Gujarat, Orissa top 2 Domestic Investment Destinations: ASSOCHAM report

Associated Chambers of Commerce and Industry of India (ASSOCHAM) report for Corporate Investments says Orissa stood second after Gujarat in top investment attracting states. As per the annual ASSOCHAM Investment Meter (AIM) Study report for Corporate Investments across States and Sectors, total investment plans of India Inc. increased significantly from Rs 13,80,099 crore in 2008 to Rs 15,94,203 crore in 2009; out of which Gujarat, Orissa and Andhra Pradesh carved out a majority share of 15.4 per cent, 12.6 per cent and 8.1 per cent respectively.

Among the top investment attracting states, Gujarat registered the highest share in domestic investment plans during the January to December period of 2009. The state witnessed Rs. 2,45,352 crore worth of investment plans. Helped by the investor friendly policies of the state government which led to a smooth relocation of the Tata Nano project, the state attracted majority of investment plans in the real estate, power and infrastructure sectors. Orissa stood at second position after Gujarat and recorded investment proposals worth Rs. 2,00,846 crore during the last year. The availability of rich mineral resources such as coal and iron ore along with cheap availability of manpower attracted massive investments in Orissa. Steel and power were among the sectors which attracted maximum investments in the state. Karnataka and Maharashtra stood at fourth and fifth position by attracting investment plans worth Rs. 1,06,092 crore and Rs. 91,824 crore respectively during 2009.

Source: http://www.orissadiary.com/

Students’ body demands Bank of Odisha HQs at Berhampur

Berhampur: While praising the recent long-awaited decision of the State Government to form a sub-committee under the State Revenue Minister for exploring the establishment of Bank of Odisha, the South Odisha Students’ Association (SOSA) has requested Chief Minister Naveen Patnaik for establishment of Bank of Odisha with its headquarters at Berhampur.

Having taken the logical first step, we do expect that the State Government would announce the formation of the Bank of Odisha with its corporate headquarters at Berhampur as it is logical that the rewards must go together with performance, stated president of SOSA RP Tripathy in a letter to the Chief Minister. The headquarters of the proposed Bank of Odisha at Berhampur in recognition of its standing in banking, business and commerce in the State will send the right signals and help the cities of Odisha focus on their core competencies, he wrote in his letter. This will become the first State-level headquarters of any establishment of any sector that will be located in Berhampur city. Further, the headquarters of Bank of Odisha in Berhampur will ensure distributive justice in the establishment of State institutions and the State Government must give Berhampur the due recognition that it deserves through this initiative, he added.

Justifying Berhampur as the ideal location for establishing the bank headquarters, Tripathy stated in the letter that Berhampur city has contributed immensely to the vibrancy, cultural and social life and above all economic growth of Odisha. Even with inadequate State support, Berhampur city has carved a niche for itself and has grown exponentially in the spheres of business, transport and commerce. It still remains the only hope and bright spot in the utterly backward region of southern Odisha. The city has always been a great centre for business and commerce since the days of the British Raj and most importantly it has flourished solely based on local entrepreneurship and initiatives, he pointed out.

He further stated that the Greater Berhampur region with a population of close to seven lakhs is the second biggest urban cluster in the State and supportive Government policies are the need of the hour for its future growth that in turn will propel the growth of the State.

In the past, the shifting of Government offices like the State headquarters of OSRTC, jail training academy, cooperative training academy etc from Berhampur led to resentment among the locals and the State Government must undo these erroneous decisions through the establishment of the proposed Bank of Odisha with its headquarters at Berhampur, which the city rightly deserves, he observed.

Source: The Pioneer (Link: http://www.dailypioneer.com/228435/Students’-body-demands-Bank-of-Odisha-at-Berhampur.html)