Odisha launches GO-EAST policy and revises Industrial Policy Resolution (IPR)

Key facts

• Chief Minister Mohan Charan Majhi launched the Government of Odisha-Eastern Investment Accelerator and Special Task Force (GO-EAST) to attract industries from eastern and northeastern states.
• A GO-EAST Cell and a special Go SWIFT module will be established for real-time monitoring and tracking of the investment process and grant status.
• The Industrial Policy Resolution (IPR) 2022 was amended to promote non-mineral-based industries in 15 backward districts, including Balangir, Kalahandi, Nuapada, Kandhamal, Boudh, and Gajapati.
• The revised policy promotes diversification into sectors including textiles, food processing, engineering, chemicals, electronics, and value-added manufacturing.
• Since June 2024, Odisha has approved 477 projects worth nearly ₹9.5 trillion, reducing the industry establishment time from 400 days to less than 160 days.
• The state signed MoUs with seven companies for investments totalling around ₹24,823 crore: Shyam Metallicks (₹20,000 crore), Singhal Steel and Power (₹1,301 crore), K Urja (₹2,472 crore), CESC Green Energy (₹684 crore), Nandaraj Textile (₹169 crore), Hebe Steel (₹100 crore), and Mascot Steel (₹98 crore).