SUN TEMPLE AT KONARK,

ODISHA

SCENIC . SERENE . SUBLIME

For updated information, please visit www.ibef.org March 2019 Table of Content

Executive Summary .…………….…….…....3

Introduction ……..………………………...….4

Economic Snapshot ……………….….…….9

Physical Infrastructure ………..……...... 15

Social Infrastructure ...... 23

Industrial Infrastructure ……..………...... 26

Key Sectors ………….………………..…...29

Key Procedures & Policies………………...37

Annexure.………….……..…...... 50 EXECUTIVE SUMMARY

. The state’s economy witnessed high growth rates between 2011-12 and 2017-18, with GSDP of the state Strong economy growing at a CAGR of 10.30 per cent. Cumulative FDI inflows in the state, during April 2000 to December 2018, amounted to US$ 504 million.

. Odisha has emerged as a key state with regards to the mineral and metal based industries. At 34.3 per Strong mineral cent in 2017-18, Odisha contributed the largest share of mineral production in in terms of value*. production Value* of minerals produced in the state reached Rs 200.92 billion (US$ 3.12 billion) in 2017-18.

Strong growth in MSME . The state is home to a large number of MSME units. The state is amongst the top ten states accounting for units the highest number of MSME enterprises.

. Odisha is the first state in India to have undertaken reform and restructuring initiatives in the power sector. Strong power sector As of February 2019, the state had a total installed power generation capacity of 7,649.12 MW.

Source: Economic Survey of Odisha, CAGR – Compound Annual Growth Rate; GSDP – Gross State Domestic Product, Updated data for GSDP is expected in Economic Survey of Odisha Note: *Excluding fuel minerals, atomic minerals and minor minerals

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INTRODUCTION FACT FILE

. Odisha has 3 major seasons, summer (March to June), monsoon (July-September) & winter (October-February).

Parameters Odisha

Capital

Geographical area (lakh sq. km) 155,707

Administrative districts (No) 30

Population density (persons per sq. km) 270

Total population (million) 41.97

Male population (million) 27.1

Source: Maps of India Female population (million) 25.5

. Odisha is located in the eastern region of India. The state shares its Sex ratio (females per 1,000 males) 979 borders with in the north-east, Jharkhand in the north, Andhra Pradesh in the south, in the west & the Bay of Literacy rate (%) 75.5 Bengal in the east. Male Literacy rate (%) 83.2 . Languages spoken in the state are Oriya & its various dialects, Hindi & English. Female Literacy rate (%) 67.8

. Bhubaneswar, Mayurbhanj, Baleshwar, & Sundargarh, , are some of the large cities in terms of population.

Source: Census 2011, Economic Survey of Odisha 2017-18

5 ODISHA For updated information, please visit www.ibef.org ADVANTAGE

High economic growth Policy, fiscal incentives and initiatives

. The state’s GSDP grew at a Compound Annual Growth . The state offers a wide range of fiscal and policy Rate (CAGR) of 10.30 per cent between 2011-12 and incentives for businesses under the Industrial 2017-18. Policy Resolution, 2007. . The tertiary sector was the major contributor to the . Additionally, the state has sector-specific policies state’s GSDP with contribution of 45.25 per cent during for IT and micro, small and medium enterprises. 2017-18. . The state government has constituted ‘Team Odisha’ to help with investment promotion.

Advantage Odisha Rich labour pool Facilitating infrastructure

. The state has a literacy rate of 72.87 per cent, in . Odisha has a up to date social, physical and line with the national average. industrial infrastructure. The state government has been undertaking various infrastructural . Furthermore, the state has a large pool of semi- projects to boost the infrastructure of the state. skilled and unskilled labour. . As per state budget 2018-19, US$ 811.24 million has been allocated for the railway infrastructure development.

Note: Updated data for GSDP is expected in Economic Survey of Odisha Source: Economic Survey of Odisha, Central Statistics Office

6 ODISHA For updated information, please visit www.ibef.org VISION 2022

. To develop industrial parks with . To improve rural healthcare system, quality infrastructure, to encourage to provide quality emergency micro-enterprises as ancillaries and healthcare facilities, to patronise to pave the way for cost & health insurance, to imbibe health technology orientation by and hygiene content in education encouraging competition. system, etc.

. To enhance the use of . To improve connectivity by Information Technology (IT) increasing road and rail density to ensure transparency and Health Industrial and to improve passenger speed. development services. . To minimize interface between . To provide universal access to Govt. services public and government for power, irrigation and to improve and Infrastructure dealings. urban infrastructure as well. administration Vision 2022 Growth and well- . To protect historical monuments Tourism & culture being . To frame concerted strategies to through proper renovation. address various issues of . To nurture and promote classical unemployment and rural well being. music, dance and literature. Agriculture Education & skill . To bring about growth with equity. development

. To improve the productivity of the sector, to encourage modern . To foster technical and vocational agricultural practices, to bring education and skill development insurance schemes for farmers programmes. against natural disasters, etc. . To establish educational townships.

Source: Confederation of Indian Industry

7 ODISHA For updated information, please visit www.ibef.org ODISHA IN FIGURES

Odisha’s Contribution to Indian Economy (2017-18) Physical Infrastructure in Odisha

Parameter Odisha India Parameter Odisha India GSDP as a percentage of all Installed power capacity 2.5 100.0 7,649.12 350,162.48 states’ GSDP (MW) (February 2019)* GSDP growth rate (%) 10.28 9.8 Wireless subscribers (No) 33,293,620 1,181,971,713 (as of January 2019) Per capita GSDP (US$) 1,438.74 1,456.76 Internet subscribers (Mn) 13.25 560.01 Social Indicators (as of September 2018) National highway length 5,762 132,499 Parameter Odisha India (km) Literacy rate (%) 72.87 73.0 Major and minor ports 1+2 13+187 (No) Birth rate (per 1,000 18.6 20.4 population) Airports (No) 2 129

Industrial Infrastructure Investments (as of December 2018)

Parameter Odisha India Parameter Odisha India Operational PPP projects (No) 14 902 Cumulative FDI equity inflows 0.504 409.268 Operational SEZs (No) since April 2000 (US$ billion) 5 213 (January 2019)

Source: Telecom Regulatory Authority of India Note: GSDP, per capita GSDP figures are taken at current prices, exchange rates used is average of 2017-18 i.e. 64.45, For source refer to Annexure , * FY 2018-19

