The MoU was signed at the Make in Odisha Conclave 2022 which began on 30 November. Yesterday's session dealt with two sub-themes, one focusing on financing MSME and the other on infrastructure.
During the session, a few initiatives were announced including, the launching of electronic Bank guarantees in collaboration with National EGovernance Services Ltd (NESL).
The session was attended by officials from Banks, FI, Industry Associations, Financial service providers, FinTech companies, Business Schools, and Officials from Government Departments such as S S Mundra, Chairman BSE, Ramann, CMD, SIDBI, Mahadeo Jaiswal, Director IIM Sambalpur, Moazzam Mekan from International Finance Corporation, The World Bank, Rachana Bhusari, VP-NSE, and PR Jaishankar, MD, IIFCL. The session was moderated by Vishal Dev Principal Secretary Finance Department, Government of Odisha.
BSE Chairman suggested Odisha government prepare a list of 10-15 MSMEs that could aspire for listing and the government could hold seed equity in these enterprises through a dedicated corpus till they mature. NSE VP assured her support for the listing of state MSMEs on the NSE Emerge platform.
Gulshan Malik, Dy Managing Director from SBI assured all support for industrial growth. SBI also signed an MOU for financing start-ups and MSMEs of Odisha.
Ramann, CMD SIDBI spoke about their commitment to creating a Corpus for guaranteeing loans to MSMEs in Odisha which could be supplemented by the State to further enhance the quantum of guarantee.
On Infrastructure financing, PR Jaishankar, MD, IIFCL spoke about the relay and refinancing of debt and suggested the state take up a Hybrid annuity model for financing its infrastructure.
Professor Mahadeo Jaiswal, Director IIM Sambalpur highlighted the need for skills and trained manpower for the promotion of MSME. IIM Sambalpur has already taken up pilot programmes to upgrade the marketing and financial service skills in the weavers' cluster of western Odisha.
It is the third edition of Odisha's flagship investor summit, in which 54 leading industrialists and entrepreneurs were present.
The Make in Odisha Conclave 2022 saw the launch of the Industrial Policy Resolution 2022 which focuses on making Odisha the destination of choice for industrial enterprises across the country and globally.
On day 1 of the Conclave, 54 industry leaders, participants from 11 countries, and several industry leaders were present.
Karan Adani, CEO, of Adani Ports, promised an investment of over ₹60,000 crore in the coming 10 years.
Lakshmi Niwas Mittal, executive chairman, ArcelorMittal said that in a joint venture with Nippon Steel, the company is setting up a 24 million tonnes plant unit in Odisha.
JSW Group chairman Sajjan Jindal said the group will invest about ₹1 lakh crore more in Odisha for setting up a steel plant in Paradip and a silicon metal plant to produce solar panels. He mentioned the group already invested ₹60,000 crore in the state.
Anil Agarwal, chairman, and founder of Vedanta Resources laid the foundation stone from the summit. "Spread over 253 acres at Jharsuguda, the aluminum park will be India's largest metal park," Agarwal said.
Essar Capital will make an investment of about ₹52,000 crore in Odisha to set up various projects which include a 14 MT pellet plant and a 7.5 MT crude to the petrochemical unit.
