Company Registration ( Formation/ Incorporation/ Setup ) in Odisha, India
Get professional consultancy for company registration and setup, incorporation services in Odisha state of India at most affordable rates. GKS Consulting has served private limited companies, public limited companies, one person companies, limited liability partnerships etc all over the country. Apart from company Setup in Odisha we also provide company conversion services, Foreign direct invest (FDI) assistance, NRI tax and business consultancy etc.
We have helped more than a hundred companies in areas such as; Puri, Cuttack, Anugul, Sambalpur, Bhubaneswar, Koraput, Rourkela, Jeypore, Dhenkanal, and Bhadrak. Some reputable companies in Odisha that have enlisted our services are metal and mineral based industries. The state of Odisha is ahead in the production of important metals such as steel, iron, ferrous alloy, and aluminum. The state also tops the output of handloom, handicraft, mining, IT, electronics, and tourism. There is also local coal produced in the area that is used to produce energy.
The economy of the state saw growth in the years 2004-2005, 2013-2014 with its gross state domestic product (GSDP) widening at a compound annual rate (CAGR) of 15.7%. The sector that accounted for 8.9 per cent of Odisha's GSDP during FY 2013-14 was the mining sector and the sector saw a growth of CAGR of 17.8 percent from fiscal year 2004-05 to 2013-14. Odisha is the first state in India that has embarked on bringing about changes and restructuring initiatives in the power sector. By April 2014, Odisha had installed power generation capacity of 7,737.1 megawatt (MW).
The government of Odisha has embarked on several infrastructural based projects to spur development. The roads, airports, telecoms, power lines and rails network of the state are comprehensively connected.
Need Quick and Reliable Online Private Limited Company Incorporation, Fresh Company Registration, New Co. Formation and Business Set-up Services anywhere in Odish, India: Top Company Formation Experts, Best Indian Chartered Accountants (CPA), Reliable Company Experts, Renowned Consulting Company, National level Advisors / Consultants of Odisha - Ask Companysetupindia.com, a unit of GKS Consulting Private Ltd.
We provide Following Services anywhere in Odisha, India: Complete solution for incorporation of New Company | Apply Name Search | How to Incorporate New Private Limited Company ? Incorporation of Pvt Ltd Co | Procedure for Incorporating a Pvt. Ltd. Co. | Where to Form a Public Limited Company ? Forming a Pub Ltd Co | Formation of Pub. Ltd. Co. | Why to Register an Indian Subsidiary ? Registering an Indian Subsidiary | Registration of Indian Subsidiary |How to make Subsidiaries ? Making of Holding Company | Why to Open a Limited Liability Partnership (LLP) ? Opening a Limited Liability Partnership | Where to open a LLP ? Setup of LLC | Set-up of LLP | Set up of LLP | Setting up of L.L.P. | Setting-up of L.L.P. | To Start a LLC PLC OPC PTE | Starting a L.L.C. | Types of Companies any where in Odisha | Forming Corporation in Odisha | Setting up Business by Foreign Companies |Foreign Direct Investment (FDI) | Liaison Office | Representative Office | Project Office | Branch Office | Obtaining Section 8 Company License | Certificate of Incorporation | Process and Procedure | DIN (Director Identification Number) | DSC Class One Two Three| Digital Signature Certificate | Joint Venture Company | Company Limited by Guarantee | Unlimited Company | Government Company | Nidhi Company | Mutual Benefit Company | Not for Profit Co. NGO, N.G.O.| Section 8 Company | Part IX Company | Producer Company | One Person Company | Sole Proprietorship | Partnership Firm | Cooperative Society | Charitable Trust | Body of Individual, BOI| Association of Persons, AOP |FAQ | Frequently asked questions - Companysetupindia | ROC | R.O.C. | Registrar of Companies | Corporate Laws of Odisha | Companies Act | Business Entities in Odisha |Government Approvals for Investing in Odisha for Foreign Investors | Entry Strategies & Tax Planning in Odisha for Foreign Investors | Foreign Investment in Odisha Sector wise Guide | Doing Business in Odisha - Free Guide for Foreign Companies Doing Business with Odisha | Registering Trademarks in Odisha | Registering Patent in Odisha | Copy Right | Tax Rates in Odisha | Process Serving in Odisha.
About: Odisha is one of the 29 states of India. Located in eastern India, it is surrounded by the states of West Bengal to the north-east, Jharkhand to the north, Chhattisgarh to the west and north-west, and Andhra Pradesh to the south. Odisha has 485 kilometres (301 mi) of coastline along the Bay of Bengal on its east, from Balasore to Ganjam. It is the 9th largest state by area, and the 11th largest by population. It is also the 3rd most populous state of India in terms of tribal population. Odia is the official and most widely spoken language, spoken by 60 million according to the 2016 Census.
The ancient kingdom of Kalinga, which was invaded by the Mauryan emperor Ashoka in 261 BCE resulting in the Kalinga War, coincides with the borders of modern-day Odisha. The modern state of Odisha was established on 1 April 1936, as a province in British India, and consisted predominantly of Odia-speaking regions. April 1 is celebrated as Odisha Day (Utkala Dibasa). The region is also known as Utkala and is mentioned in India's national anthem, 'Jana Gana Mana'. Cuttack was made the capital of the region by Anantavarman Chodaganga in c. 1135, after which the city was used as the capital by many rulers, through the British era until 1948. Thereafter, Bhubaneswar became the capital of Odisha.