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ECONOMIC SNAPSHOT ECONOMIC SNAPSHOT – GSDP

GSDP at current prices GSDP per capita at current prices

CAGR 10.30% CAGR 9.19% 70.00 4.5 1,600 100000

4 90000 60.00 1,400

4.16 80000

64.54 3.5 1,200

50.00 3.77 70000 1,438.74

3 92,727.00 56.22

3.31 1,000 84,936.00

51.39 60000 3.14

40.00 50.55 1,266.00

49.00 2.5

2.96

48.17

48.06

1,180.85

75,262.00 1,149.74

800 1,140.94 50000

1,137.40

1,126.87 72,209.00 2.62 2

30.00 68,813.00 2.31 600 40000 1.5 61,358.00

20.00 54,708.00 30000 1 400 20000 10.00 0.5 200 10000

0.00 0 0 0

2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18

2012-13 2011-12 2013-14 2014-15 2015-16 2016-17 2017-18 US$ billion Rs trillion US$ RS

. At current prices, the Gross State Domestic Product (GSDP) of . Odisha’s per capita Gross State Domestic Product (GSDP) in 2017- Odisha stood at about Rs 4.16 trillion (US$ 64.54 billion) in 2017-18. 18F was estimated at about Rs 92,727.00 (US$ 1,483.74).

. The state’s GSDP grew at a CAGR of 10.30 per cent between 2011- . Per capita GSDP of the state grew at a CAGR of 9.19 per cent 12 & 2017-18. between 2011-12 and 2017-18.

Note: Exchange rates used are averages of each year, provided on page 52, Update is expected in Economic Survey of Odisha Source: Directorate of Economics & Statistics of Odisha, Central Statistical Organisation NSDP# -Odisha Socio Economic Survey 2017-18

10 ODISHA For updated information, please visit www.ibef.org ECONOMIC SNAPSHOT – NSDP

NSDP at current prices NSDP per capita at current prices

CAGR 10.08% CAGR 8.97% 60.0 4 1,400 90000

3.5 80000

50.0 1,200 56.37 3.63 3 70000

1,000

3.30 49.14 40.0 1,256.65 60000

2.5 80,991.00

45.61

2.89

44.09

43.56

43.29

2.75 800

42.96 74,234.00

1,106.48 50000 2.61

30.0 2 1,033.08

1,008.76

1,004.65

1,002.90

1,001.22

65,650.00 2.33

600 63,173.00 40000 60,574.00

2.04 1.5

20.0 54,703.00 30000

400 48,370.00 1 20000 10.0 200 0.5 10000

0.0 0 0 0

2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18

2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18

US$ Rs trillion US$ RS

. Odisha’s total NSDP was about Rs 3.63 trillion (US$ 56.37 billion) . The state’s per capita NSDP was Rs 80,991.00 (US$ 1,256.65) in during 2017-18. 2017-18.

. The state’s NSDP (in Rs) grew at a CAGR of 10.08 per cent between . The per capita NSDP (in Rs) increased at a CAGR of 8.97 per cent 2011-12 & 2017-18. between 2011-12 and 2017-18.

Note: Exchange rates used are averages of each year, provided on page 52, Update is expected in Economic Survey of Odisha Source: Directorate of Economics & Statistics of Odisha, Central Statistics Office, Aranca Research Sector-wise %share of GSDPµ -Odisha Socio Economic Survey 2017-18

11 ODISHA For updated information, please visit www.ibef.org ECONOMIC SNAPSHOT – PERCENTAGE DISTRIBUTION OF GSVA

Gross State Value Added by economic activity at current basic . In 2017-18, the tertiary sector contributed 45.25 per cent to the prices state’s GSVA at current prices, followed by the primary sector (27.70 per cent) and secondary sector (27.05 per cent). 100% 38.54% CAGR* 45.25% 90% . At a CAGR* of 12.58 per cent, the tertiary sector has been the fastest growing among the three sectors from 2011-12 to 2017-18. 80% 12.58%

The growth has been driven by trade, transport, storage, 70% communication & services related to broadcasting and other 60% services. 31.57% 50% 27.05% . The primary sector grew at a CAGR* of 8.23 percent between 2011- 40% 12 and 2017-18. 6.83% 30% 29.89% . The secondary sector grew at a CAGR* of 6.83 per cent between 27.70% 20% 2011-12 and 2017-18. This was driven by manufacturing, construction and electricity, gas & water supply. 10% 8.23% 0% 2011-12 2017-18

Primary Secondary Tertiary

Note:-* in Rs terms, Update is expected in Economic Survey of Odisha Source: Directorate of Economics & Statistics of Odisha, Central Statistics Office, Aranca Research Sector-wise %share of GSDPµ -Odisha Socio Economic Survey 2017-18

12 ODISHA For updated information, please visit www.ibef.org ECONOMIC SNAPSHOT – FDI INFLOWS & INVESTMENTS

FDI inflows in Odisha* in April 2000-December 2018 (US$ . According to the DPIIT, cumulative FDI inflows in the state during Visakhapatnam port traffic (million tonnes) million) April 2000 to December 2018 stood at US$ 504 million.

600 . Odisha is aiming to facilitate growth in the manufacturing sector with 504 an yearly increase of 15 per cent till 2020. As per the state 500 65 10 government investment plans, the contribution of manufacturing sector in the overall GSDP of the state is projected to reach 27 per 12 10 5 47 cent by 2020. 400 52

. To increase the employment opportunities in the state, Odisha 300 28 261 government has announced plans to invest US$ 28.69 billion in the

manufacturing sector generating nearly 300,000 lakh job 200 opportunities by 2020.

100 . In line with the Centre's ambitious & flagship ‘Make in India’ initiative to develop the country as a manufacturing hub, the Government of 0

Odisha bagged investment commitments worth US$ 30.54 billion

FY17 FY12 FY13 FY14 FY15 FY16 FY18

during the ‘Make in Odisha’ conclave. FY19*

FY01-FY11 FY01-FY19*

Note: FY19* - Up to December 2018 Source: Department for Promotion of Industry and Internal Trade, Economic Survey of Odisha, News articles

13 ODISHA For updated information, please visit www.ibef.org ECONOMIC SNAPSHOT – EXPORT TRENDS

Merchandise Exports from Odisha (US$ billion) Major Commodities Exported in FY19^

Iron & Steel 8.00 0.92% 3.60%

7.00 7.59 Aluminum and Products of Aluminium 6.99% 6.00 Petroleum Products 6.07 9.44% 31.66% 5.00 Processed Minerals 4.86 4.00 9.71% Iron Ore 3.00 3.35 2.91 Marine Products 2.00 10.78%

1.00 26.89% Ceramics & Allied Products 0.00 Others FY15 FY16 FY17 FY18 FY19*

. Total merchandise exports from Odisha were US$ 4.86 billion in FY19.

