On Monday, the Odisha government greenlit 14 proposals, including the JSW Group’s ambitious plan to establish electric vehicle (EV) and component manufacturing units in Cuttack and Jagatsinghpur districts with a massive investment of Rs 40,000 crore.
The Cabinet, led by Chief Minister Naveen Patnaik, approved a special incentive package for JSW Group’s EV projects in Naraj, Cuttack, and Paradip, Jagatsinghpur. These projects, collectively investing over Rs 40,000 crore and generating more than 11,000 jobs, are poised to bring significant industrial growth and employment opportunities to the state.
The JSW Group aims to set up an EV and EV battery manufacturing project in Naraj, Cuttack, along with an OEM plant for EVs and components, with an investment of Rs 25,000 crore. Additionally, the company plans to establish an EV components manufacturing complex in Paradip, investing Rs 15,000 crore.
The state cabinet also approved the ‘Coffee Plantation for Sustainable Livelihoods (CPSL)’ scheme, allocating Rs 1,144 crore to promote coffee plantations in six districts of Odisha. This initiative aims to expand the existing coffee area from 10,000 to 1 lakh acres over ten years, benefiting over 50,000 farm families.
Furthermore, amendments to the Odisha Government Land Settlement Rules, 1983, were approved to reduce the conversion fee for the conversion of leasehold land into freehold for residential purposes.
Other approvals included additional budgetary expenditures for granting a minimum pension to Ex-VLWs (village-level workers), the Odisha Procurement Preference Policy for Micro and Small Manufacturing Enterprises 2023, a tender for the construction of a working women’s hostel, and the extension of fair price shop licenses.
The cabinet also sanctioned the Odisha Biotechnology Policy 2024, aiming to boost the biotechnology ecosystem in the state by providing subsidies and financial assistance to biotechnology units.
