||Thrust Sector Incentives|
|All other Sectors||Yes||Yes||No|
N.B: The incentives may be availed subject to fulfillment of the eligibility criteria; general and specific provisions for the respective incentives as mentioned in the IPR 2022
Investments in the ‘All other sectors’ category will not be eligible for financial incentives specified under this IPR, except those specifically prescribed, but can avail allotment of land at the concessional industrial rate in the state and will be provided necessary investment facilitation.
Investments in Negative Sectors shall neither be eligible for financial incentives specified under IPR-2022 nor for allotment of land at concessional industrial rates in the State, but shall be eligible for investment facilitation, allotment of land under normal rules at benchmark value, and recommendations to the financial institutions for term loan and working capital and for recommendation, if necessary, to the Power Distribution Companies.