. Iron and Steel, Aluminium and Products of Aluminium and Petroleum Products account for a majority of the share in the overall exports of the state.

. Iron Ore and Processed Minerals are the other major products that account for a significant share in Odisha’s export basket.

Note: FY19* - Up to December 2018 Source: DGCIS Analytics

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PHYSICAL INFRASTRUCTURE PHYSICAL INFRASTRUCTURE – ROADS

. Odisha is well connected to its neighbouring states & other parts of Road type Road length (km) (January 2019) India through 41 national highways. The state had a road density National highways 5,762 of 164 km per 100 square km of area. State highways 4,100.63** . Odisha has around 254,845.32 km of roads, including 5,762 km of District roads 16,270.92** national highways & 4,100.63 km of state highways.

. In the 2019-20 state budget, Odisha government focused on overall road development by allocating funds towards various schemes and programs as listed in the table below:

Schemes/Programs/Projects Funds allocated Rs 2,900 crore (US$ Pradhan Mantri Gram Sadak Yojana (PMGSY) 401.94 million) Rs 402 crore (US$ Mukhya Mantri Sadak Yojana 55.72 million) State Highway Development Programme Rs 200 crore (US$ (SHDP) 27.72 million) Rs 250 crore (US$ Central Road Fund projects 34.65 million) Rs 50 crore (US$ Biju Expressway 6.93 million) Rs 50 crore (US$ “Connecting Unconnected Villages” Scheme 6.93 million)

Note: ** - 2015-16 Source: * as per Economic Survey of Odisha 2017-18, National Highways Authority of India, Odisha Budget – 2019-20

16 ODISHA For updated information, please visit www.ibef.org PHYSICAL INFRASTRUCTURE – RAILWAYS

. Odisha serves as a link between eastern & western India through the railway network of the South Eastern Railways & the East Coast Railways.

. Odisha falls in the East Coast Railways region. Its major divisions are Khurda Road, & Waltair, with district headquarters in Bhubaneswar.

. In the State Budget 2019-20, the government has deployed Rs 400 crore (US$ 55.44 million) for development of Railway projects and Rs 10 crore (US$ 1.39 million) is allocated to complete the railway projects of strategic Importance through SPVs.

. In May 2018, the government is planning to set up integrated coach factory to manufacture aluminium body train sets in Odisha .

Source: Maps of India

Source: Odisha Budget – 2019-20

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. , is located in the state capital, Bhubaneswar. In November 2013, the airport was declared an international airport by the Ministry of Civil Aviation.

. Direct links are available from Bhubaneswar to destinations such as , Kolkata, Chennai, Nagpur, & Hyderabad. In addition, there are 17 airstrips & 16 helipads at several places in the state.

. The Airports Authority of India (AAI) has proposed construction of another international airport in Odisha due to the rising air traffic. The proposed airport will require 1,500-2,000 acres of land and will be built on PPP mode. In February 2018, government decided to allocate 1.47 acres additional land free of cost to the AAI for the expansion of the Air strip.

Bhubaneswar Airport Statistics

April 2018 – Parameter 2014-15 2015-16 2016-17 2017-18 February 2019

Aircraft movement (nos.) 12,512 14,036 17,078 23,155 27,677

Passenger traffic (million) 1.49 1.89 2.33 3.25 3.81

Freight handled (tonnes) 5,950 7,002 8,239 7,843 8,644

Source: AAI

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Commodity-wise traffic handled at Paradip port (‘000 tonnes) . Paradip port is one of the major ports in Odisha. It is connected with

the broad-gauge rail link of the East-Coast Railway & is also served 2015- 2016- 2017- 2018- Commodity by National Highway-5A. 16 17 18 19* 20,567 27,696 33,776 34,542 Petroleum, oil & lubricants . Total traffic handled from Paradip port has reached 98.73 million 1,906 1,814 1,482 1,517 tonnes in April 2018 – February 2019. Others

Iron 2,889 11,045 12,189 10,738 . During April 2018, Union Minister drafted a blue print for port-led - 42 4 114 development in Paradip under Sagarmala project .This includes 40 Fin Fertilizers projects which is estimated to cost around Rs 91,000 crore (US$ 4,361 4,025 2,825 4,020 Raw 14.12 billion). Thermal & 31,787 25,855 17,047 29,317 Steam Coal Coking & 8,654 10,302 8,098 11,539 Others 121 38 58 173 Tonnage Containers TEUs 5 2 4 11

6,101 8,138 5,204 6,769 Other Misc. Cargo

Total 76,386 88,955 64,974 98,729

Note: *– Up to February 2019 Source: India Ports Association

19 ODISHA For updated information, please visit www.ibef.org PHYSICAL INFRASTRUCTURE – POWER

. Odisha is the first state in the country to bring in power sector reforms. Installed power capacity (MW)

. As of February 2019, Odisha accounted for a total installed power 10,000 generation capacity of 7,649.12 MW, comprising 2,508.22 MW under 9,000 state utilities, 3,408.00 MW under the private sector & 1,732.90 MW

under central utilities. 8,000 9,421.52 9,036.36

. Of the total installed power generation capacity, 4,992.90 MW was 7,000 8,538.27 7,721.80

contributed by thermal power, 2,150.92 MW by hydropower & 505.30 7,649.12

6,000 7,338.42

MW by renewable power. 6,946.30 5,000

. An outlay of Rs 533 crore (US$ 73.87 million) has been allocated to 5,996.30

4,000 5,378.60 establish new 33 x 11 sub-stations under Odisha Distribution System

Strengthening Programme (ODSSP). 3,000

. As per Budget 2019-20, the state government has made provision of 2,000 Rs 100 crore (US$ 13.86 million) to facilitate 24X7 power supply under 1,000 State Capital Region Improvement of Power System (SCRIPS).

0

2010-11 2011-12 2012-13 2013-14 2015-16 2016-17 2017-18

2014-15 2018-19*

Note: *As of February 2019 Source: Central Electricity Authority , State Budget 2019-20

20 ODISHA For updated information, please visit www.ibef.org PHYSICAL INFRASTRUCTURE – TELECOM

. As of January 2019, the state had an overall tele-density of 77.22 per Telecom Infrastructure (As of February 2019) cent. Wireless subscribers 33,293,620

. According to the Telecom Regulatory Authority of India (TRAI), Wireline subscribers 236,928 Odisha had 33.30 million wireless subscribers and 236,928 wireline

subscribers, as of January 2019. Internet subscribers* (Million) 13.25

. By the end of January 2019, 8.32 million subscribers had submitted Tele density (in %) 77.22 requests for mobile number portability in Odisha.

