Orissa moves ahead in realty segment

The report, albeit it is enough to amaze almost all readers, is a great reality and it speaks vehemently of the exponential progress of the state of Orissa with regard to real estate in the realm of India. It has been corroborated by a recent report that the state of Orissa continues as a leading player in the India Inc’s investment plans in 2009 despite. What is more striking this has taken place in spite of economic slowdown and the state has bagged domestic investments worth Rs 2,00,846 crore in the year.

However, it is still trailing the state of Gujarat, with Rs. 2,45,352 crore worth of investment plans, it has been found as the highest share in domestic investment plans during January to December, 2009. all these have come to the fore thanks to the appraisal of corporate investments at the behest of Assocham Investment Meter (AIM) Study. Andhra Pradesh occupied third position with an investment plan pegged at Rs 1,29,157 crore.

All these indicate that total investment plans of India Inc increased notably from Rs 13,80,099 crore in 2008 to Rs 15,94,203 crore in 2009 and from this Gujarat, Orissa and Andhra Pradesh took away a majority share of 15.4%, 12.6& and 8.1% respectively. Speaking on this, Assocham Secretary General, DS Rawatm said, “The robustness in corporate investment activity on the Indian soil shows how competently the economy has managed to weather the storm of unprecedented global financial crisis.”

What have led to success then? Well, Gujarat’s investor-friendly policies have played a great role and the a smooth relocation of the Tata Nano project has helped a lot in attracting majority of investment plans in the real estate, power and infrastructure sectors. Orissa, on the other hand, attracted massive investments mainly on account of the availability of rich mineral resources such as coal and iron ore along with cheap manpower. It is to be noted that steel and power were among the sectors which got maximum investments in the state.