The Government of Odisha holds out a plethora of possibilities adopting therewith a pragmatic approach to usher in balanced socio-economic growth in the State through industrialization, appropriate harnessing of natural resources and maximizing the employment potential of the local workforce. As part of this vision, in the year 2001, the Government announced the Industrial Policy Resolution (IPR) that marked a paradigm shift in the process of industrial growth, such as provision of enabling environment; private investment led growth and focus on sectors to benefit poor (examples - tourism, forestry, fisheries, horticulture, etc) and modern manufacturing and services sector. The State has a vision of creating a congenial business climate to attract investment in mineral based industry and infrastructure projects; raising income, employment and economic growth; and reducing regional disparities in economic development. The State initiated active investment promotion initiatives in reaching out to the private sector with concrete investment potential in sectors such as mineral value addition, power generation, cement, agro-processing, IT/ITES, etc.
"Team Odisha" constitutes the broad institutional framework of the Government that is engaged in industrial facilitation and investment promotion in all key areas of economic growth. The Chief Minister is the captain of Team Odisha and the principal goal of the Team is to provide necessary synergies and convergence of all Government efforts to ensure Odisha's position at the vanguard of economic and social prosperity. The Odisha Industries (Facilitation) Act 2004 was enacted to provide single-window clearances and regulatory framework so as to reduce transaction costs and times for investors. The High Level Authority chaired by the Chief Minister and State Level Authority chaired by Chief Secretary have been constituted to evaluate investment proposals and accord clearances. Industrial Promotion and Investment Corporation of Odisha Limited (IPICOL) and Odisha Industrial Infrastructure Development Corporation (IDCO) have been entrusted with multi-faceted roles of investor support. At the District level, the General Managers of District Industries Centres (DIC) have similar roles. Since, the idea is to making "doing business" easy in Odisha, the Chief Secretary is leading the initiative of moving all Departments to simplify Acts, Rules, Policies or Procedures that may be a hindrance to business. The system of inspection is being rationalised to provide for common or joint inspections by all different Departments, Agencies or statutory Authorities. Grievance redressal for industries is being managed at the highest levels in the Government.