Performance status of Bharat Net project (as of December 2018) Major telecom operators in Odisha

. Bharat Sanchar Nigam Limited (BSNL) No. of GPs in Phase-I 3,860 . Bharti Airtel Cable laid (kms.) 11,729 . Vodafone Idea

GPs for which cable laid 3,805 . Reliance Jio

^ Service Ready GPs 3,575

Note: *As of September 2018, ^As of February 2019 Source: Telecom Regulatory Authority of India, Department of Telecommunications

21 ODISHA For updated information, please visit www.ibef.org PHYSICAL INFRASTRUCTURE – URBAN

. Bhubaneswar, Odisha’s capital, has secured a spot in the list of Classification of AMRUT Cities in Odisha on the basis of world’s top 20 smart cities in 2017. The ranking has placed the city at population the 13th position in terms of safety and 20th in three other Number of AMRUT cities with population parameters viz. mobility, healthcare and productivity. In budget 2018- 9 less than 1 million 19, the state government allocated Rs 400 crore (US$ 62.06 million) Number of AMRUT cities with population 0 under “Smart Cities Mission”. in the range of 1 – 10 million

Number of AMRUT cities with population 0 . Government of India has approved 5,133 affordable houses in 26 greater than 10 million cities of Odisha with an investment of Rs 156 crore (US$ 24.10 Total number of AMRUT cities 9 million) of which central government would contribute 77 crore (US$ 11.89 million).

. As per the State Budget 2019-20, the Government of Odisha has allocated an amount of Rs 5,578.69 crore (US$ 773.21 million) under the Housing and Urban Infrastructure Department.

Source: JNNURM, Ministry of Urban Development, Government of India, News articles , UIDSSMT: Urban Infrastructure Development Scheme for Small and Medium Towns, State Budget 2019-20

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SOCIAL INFRASTRUCTURE SOCIAL INFRASTRUCTURE – EDUCATION

Educational infrastructure (2016-17) Odisha primary education statistics (2016-17)

Medical Colleges (Pvt+ Govt.) 8 Primary: 36,318 Number of schools Upper primary: 23,096 Dental colleges (Pvt+ Govt.) 4 High schools: 9,873

Primary: 4.20 Engineering colleges (Pvt+ Govt.) 123 School-dropout rate (%) Upper primary: 5.15 High Schools: 5.21 MCA colleges (Pvt+ Govt.) 41 Primary: 23:1 Pupil-teacher ratio MBA colleges (Pvt+ Govt.) 62 Upper primary: 23:1 Net-enrolment ratio in schools Primary: 88.47 Polytechnics/engineering schools 117 (%) Upper primary: 83.36

. The major universities in the state are Utkal University & Biju Patnaik University of Technology; popular colleges are Orissa Engineering College & Sriram Chandra Bhanj Medical College.

. The state is also home to premier institutions such as National Institute of Technology (NIT) , Xavier Institute of Management & National Institute of Science Education & Research.

Note: 2017-18 primary education statistics and educational infrastructure may be released in Economic Survey of Odisha 2018-19 Source: Economic Survey of Odisha 2017-18, University Grants Commission, MCA: Master of Computer Applications, MBA: Master of Business Administration, OBC: Other Backward Class, SEBC: Socially and Educationally Backward Class

24 ODISHA For updated information, please visit www.ibef.org SOCIAL INFRASTRUCTURE – HEALTH

Health indicators (2016) Health infrastructure (March 2019)

Population served per hospital bed1 1,386 Primary health centres 1,394

Birth rate2 18.6 Sub centres 6,691 Community health centres 433 Death rate2 7.8 District hospitals 35 3 Infant mortality rate 44 Sub district hospitals 40 Total 8,593 Life expectancy at birth (year)

Male (2011-15) 64.3

Female (2011-15) 67.3

. In March 2018, the state government approved setting up of 19 hospitals in the state. Establishment of these hospitals will be done under PPP mode and is expected to require private sector investments worth Rs 1,150 crore (US$ 177.63 million).

. Under plan and non plan expenditure, US$ 589.53 million has been allocated for the Health and Family Welfare Department in the state budget 2017-18. Odisha State Medical Corporation (OSMC) is established by the Government of Odisha to supply free of cost drugs to the health facilities in Odisha.

. In December 2017, the state government signed four MOUs with Glocal Health Care Systems Pvt Ltd, Centre for Stem Cell Research of Christian Medical College, Narayana Hrudayalaya and LV Prasad Eye Institute to improve healthcare facilities and provide better services in the state.

Note: 1As of 2014-15, 2Per thousand persons, 3Per thousand live births, PPP – Public Private Partnership Source: Central Bureau of Health Intelligence, Government of India, Ministry of Health and Family welfare, Economic Survey of Odisha 2017-18, SRS Bulletin

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INDUSTRIAL INFRASTRUCTURE INDUSTRIAL INFRASTRUCTURE … (1/2)

. As a part of the state government-enacted Orissa Industries Key Industrial zones (Facilitation) Act, 2004, a single-window clearance system was . - . Gopalpur-Chatrapur

implemented in the state. This was done with the aim of facilitating . -Duburi . Paradip-

the growth of industries and creating an attractive environment for . Bhubaneswar-Khurda . Jharsuguda- both domestic and international investments. . - . Investment intentions filed in the state is Rs 534 crore (US$ 0.07 billion) in January 2019. Investment intentions in terms of IEMs filed, LOIs / DILs issued . As per Budget 2018-19, the government has allocated an outlay of Year Number Proposed Investments (US$ billion) Rs 312 crore (US$ 48.41 million) for Industries Department ,mainly towards pending benefits under IPR. Also,the state government has 2013 40 16.37 allocated Rs 5 crore (US$ 0.78 million) to support Odisha Start Up 2014 27 4.68 policy. 2015 23 4.02

2016 36 3.49

2017 31 1.08

2018 45 2.33

2019* 7 0.07

Note: *As of January 2019, IEM: Industrial Entrepreneur Memoranda, LOI: Letters of Intent; DIL: Direct Industrial Licenses Source: Economic Survey of Odisha 2017-18, DCO – Odisha Industrial Infrastructure Development Corporation, MoU – Memorandum of Understanding

27 ODISHA For updated information, please visit www.ibef.org INDUSTRIAL INFRASTRUCTURE…(2/2): SEZs AND INDUSTRIAL ESTATES

. The state has five operational IT SEZs with 1 located in Bhubaneswar & the other located in Jatni Tehsil, as of January 2019. Odisha also has one operational SEZ for production & export of aluminium, one for mineral-based industries and one for Multi products.

