Business Trends And Growth In Orissa

Orissa’s economy has grown by leaps and bounds in the recent years due to the advancements in agriculture and industry. However, Orissa still holds the sixth place in being the poorest state of India. In terms of per capita expenditure, rural parts of Orissa hold the second position. In spite of these statistics, the scenario of business in Orissa is changing quickly due to industrial development in the recent years. Important minerals in Orissa in this regard include aluminum, iron, bauxite, coal, graphite, manganese, and chromite. Orissa is the largest producer of aluminum in India and it has more than 25% of the total iron ore reserve in the country. You can find the business news today in Orissa about all these developments in the Odisha Samaya.

Odisha news today about development in agriculture

The state’s agriculture provides employment to about 60% of the population of the state. However, the growth and development of agriculture in Orissa is not satisfactory due to the occurrence of a number of natural calamities repeatedly in this region. The crop which is grown to a very large extent in Orissa and contributes to 90% of the total food grain production is paddy. Problems that need to be overcome include irrigation, incorporation of scientific methods, secured crop insurance, wastage management, and storage systems. You can find more Odisha news today in this regard from the Odisha Samaya.

Business news today about development in industry

Orissa owes its industrial growth to minerals and does quite well in this field. It has a large amount of these natural resources and has about one fifth of the coal, one fourth of the iron ore, one third of bauxite, and a large amount of chromite reserves in India. The Rourkela steel plant was the first integrated steel plant to be started in India in the public sector.

Orissa is also ahead in the software industry having a lot of important IT consulting firms such as Satyam Computer Services, MindTree Consulting, and Infosys. Orissa was the first state in India to bring about privatization in electricity. There are a number of international steel leaders who want to join hands with the Orissa government and set up branches in this region. However, these developments are a little slow as there is a lot of resistance from the people who are involved in agriculture in Orissa. Find out more about all this from the Odisha Samaya.

Infrastructure development in Orissa

Orissa boasts a large coastline bearing a number of important ports such as Paradip, Dhamra, and Gopalpur. This region has been chosen to be developed as one of the Special Economic Regions (SERs) of India. This is done with the aim to encourage private investment in petrochemicals and steel, followed by some investment in the areas of research, education, roadways, airports, hospitals, hotels, and ports. Attempts have also been made to solve one of the problems in agriculture, which is irrigation, by means of the Godavari River Basin Irrigation Project. You can get more information about these developments from the Odisha Samaya.

Varun Mehta is a business enthusiast and a talented writer who likes to keep a close eye on the ups and downs in the business world. He has produced a number of insightful pieces on business news today in different places around India.

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Keywords: Odisha News Today, Business News Today, India News Today

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