Bhubaneswar: The Odisha Cabinet on Monday approved a special incentive package for the proposed Titanium Metal & Aerospace Components Manufacturing and Integrated Advanced Specialty Steel & Automotive Components Manufacturing Complex by Kalyani Steel Limited at Gajamara in Dhenkanal.
The significant cabinet decision marks the foray of Odisha into the Aerospace and Defence Manufacturing Sector.
These projects, with a combined investment of over Rs 26,000 crores and employment potential of over 12,000, are set to usher in a new era of industrial growth and job creation in the state.
The approvals are a testament to the commitment of the Odisha government to foster a conducive environment for growth and innovation, particularly in the high-potential sectors of aerospace, defence and automotive manufacturing.
The project has the requirement of high-end high-skill jobs which shall be achieved in collaboration with local ITI and Polytechnics.
These tie-ups for up-skilling in Auto-Components, Specialty Steel and Alloys Manufacturing Sector will boost Odisha’s Skilling Landscape and has the potential to make Odisha the Skill Capital of India for New-Age Tech.
The project will bring in vendors in the areas of manufacturing and service sectors that will provide a boost to the local MSME’s and start-ups.
The Global Titanium products market and India’s share in it are expected to grow phenomenally in the coming years.
Kalyani Steel Limited being a major player in the Aerospace and Defence Component Manufacturing Sector can bring Odisha into this market.
This also provides Odisha with an opportunity to anchor Auto Components Manufacturing and attract OEMS in the auto sector.
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