. The state has 17 SEZs as of January 2019, of which, five are operational, five are notified & seven are formally approved.

. IDCO is the main developer for forty per cent of the formally approved SEZs. The state has 86 industrial estates.

Formally approved SEZs (As of January 2019) Operational SEZs in Odisha (As of January 2019)

Industry Location SEZs (No) Industry Location SEZs (No) IT/IT(Knowledge Orissa Industrial Khurda 3 Infrastructure Park)ITeS Bhubaneswar IT/ITES Development Corporation Multiproduct Ganjam 1 (IDCO) Vedanta Aluminium Brundamal and Manufacture and Metal based SEZ Japur 1 Limited Kurebaga villages export of aluminium

Mineral based industries Ganjam 1 Saraf Agencies Private , Mineral-based Limited Gunjam district industries Manufacture & export Jharsuguda 1 Village Of aluminium Orissa Industrial Gaudakashipur Infrastructure IT (Knowledge and Arisal, Tehsil Development Corporation Park) Jatni, District (IDCO) Khurda, Odisha Tata Steel Special Economic Zone Limited Gopalpur, District- Multi Product (formerly Gopalpur Special Ganjam, Odisha Economic Zone Limited)

Source: Ministry of Commerce & Industry, Government of India, IDCO – Odisha Industrial Infrastructure Development Corporation

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KEY SECTORS

 Metals & Mining

 Agriculture

 IT/ ITeS & Electronics

 Tourism KEY SECTOR – METALS & MINING…(1/2)

. Odisha is one of India’s richest states in terms of mineral reserves. Mineral revenue in Odisha (US$ million)

The mineral belt is spread over an area of more than 6000 sq km. 1,100 Moreover, the state accounts for more than 35 per cent of total iron 1,000

900 1,045

ore resources of the country. The key minerals found in the state are 800 1,059

914

884 865 iron, coal, bauxite, manganese, nickel, chromite, limestone, dolomite, 700 859 600

graphite, decorative stones, beach sand, china clay, tin ore, etc. 500 677 400 . Odisha is considered to be the aluminium capital of India and is an 300 200 ideal location for setting up aluminium and aluminum-based 100 companies due to the presence of more than half of the country’s 0

bauxite reserves, in the state, and presence of Vedanta, Hindalco

2012-13 2017-18 2013-14 2014-15 2015-16 2016-17

and NALCO in Odisha. Odisha being one of the largest producers of 2018-19T iron and steel in the country, accounts for 10 per cent share in the Mineral Production in Odisha (2018-19)* (@,#) nation’s steel production. Minerals Production

. Under State Budget 2018-19, Government has proposed an outlay of Coal (‘000 tonnes) 42,606 Rs 114 crore (US$ 17.69 million) for the mining sector including Rs Bauxite (tonnes) 4,702,867 31 crore (US$ 4.81 million) for Integrated Mines, Mineral & Chromite (tonnes) 1,401,698 Management System (i3MS) and Rs 18 crore (US$ 2.79 million) for Iron Ore (total) (‘000’tonnes) 36,826 Mineral Exploration & Auction. Manganese Ore (tonnes) 149,448 Sulphur (tonnes) 65,401

Note: T – Target, @:Excluding Fuel, Atomic and Minor Minerals. #:Value not available for Fuel Minerals., * -as of July 2018 Source: Ministry of Mines, Government of India, Department of Steel & Mines, Government of Odisha

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Key players

. OMC was established in 1956 to explore and harness the mineral wealth of Odisha. In 1961, it became a state- owned corporation of the Government of Odisha. OMC has reserves of around 654.9 million tonnes of iron ore, 6.3 million tonnes of manganese-ore, 25.3 million tonnes of chromite, 19.6 million tonnes of limestone and other Orissa Mining minerals. OMC has 35 mining leases (chromite - 11, iron - 11, iron & manganese - 5, manganese - 3, limestone - 1 Corporation Ltd and gemstone - 4).

. Coalfields Limited is one of the major coal producing company of India. It is an eight subsidiaries of Coal India Limited and was formed in April 1992. It has two coalfields at Talcher & IB Valley in Odisha. Ltd (MCL)

. Rungta Mines Limited is the flagship company of the S R Rungta Group. The company specialises in mining iron- ore and manganese ore. it is also involved in mining of limestone, dolomite, fireclay and bauxite.The company has one million tonne cement plant in Odisha, which will involve an investment of US$ 126.5 million. Rungta Mines Ltd

31 ODISHA For updated information, please visit www.ibef.org KEY SECTOR – AGRICULTURE…(1/2)

. Odisha's main agriculture products are rice, pulses, oilseeds, Agriculture production in Odisha – ‘000 tonnes (2018-19)1 vegetables, groundnut, cotton, jute, coconut, spices, sugarcane, Rice 6,854.90 potato and fruits. There is a vast scope for agro-based industries for rice, lentils, edible oil-milling, dehydration of vegetables, maize- Pulses 385.70 milling, cattle and poultry rearing, cotton oil, potato chips, coconut oil, Fruits 2,275.32

sugar mills, mushroom cultivation, non-edible oils and others. Vegetables 8,758.15

Plantation crops 332.20 . The production of fruits and vegetables is estimated to have reached 2.28 million tonnes and 8.76 million tonnes in 2018-191, respectively. Aromatic 0.61 Spices 207.95 . The production of rice in the state is estimated to have reached 6.85 Honey 1.46 million tonnes in 2018-19.

