Bhubaneswar, Aug 5 (KNN) Odisha government on Friday introduced incentives for the packaging sector under the new industrial policy.

Addressing the third Packaging Conclave, organised by the Bengal Chamber of Commerce and Industry (BCC&I), Industries secretary Hemant Sharma said “Odisha has categorised plastics and packaging industry as a priority sector industry.”

As per reports, for any investment in plastics and packaging, the state government provides land at 50 per cent concessional rate and also offers 20 per cent reimbursement towards the cost of plant and machinery as capital investment subsidy without any upper limit.

Sharma added that the state government is providing employment subsidy, exemptions on electricity duty, stamp duty etc at a very comparative rate for investment in the sector. 

“The packaging sector in the state presents a lucrative business opportunity due to the well-connected logistics infrastructure in the state, with a dense network of roadways and railways linking industrial areas to neighboring states, ensuring seamless flow of goods and services,” he said.

The Industries secretary informed that two patches of 100 acre land close to the state capital have already been kept reserved for the plastics and packaging industry as the sector is considered important for well functioning of others sectors such as food processing sector, agri-retail and apparel.

Key topics discussed at the conclave included new age packaging, trend, standards, sustainability as well as technology, innovation, design and quality in the sector.  (KNN Bureau)