If you are looking for a place where you can do business, you will not go wrong in choosing the city of Odisha. It is one of the largest states in India and is in the process of transforming itself from an agricultural to an information technology hub. The state has a lot of potential as it is strategically located in the foothills of the great Himalayas and is well placed to exploit the commercial advantages offered by the state's environs. The state has the most suitable climate for growing a large number of small businesses, which makes it the perfect place for the entrepreneurs of the 21st century. What factors are responsible for this?
The state's geography plays a vital role in helping it attract a large number of businesses. While the state's eastern coast has the westernmost part of the Western Ghats and the Arabian Sea, the state's west-flowing rivers offer an ideal setting for cultivating a large number of small enterprises. In addition, the state's strategic location at the confluence of three rivers – Beas, Teesta and Bicholim – offers a lot of opportunities to the farmers and the other small entrepreneurs. For example, agriculture is one of the main sectors that have flourished in Odisha despite the global economic crisis. This explains why the state boasts about its abundance of cotton, sugarcane and tobacco.
There is also a large number of chemicals and fertilizers that make the soil of the state very fertile and help it achieve a high level of agricultural production. A large number of garment manufacturing industries have been established here as factories and other employment generating units. However, the state's dependence on outside sources of raw materials has made it vulnerable to strikes by labor unions or to pollution. To fight this, the state's ruling party has often accused the Left of selfishly benefiting from the state's natural assets.
One cannot ignore the importance of tourism in the state. Most of India's wildlife reserve areas lie in Odisha and these areas are home to numerous endangered species of animals, birds and even insects. Besides, the state is known for its rich flora and fauna, particularly in the states of Kamtapur and Bhatye Beach. These factors have helped the tourism sector to flourish in the state.
The government has also done a lot to promote small businesses in Odisha. It has made a number of measures to increase the inflow of foreign investment in the state. The main attraction for foreign investors is not only its rich flora and fauna but also its strategic geographical position. All along the coastline, there are a number of small and medium scale industries generating their own local products. Some of the main industries that have sprouted in the coastal regions of Odisha are textiles, footwear, cement, glassware, automobile, engineering, cottages, hotels and food processing.
While all these industries make a significant contribution to the state's economy, the most important aspect is tourism. Since this state attracts a million and a half tourists every year, the tourist industry supports a huge set of small businesses. These businesses take care of hotel and motel bookings, showrooms, travel desks and tickets. Apart from these services, the state also offers a wide range of leisure activities such as scuba diving, trekking, golf, polo, tennis and horseback riding. These activities have a positive influence on the state's economy.
Even though the state has a strong economy, it is yet to develop big. This is mainly because of a shortage of resources. Development requires investments and if the state does not have sufficient capital, it will face a difficult time in the future. According to a survey conducted recently, it was found out that the state's economy has contracted by more than twenty percent over the past two years due to lack of basic resources. To bring this graph back up, the state government must quickly develop infrastructure if it wants to resume growth in the tourism sector.
Though there are several companies offering surveys which give points for each state's economy, they are not impartial. They select their surveys depending on their own biases. According to these surveys, Kerala scores the highest for its economy. However, it may come as a surprise to many people that the same place also houses the largest number of garment manufacturing units. So, it is not just about which small business is best in Odisha, it is about the whole economy.
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