. As per Budget 2019-20, an amount of Rs 7,552.27 crore (US$ Requirement, availability and sales of fertilizers in Odisha 1046.75 million) has been allocated to the Department of Agriculture (‘000 MT) (during the month of February 2019) and Farmers’ Empowerment. Further, for increasing the supply of Fertilizer Requirement Availability Sales fertilizers in the state, a new scheme-“Grant to State procurement agencies” is being planned for providing financial support to Urea 32.00 56.35 44.33

procurement agencies, in order to fulfil their handling charges. DAP 17.00 39.20 8.50

MOP 8.50 25.39 6.61

NPK 33.50 60.69 12.20 Note: 1-1st Adv. Est 2018-19. Source: Department of Agriculture, Cooperation & Farmers Welfare, Government of India

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Key players

. The company was established in the year 1961 and has a average capacity to crush 19,000 tonnes of sugarcane a day. The company has four crushing units, three units are located in Tamil Nadu while one in district. The Odisha plant has sugarcane processing capacity of 2500 tonnes per day. Sakthi Sugars Ltd

. The company was established in the year 1963. Its plant is located in Aska town of the Ganjam district in Odisha, 170 km from Bhubaneswar. The cooperative employs 900 people and provides livelihood to 20,000 sugarcane Aska Cooperative Sugar growers in the area. Presently, the plant has a crushing capacity of 2,500 tonnes per day. Industries Ltd

. IFFCO produces and distributes fertilizers to farmers and member co-operatives in India. Its products include urea and fertilisers, indigenous seeds and chemicals. The Odisha plant is situated at the Bhubaneswar - National Highway ,which can produce 2 Million TPA DAP/NPK, 7000 TPD of Sulphuric Acid and 2650 TPD of Indian Farmers Fertiliser Phosphoric Acid. Cooperative (IFFCO)

33 ODISHA For updated information, please visit www.ibef.org KEY SECTORS – IT/ITeS AND ELECTRONICS … (1/2)

. The IT sector is dominated by over 300 SMEs. The sector employs around 12,000 software professionals. In order to attract ICT investments, the centre is considering a mega project in Bhubaneswar, Odisha. During 2016-17 it has provided employment for 4,786 people.

. In May 2018, Odisha government has inked an agreement with AISECT, to offer skill-based education and to provide vocational training in 44 schools, which is expected to benefit 1,800 students.

. The state has an ample talent pool to cater to the needs of this industry. It produces 40,000 technical & management professionals & 50,000 general graduates every year.

. The state government announced plans to spend US$ 663.57 million by 2020 for the development of IT/ITeS/ESDM sector of Odisha, with an aim to create more than 100,000 job opportunities through this investment. Increased demand from IT giants such as TCS, Infosys & Wipro is expected to generate 30,000 jobs in the state. Policy initiatives and statutory framework

To develop IT/ITES/ESDM industries in the state of Odisha and to promote start-ups , Products and R&D /Innovation Firms, Incubation Centres in Educational Institutions & Private sector, Electronic System Information and Communication Design and Manufacturing (ESDM), Entertainment IT (Visual Effects, Animation, Gaming) , Mega IT Technology Policy (ICT), 2014 Projects, Level II Cities , T Parks/IT SEZs/IT Clusters .The government is incentivising by providing Entry Tax Exemption (during construction) for a period of 3 years and IT/ITES/ESDM industries to be provided with separate SEZs. The government of Odisha has given importance to the ESDM by providing it with subsidies and special Special Incentive Package Scheme incentive packages such as training subsidy ,100% VAT reimbursement for a period of 5 years for ESDM Exemption on entry tax on machinery and equipment. This policy considers IT and ESDM on top priority by offering incentives to attract investments and The Industrial Policy Resolution promote economic growth in the state of Odisha. 2015

Source: Invest Odisha

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Key players

. Infosys was set up in 1981. It has presence in the areas of IT consulting, modular global sourcing, process re-engineering and BPO services. The company has international operations in countries such as Australia, China, Japan, UK, Germany, the US and marketing and technological alliances with Informatica, IBM, HP, Microsoft, Oracle, etc.. In Odisha, it has a world-class development centre at Bhubaneswar which anchors Infosys’ relationships with clients from Canada, Europe and North Infosys Ltd America.

. TCS is among the leading Indian IT services, business solutions and outsourcing companies.TCS employs over 387,000 Tata Consultancy people worldwide with a presence in 55 countries. It has operations in Odisha (in Bhubaneswar) since 2001. Services (TCS)

. Established in 1945, it has presence in the areas of IT services, product engineering, technology infrastructure services, BPO and other consulting solutions. The company provides services such as application development, deployment and maintenance, business intelligence and Customer Relationship Management (CRM). In February 2008, the company set up a development centre in Bhubaneswar. Wipro Ltd

. Established in 2001, Orisys Infotech is a software development company, which offers services from system applications to business application development. It is involved in a variety of services, such as software development, web solutions, e- commerce, multimedia and search engine optimization. The company is based in Bhubaneswar. Orisys Infotech Pvt Ltd

35 ODISHA For updated information, please visit www.ibef.org KEY SECTOR– TOURISM

Total tourist arrivals in Odisha (millions) Hotel Infrastructure in Odisha

16.0 No. of No. of No. of 14.0 No. of No. of Year Hotels Hotels Hotels 12.0 Rooms Beds

10.0 (HSG) (MSG) (LSG) 14.11

8.0 12.90

11.80 10.80

6.0 9.80 2013 306 356 923 33,349 65,967

9.10 8.33

4.0 7.64 2.0 2014 334 399 956 35,373 70,600 0.0

2015 383 455 921 36,382 73,086

2010 2011 2012 2013 2014 2015 2016 2017

2016 433 474 916 37,674 75,152

. Bhubaneswar, the capital city of the state, is known as the temple city of India & is home to about 500 temples. , Bhubaneswar & Konark are the main centres for religious tourism.

. In 2017, 14,011,229 domestic tourists & 100,014 foreign tourists visited the state of Odisha. Odisha has vast potential for development of tourism. It is one of the critical sectors of the state’s economy, in terms of foreign exchange earnings as well as employment generation opportunities.

. As of March 2017, 357 places of Odisha have been recognized as major tourist attractions.

. Under State Budget for 2019-20, an investment of Rs 183.50 crore (US$ 25.43million) is proposed for the growth and development of the tourism sector.

Source: Economic Survey of Odisha 2017-18, Tourism Report, Government of Odisha, Ministry of Tourism, Government of India

36 ODISHA For updated information, please visit www.ibef.org ODISHA

KEY PROCEDURES & POLICIES SINGLE–WINDOW CLEARANCE MECHANISM… (1/2)

Investments handled Under the chairmanship of Nodal agency

Greater than High-level clearance Chief Minister of Odisha US$ 219.4 million authority Industrial Promotion and Investment Corporation of Odisha (IPICOL) (Team Odisha): State-level Between State-level single-window US$ 10.9 and Chief Secretary clearance authority US$ 219.4 million

Less than District-level single-window District Industries District Collector US$ 10.9 million clearance authority Centre

38 ODISHA For updated information, please visit www.ibef.org SINGLE-WINDOW CLEARANCE MECHANISM … (2/2)

. The government enacted the Orissa Industries Facilitation Act, 2004, for implementing the single-window clearance system for faster and one- point clearance of industrial projects, single-point dissemination of industrial project related information and streamlining inspection of industries by different agencies and authorities.

