BHUBANESWAR, India, Feb. 3, 2021 /PRNewswire/ -- The Industrial Promotion & Investment Corporation of Odisha (IPICOL) has successfully completed submission for the state of Odisha the evidence of reforms implemented under State Reform Action Plan (SRAP) - 2020 as stipulated by DPIIT, Government of India. SRAP is a list of 301 recommendations to be undertaken by states and union territories to improve the business environment for setting up and operating industries in the State.
As part of this exercise, IPICOL coordinated with 18 departments and organisations of the Government of Odisha to ensure successful implementation of the recommended reform action points. The key reform areas included: Investment enablers, labour reform enablers, sectoral reforms, public procurement, commercial dispute resolution enablers etc. These reforms will enhance the ease of doing business by ensuring online and timely services delivered by various departments and organisations of the state government.
The IPICOL has integrated additional 9 services covering 5 Departments with the State Single Window System GO SWIFT ensuring comprehensive facilitation support to industries.
One of the other key reform points implemented in SRAP has been the elimination of the requirements of renewals of certificates/ approvals/ licenses or establishment of an online auto-renewal system under 8 services.
IPICOL had earlier ensured successful implementations of district reform action plan thereby making Odisha eligible for additional borrowing permission of Rs. 1,429 crore from the Department of Expenditure, Ministry of Finance, Government of India.
These investment-friendly reforms 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.