New Delhi, Nov 13 (KNN) Odisha government announced extending the subsidy to self financed food processing enterprises and units engaged in edible, non edible vegetable oil mills including crushing and expelling of oil seeds and manufacturing of fruit pulp or juice out of it.

The announcement was made during a discussion on the second day of the five-day long Make in Odisha Conclave where Britannia and ITC Ltd announced to invest Rs 610 crore in Food Processing sector on their existing plants at Khurda in Odisha in next three to five years.

ITC has announced Rs 550-crore investments in its plant in Khurda district over the next three years while Britannia Industries also announced to invest Rs 60 crore at its existing plant in same district,” state MSME department Additional Chief Secretary L.N. Gupta said.

At the conclave, the Odisha government also announced to extend capital investment subsidy at the rate of 33 per cent of capital investment made in plant and machinery up to Rs three crore to differently-abled, technical degree/ Diploma holder entrepreneurs.

On the occasion, Chief Minister Naveen Patnaik asked industry captains to explore and opt for long-term investment strategies.

“I propose that each (of the industry captains present) plan a long-term strategy for investment in the State over the next 10 years,” he said at the plenary session of the biennial ‘Make in Odisha Conclave 2018’ here in Bhubaneswar.

Dedicated teams will be appointed by the state to handhold the implementation of long-term plans. “We can work together towards developing Odisha as a manufacturing hub of South Asia,” he added.

Highlighting the State’s USP as the country’s leading mineral producer, the Chief Minister referred to it as the “aluminium capital of south Asia” and “the steel hub of India.”

Besides, he emphasized on aerospace and defence manufacturing “in order to capitalise on the competitive advantages of Odisha’s existing ecosystem”.

Other areas in which government are looking for development includes pushing start-ups through favourable policies, focusing on MSMEs and food processing.

The State government also entered into a MoU with ITEES, Singapore to set up and manage a ‘World Skill Centre’.