. The District-level Single-Window Clearance Authority works under the chairmanship of the District Collector for projects involving investment less than US$ 10.9 million.

. The State-level Single-Window Clearance Authority is chaired by the Chief Secretary of the state for projects involving investment of US$ 10.9 million or more, but less than US$ 219.4 million.

. A High-level Clearance Authority chaired by the Chief Minister of Odisha examines and considers proposals for industrial and other projects involving investment of US$ 219.4 million or above.

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Agency Description

. IPICOL is a key promotional institution. It was incorporated in 1973 with the main objective of Industrial Promotion and Investment accelerating the pace of industrial development by promoting large and medium scale industries. Corporation of Odisha Limited . In 2014-15, the IPICOL received 26 combined application forms for setting up projects with an (IPICOL) investment of US$ 11.97 billion.

Industrial Development Corporation of Orissa . IDCOL was established in 1962 to promote, establish and run industries in the state. Limited . The corporation, since its inception, has set up 15 industrial units across sectors including (IDCOL) cement, ferrochrome, pig iron and spun pipe.

. IDCO was established with the objective of providing infrastructure assistance for rapid establishment and orderly growth of industry in Odisha. Orissa Industrial Infrastructure Development Corporation . The corporation is engaged in multiple activities that foster rapid industrialisation in the state by developing industrial infrastructure. (IDCO) . In 2012-13, IDCO allotted 352.530 acres of land and sheds to 14 new industrial estates/areas across the state.

. APICOL’s aim is to strengthen the rural economy by providing financial support for promotion Agricultural Promotion and Investment and development of agro-based and food-processing industries. Corporation of Odisha Limited . APICOL provides subsidy to the agro-processing and food-processing units in the state. (APICOL) . In 2009-10, the corporation promoted 145 commercial agro-enterprises with an aggregate investment of about US$ 24,38,619.77 .

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Agency Description

. OSFC is a premier state-level financial institution that was established in 1956 to cater to the needs of industrial development in the state.

Orissa State Financial Corporation . It provides financial assistance to small and medium scale industries in consortium with state- (OSFC) level financial institutions.

. Besides, the corporation also receives financial assistance from the state and central governments, and provides soft loans and margin money for rehabilitation of sick industrial units.

. OPDC is the only public sector undertaking in the fishery sub-sector and aims at carrying on Orissa Pisciculture Development Corporation business in pisciculture in brackish water areas, freshwater ponds and other water sources. Limited (OPDC) . It has launched a number of projects such as supplying fishnet, fuel and fish seeds for the economic development of fishermen. . DEPM has been set up to promote export of goods from Odisha and to provide marketing assistance to SSI units of the state.

Directorate of Export Promotion & Marketing . It disseminates market intelligence, oversees enquiries related to tenders and trade from existing (DEPM) and potential exporters and entrepreneurs.

. It provides guidance in export processing, pricing of export items and on different incentives for exports, granted by the Government of India.

. OSIC was established in April 1972, with the main objective of aiding and assisting SSI units in the state for their sustained growth and development. Odisha Small Industries Corporation Ltd (OSIC) . The corporation has been extending help for marketing support, financial assistance on purchase of raw materials, providing sub-contracting opportunities in the construction sectors and also rendering various other services to SSI units.

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Agency Description

. Established in 1956, OSCHC is the primary authority engaged in encouraging exporters, The Orissa State Cooperative Handicrafts enlarging marketing opportunities, introducing new design and technology and strengthening the Corporation (OSCHC) production base in the handicrafts sector.

Orissa State Electronics Development . OSEDC was established in 1981 as the nodal organisation in the state for promotion of Corporation (OSEDC) electronic industries, both in hardware and software.

. GRIDCO is a Government of Odisha undertaking and was incorporated in April 1995 for power transmission.

Grid Corporation of India Limited . In 2005, GRIDCO’s transmission-related activities were transferred to Orissa Power (GRIDCO) Transmission Corporation.

. Now, GRIDCO is a trading company and is involved in the bulk sale of power to the four power distribution companies in Odisha. It also trades surplus power with neighboring states.

. OSPCB is responsible for managing hazardous waste, bio-medical waste, municipal solid- waste, recycled plastics, batteries as well as manufacture, storage and import of hazardous Orissa State Pollution Control Board chemicals. (OSPCB) . Its functions are broadly classified under areas such as enforcement, advisory, monitoring, research and facilitation.

42 ODISHA For updated information, please visit www.ibef.org CONTACT LIST

Agency Description

Killa Maidan, Cuttack-753 001

Phone: 91-0674-2536640

Directorate of Industries Fax: 91-0674-2536819

E-mail: [email protected]

Website: http://diodisha.nic.in/

IPICOL House, Janpath, Bhubaneswar-751 022

Phone: 91-0674-2542 601 Industrial Promotion and Investment Fax: 91-0674-2543 766 Corporation of Odisha Limited (IPICOL) E-mail: [email protected]

Website: http://www.ipicolorissa.com/

43 ODISHA For updated information, please visit www.ibef.org KEY APPROVALS REQUIRED

Timelines for approvals and clearances

Department Timeline

Incorporation of company Registrar of Companies

Registration/Industrial License/Industrial Entrepreneurs District Industries Centres for SSI, Secretariat for Industrial Assistance (Government of Memorandum (IEM) India) for Large and Medium Industries

Allotment of land Industrial Infrastructure Development Corporation (IDCO)

a) IDCO Permission for land use b) Department of Town and Country Planning (In case industry is located outside an industrial area) c) Local authority/District Collector No-Objection Certificate (NOC) and consent under Orissa State Pollution Control Board (OSPCB) Water and Air Pollution Control Act

Forest and environment clearance Ministry of Forest & Environment, Government of India

Approval of construction activity and building plan Concerned Development Authority

Distribution Companies- CESU, NESCO, SOUTHCO, WESCO Sanction of electricity Transmission Company- Orissa Power Transmission Corporation Limited (OPTCL)

