bhubaneswar is open for business-short version-final
TRANSCRIPT
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BHUBANESWAR IS OPEN FOR BUSINESS
I thought of taking a step back in time to set the background. I was born on 17th March
1974, celebrated as St. Patrick's Day. When I passed my graduation in 1992; the prior year
saw Mandal Commission, Bhubaneswar saw violence by the youth for the first time is such
a scale. When I passed my post graduation in management in 1997 the financial market
was in doldrums with CRB scam just a year old and Harshad Mehta re-emerging; offering no
jobs, for the youth . When I built my first house in 1999, the super cyclone devasted
Bhubaneswar; as if there was no future of the youth . Post a decade, when I started my
first business in 2009; with the help of my wife Sudha, in the field of pre-primary education;
Bhubaneswar was a NOT a sought after business destination . Delays in the largest FDI
raised doubt on the pace of industrialization and farmer suicides questioned agribusiness
viability. Many asked Does Bhubaneswar mean business ?
But then Bhubaneswar saw winds of change . The youth diverted energies to wage war
against poverty through entreprenuership ; enabler was private equity . Bhubaneswar
being surplus - power, water, clean air - for which the world is fighting today; the
entreprenuership storm set roll.
Historically, we are a mineral and metals driven state. However every major project today,
from infrastructure based Port to knowledge based Biotech Park symbolizes the new
spirit. Government is now an enabler rather than a hindrance to the growth of business.
Today, a visit by Silicon Valley Venture Capitalist is taken as seriously as that of a visiting
Head of State.
Odisha has seen a pro-business, pro-reform mindset and this has enabled perception
change. The state contributes three of the countrys largest tax payers. Between 2005-06
and 2009-10, Bhubaneshwar topped the list by registering a 146 per cent growth incollection of personal income tax. None other than Reserve Bank of India has stated that
Odisha commands the First position in investments and none other than World Bank has
stated that Bhubaneswar is the third best city to do business . The Thirteenth Finance
Commission has projected Odisha to be number two in the country in its growth between
2010-11 and 2014-15; a Gross State Domestic Product growth rate of 12.63%. It is not
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easy to lobby this position for a poor perceived state and hence it gives me the convinction
that the Bhubaneswar has finally arrived .
A critical factor in the transformative relationship between the government and the startups,
micro and small industries/enterprises has been the increasing role of a new breed - Invest
Bhubaneswar.
The entreprenuers of Odisha are not just looking for money, but more importantly
learnings; future reading of the market; know how & best practices; so that they can
partner with international entreprenuers for mutual gain as Odisha emerges from a
sleeping state to an emerging hub .
Today the glass looks fuller than empty . It has been a journey that has witnessed a
shift from hostile to inviting to almost , proactive if I may call it that. For the first time in
generations, we are witnessing the rise of entrepreneurship in every sector, in every nook
and corner. As someone who does not work for the developed nation and as a first
generation entrepreneur myself; I believe there has never been a better time to be engaged
with the economic rise of Bhubaneswar. The sign is clear, Ladies and Gentlemen,
Bhubaneswar is open for business and we invite you to partner for transformative
growth .
Best,
Devasis Sarangi
Invest Bhubaneswar, Core Team Member - National
[email protected] , +91-9437028958