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Bhubaneswar is open for business
Author Name: AuroINSEO
Date added: December 18, 2010 07:14:10 AM
Category: News & Media: History

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 country's largest tax payers. Between 2005-06 and 2009-10, Bhubaneshwar topped the list by registering a 146 per cent growth in collection 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 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. Devasis Sarangi Invest Bhubaneswar, Core Team Member – National This initiative by Invest Bhubaneswar is supported by SEOservice provider – AuroIN LLC.

It is a privilege and an honor to welcome you to this symposium organized by Invest Bhubaneswar, and I thought, it would help to take a step back in time to set the background.

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