Water supply Department of Water Resources

Factory and boiler clearance Chief Inspector of Factories and Boilers

Orissa State Financial Corporation (OSFC), IPICOL, Commercial Banks such as IDBI, Finance ICICI, State Bank of India, etc. Orissa Value Added Tax (VAT) Act, and Central and Commercial Tax Department and Central and State Excise Department State Excise Act

44 ODISHA For updated information, please visit www.ibef.org COST OF DOING BUSINESS IN ODISHA

Cost parameter Cost estimate

Land (per sq m) US$ 2 to US$ 15

Office space rent (per sq ft per month) US$ 0.2 to US$ 2

Residential rent (for a 2,000 sq ft house, per month) US$ 200 to US$ 400

Five-star hotel room (per night) US$ 200 to US$ 450

Power cost (per kwh) Industries: US 7.5 cents to US 10.4 cents

Labour cost (minimum wage per day) US$ 2.5 to US$ 3.41

Source: Ministry of Labour and Employment, Government of India, Industry sources

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Objectives

Excise Policy 2017-18 . To adopt excise duty, fee structure and guidelines for the settlement of excise shops and establishments.

Read more

Export Policy 2017 . To provide necessary support to exporting industries with the aim of providing a boost to exports. (Draft) . To establish a institutional mechanism for regular dialogue with export sector. Read more

Odisha Mobile Towers, . To streamline the process of application and grant of permission for telecom infrastructure within specified time OFC and related lines. Telecom Infrastructure . To facilitate establishment of modern telecommunication infrastructure to provide high speed internet. Policy, 2017 Read more

. To create an environment conducive to public/private/community participation and investments in renewable Renewable Energy energy Policy 2016 . To facilitate R&D and development of manufacturing units in the renewable energy sector. Read more

MSME Development . To encourage new manufacturing capacity based on improved competitiveness. Policy 2016 . To facilitate MSMEs in accessing domestic and export markets. Read more

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Objectives

. To promote sustainable tourism with a view to create employment opportunities and to bring about socio-economic benefits to the community. Odisha Tourism Policy 2016 . To give high priority to development and promotion of prime tourism products, conservation of heritage, etc

. Read more

. To develop a world class “Start-up Hub” in Odisha by 2020

Odisha Startup Policy - . To create a strong institutional framework for effective implementation, monitoring and evaluation of this policy STATE2016 ACTS & POLICIES … (2/4) . To create an enabling environment and supporting eco-system that facilitates at least 1,000 startups in the next five years Read more

Industrial Policy . To revolutionise the state of Odisha into a dynamic industrialised territory. Resolution (IPR) 2015 . To attract investments and promote economic growth in the state of Odisha. Read more

Special Economic Zones . To encourage domestic as well as foreign investments in the state of Odisha. Policy 2015 . To promote economic activities in the state and increase exports from SEZs in Odisha. Read more

Entrepreneurship . To bring about a change in the mind-set regarding entrepreneurship through elimination of negative biases towards Development Policy the sector. 2015 . To support start-ups in the state by providing infrastructure facilities, marketing assistance and credit. Read more

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Objectives

Information & Communication . Development of new IT/ITeS locations across the state through upgradation of the IT infrastructure by setting up IT Technology (ICT) Policy parks. 2014 Read more

The State Reservoir . Tapping the potential of aquaculture to contribute to food and nutritional security. Fishery Policy 2014 . Boosting the public-private partnership investment across the sector. Read more

. To promote the use of solar energy in the state in order to support development and address the problem on Odisha Solar Policy 2013 energy security. Read more

Odisha State Urban . To provide universal access to potable piped water supply on 24/7 basis at an affordable price and in an equitable, Water Supply Policy, sustainable and an eco-friendly manner with verifiable service level bench mark for citizens in urban areas of the 2013 State. Read more

. Equal opportunity and experience to enable youth for developing knowledge, skills and competencies to play an State Youth Policy 2013 active role in all aspects of the society Read more

48 ODISHA For updated information, please visit www.ibef.org STATE ACTS & POLICIES … (4/4)

Objectives

State Agriculture Policy . To bring in a shift from the present level of subsistence agriculture to profitable commercial agriculture. 2013 . To promote sustainable agricultural development. Read more

. To lay down the principles of equitable and judicious use of water for survival of life, welfare of human beings and Water Policy 2007 sustainable as well as balanced growth of the state. Read more

Orissa Public Private . To supplement scarce public resources, create a more competitive environment, help improve efficiencies and Partnership (PPP) Policy reduce costs. 2007 Read more

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ANNEXURE ANNEXURE…(1/2)- SOURCES

Data Sources

GSDP (state) Economic Survey 2017-18 (Odisha)

Per capita GSDP figures Economic Survey 2017-18 (Odisha)

GSDP (India) Economic Survey 2017-18 (India)

Installed power capacity (MW) Central Electricity Authority, as of February 2019

Wireless subscribers (No) Telecom Regulatory Authority of India, as of January 2019

Internet subscribers (Mn) Telecom Regulatory Authority of India, as of September 2018

National highway length (km) NHAI, Roads and Building Department-Government of India

Major and minor ports (No) India Ports Association

Airports (No) Airports Authority of India

Literacy rate (%) Economic Survey 2017-18 (Odisha)

Birth rate (per 1,000 population) Economic Survey 2017-18 (Odisha)

Cumulative FDI equity inflows (US$ billion) Department for Promotion of Industry and Internal Trade, April 2000 to December 2018

Operational PPP projects (No) DEA , Ministry of Finance, Government of India

Operational SEZs (No) Ministry of Commerce & Industry, Department of Commerce, January 2019

51 ODISHA For updated information, please visit www.ibef.org ANNEXURE…(2/2) - EXCHANGE RATES

Exchange Rates (Fiscal Year) Exchange Rates (Calendar Year) Year INR INR Equivalent of one US$ Year INR Equivalent of one US$

2004–05 44.95 2005 44.11 2005–06 44.28 2006 45.33 2006–07 45.29 2007 41.29 2007–08 40.24

2008–09 45.91 2008 43.42

2009–10 47.42 2009 48.35 2010–11 45.58 2010 45.74 2011–12 47.95 2011 46.67 2012–13 54.45 2012 53.49 2013–14 60.50

2014-15 61.15 2013 58.63

2015-16 65.46 2014 61.03 2016-17 67.09 2015 64.15 2017-18 64.45 2016 67.21 Q1 2018-19 67.04 2017 65.12 Q2 2018-19 70.18

Q3 2018-19 72.15 2018 68.36

Source: Reserve Bank of India, Average for the year

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