MANUAL-1 

Particulars of Organization, Functions & Duties

[Section-4 (1) (b) (i)]

ABOUT IPICOL : THE PARTICULARS OF ITS ORGANIZATION, FUNCTIONS AND DUTIES

Industrial Promotion & Investment Corporation of Odisha Limited (IPICOL) was incorporated on April 12, 1973 by Government of Odisha to promote Medium and Large Scale Industries in the State by providing necessary support services including Equity participation and Term loans.

During its existence, it has financed more than 285 units in the State in different sectors generating and investment of over Rs. 3700 Crore and creating employment opportunities for about 40,000 people.

During 2004-05, IPICOL was declared as State Level Nodal Agency (SLNA) for implementation of Single Window System (SWS) to promote and facilitate industrialization in the State. The Corporation being the State Level Nodal Agency for extending Single Window Services to the industries, it is stepping up its activities for industrial promotion by indentifying new sectors that can be promoted among investors. As part of its plan, it aims at procuring services of an experienced professional agency to act as the investment promotion agency in order to attracting investment into the state and increase employment opportunities.

MANDATE

IPICOL, has presently transformed itself to nodal Investment Promotion Agency of Government of ODISHA. The promotional role has been mandated in Odisha Industries (Facilitation) Act (OIFA) 2004, after IPICOL was designated as the State Level Nodal Agency (SLNA). The renewed mandate given to IPICOL under the OIFA is as under- 

1. To Provide Single Window clearance mechanism and Industrial Facilitation
2. To Undertake Investment promotional activities at the State, National & International arena;
3. To Facilitate Investment climate improvement exercises;
4. Rendering necessary assistance and feedback in policy formulation for industrial progress;
5. Design Growth Strategies for Industrial Sectors that are key drivers of the State Economy
6. Guiding and assisting entrepreneurs to set-up industries in the state;

VISION

To become the investment destination of choice by continuously creating and delivering outstanding opportunities for business growth, fostering all-round socio economic development for the state and its people.

MISSION

To maximize Odisha’s economic potential by leveraging our strength in our focus sectors, creating a business-friendly environment and an inclusive economy.

GOAL AND OBJECTIVES 

1. To support creation of investor friendly atmosphere in the State.
2. To provide guidance and assistance to entrepreneurs interested to set up industries in the state
3. To act as an interface between investors and Government through SLFC and Single Window (SW) clearance mechanism.
4. To enhance the brand equity of the State for attracting Investments.
5. To provide necessary assistance and feedback in policy formulation.

BUSINESS:

Industrial Promotion and Investment Corporation of Odisha Limited (IPICOL) have been entrusted with multi-faceted roles to provide investor support. Based on the Government policy and directives from time to time and as per provisions under the Odisha Industrial Facilitation Act, 2004, the main business objectives are: 

1. To promote and assist in rapid and orderly establishment, growth and development of industries, trade and commerce in the State.
2. To take up investment promotional activities at the State, National & International level in a manner to create awareness in order to generate interest for investment opportunities for the State.
3. To support and facilitate exercises aimed at improving the investment climate.
4. To assess and suggest the infrastructural requirements like land, water for the industries.
5. To maintain long-term relationship with potential as well as existing investors.