Bhubaneswar, 19 December 2020: In the recently concluded State Investment Promotion Agency (IPA) ratings report, released by Invest India in collaboration with the World Bank Group, Odisha’s state investment promotion & facilitation agency, IPICOL, has been categorized as “Top Performers” amongst 20 State IPAs with an overall score of 98%.
This assessment was meant to measure the preparedness of the Indian State IPAs to attract and facilitate investment projects. For the assessment Invest India undertook a survey with 74 questions across 8 pillars. These pillars included Mandate and Organization, Strategy and Marketing, Targeting Investors, Winning Investment Projects, Facilitating Investments, Aftercare, Systems and Infrastructure and Website.
The State IPAs were evaluated by the joint team from Invest India and World Bank Group. The states have been classified into four categories: Top Performers, Aspiring Leaders, Promising Developers and Emerging Potential.
As per the report, the Top performers are the IPAs that are most prepared for attracting and retaining investors and perform well across many or all the eight Pillars. They demonstrate multiple aspects of internationally recognized good practices
The report states “We congratulate IPICOL for taking remarkable measures that have resulted in it becoming one of the leading investment promotion agencies in India. We commend the far-sightedness of the State IPA and its leadership for taking the steps to prove its relevance in this competitive landscape.”
IPICOL over the past few years has worked extensively to make the doing business environment in Odisha conducive and hassle-free by bringing in institutional, systemic and technological reforms. This was reflected in the pillar-wise scores, in which it scored 100% in 7 pillars while scoring 80% in the remaining one.
The report also praised IPICOL’s vision for growth by mentioning that “The noteworthy initiative taken by the state to strategically decide its focus sectors and sub-sectors and curate its investment promotion & targeting approach accordingly will play a critical role in positioning Odisha as an attractive investment destination”.
About Odisha:
Located on the east coast of India, Odisha has a coastline of 480 km along the Bay of Bengal. The modern State of Odisha was formed on 1 April 1936 but its history dates to the era of Kalinga mentioned in the Mahabharata. Over the years the state has maintained a unique cultural identity distinct from all of its neighboring States. Traditionally, the State has been known for its mineral and mining strength. Since the turn of the millennium, the focus of the State has shifted to manufacturing and services industrial growth. The State Government has also taken several unique initiatives to ensure that a hassle-free and conducive business environment is provided to the investors setting up units in the State.
About IPICOL:
Industrial Promotion and Investment Corporation of Odisha (IPICOL) is the single point of contact for all industrial investments in the State. IPICOL is responsible for devising the investment promotion, facilitation and aftercare strategy for the state of Odisha. IPICOL, as the investment promotion agency of the State of Odisha, undertakes all activities to promote Odisha as the investment destination of choice.
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