Major Towns of Odisha: Angul, Boudh(Bauda), Bhadrak, Balangir, Bargarh(Baragarh), Balasore, Cuttack, Debagarh(Deogarh), Dhenkanal, Ganjam(Chhatrapur), Gajapati(Paralakhemundi), Jharsuguda, Jajpur(Panikoili), Jagatsinghpur, Khordha, Kendujhar(Keonjhar), Kalahandi(Bhawanipatna), Kandhamal(Phulbani), Koraput, Kendrapara, Malkangiri, Mayurbhanj(Baripada), Nabarangpur, Nuapada, Nayagarh, Puri, Rayagada, Sambalpur, Subarnapur(Sonepur), Sundargarh.
Economy of Odisha: The economy of Odisha is one of the fastest growing state economies in India. According to 2014-15 economic survey, Odisha's gross state domestic product (GSDP) was expected to grow at 8.78%. Odisha has an agriculture-based economy which is in transition towards an industry and service-based economy. According to recent estimates, the size of Odisha's economy has increased by 22.27 per cent during the last six years in terms of the gross state domestic product (GSDP). Thereby, Odisha achieved an annual average growth rate of 6.23 per cent during that period. Odisha is also one of the top FDI destinations in India. In the fiscal year 2011-12, Odisha received investment proposals worth 49,527 crore (US$9.296 billion). According to the Reserve Bank of India, It received 53,000 crore (US$8.33 billion) worth of new FDI commitments in the 2012-13 fiscal year.
Agriculture and Livestock: According to the 2011 Census of India, 61.8% of the working population are engaged in agricultural activities. However, the agricultural's contribution to the GSDP was 16.3% in the fiscal year 2013-14 and it was estimated to be 15.4% in 2014-15. The area under cultivation was 5,691 hectares in 2005-06 and it dropped to 5,424 hectares in 2013-14. Rice is the dominant crop in Odisha. It is grown on 77% of the area under cultivation. Odisha produced 8,360 metric tonnes of rice in 2013-14, a drop from 10,210 metric tonnes due the cyclone Phailin. Given below is a table of 2015 national output share of select agricultural crops and allied segments in Odisha based on 2011 prices.
During 2013-14, the state exported 4.13 lakh tonnes and 1,800 crore worth of seafood. In 2014-15, the value of exports rose by 26% to 2,300 crore with 4.67 tonnes being exported. Odisha is the fourth largest shrimp producing state in India. On 22 November 2017, Odisha government decided to launch 'Nabakrushna Choudhury Seccha Unnayan Yojana' to provide irrigation facility to about 55,000 hectare of agricultural land across Odisha. The scheme would be implemented with an outlay of Rs 635 crore over a period of three years. Under the scheme, 46,296 hectare command area of 14 major and medium irrigations and 284 minor irrigation projects will be revived.
Industry: The primary industries in Odisha are manufacturing; mining and quarrying; electricity, gas and water supply and construction. The industrial sector's contribution to the state's GSDP was estimated at 33.45% in 2014-15. Most of Odisha's industries are mineral-based. Odisha has 25% of India's iron reserves. It has 10% of India's production capacity in steel. Odisha is the top aluminium producing state in India. Two of the largest aluminium plants in India are in Odisha, NALCO and Vedanta Resources. Mining contributed an estimated 6.31% to the GSDP.
Power: Odisha has 9036.36 MW installed capacity of electricity production, out of which 6753.04 MW is coal-generated. 2166.93 MW is generated by hydro power and 116.39 MW by other renewable sources.
Odisha was the first state in India to reform its power sector. In 1996, it passed the Orissa Electricity Reform Act to restructure and privatize the sector. Before the Act, the single public-sector company Orissa State Electricity Board (OSEB) had been producing and supplying electricity in the state since its establishment in 1961. But by 1994-95, OSEB had run into heavy losses and there was a gap of 45% between consumption and production. The reforms unbundled power generation from transmission and distribution. Following the reforms, hydro power plants were handed over to Odisha Hydro Power Corporation (OHPC) and the existing thermal power plants were transferred to Odisha Power Generation Corporation (OPGC). Grid Corporation of Odisha (Gridco) was given the task of power supply. Initially, these were operated as state-owned farms, but later were corporatised.
In August 2014, the government announced a plan to invest 54,000 crore in the power sector over the next 5 years, to provide 24-hours electricity to both the urban and rural regions. Odisha expects to reach a power surplus during its peak consumption months by 2015-16.
Service: The service sector contributed an estimated 51% to the GSDP in 2014-15. The primary sub-sectors are: community, social and personal services, which contributed 13.45% to the GSDP; trade, hotels and restaurants, which contributed 13.09%; financial and insurance services, which contributed 13.64%; and transport, storage and communication, which contributed 10.99%. The state has a well-developed banking network compared to many states of India. There is one bank branch for every 12,000 people. 90% of the branches are in the rural region.
Poverty: Despite continuing rapid industrialization and absorption of urban educated populaces into the service sector, poverty remains high in the state. The Reserve Bank of India, in a 2013 report said 32.59 % of the population of the state live below the poverty line. Odisha came in 23rd among states and union territories, on this count.
Macro-economic Trend: Odisha is experiencing steady economic growth. The impressive growth in gross domestic product of the state has been reported by the Ministry of Statistics and Programme Implementation. Odisha's growth rate is above the national average. The central Government's Urban Development Ministry has recently announced the names of 20 cities selected to be developed as smart cities. The state capital Bhubaneswar is the first city in the list of smart Cities released in January 2016, a pet project of the Indian Government. The announcement also marked with sanction of Rs 50,802 crore over the five years for development.
Industrial Development: Odisha has abundant natural resources and a large coastline. Odisha has emerged as the most preferred destination for overseas investors with investment proposals. It contains a fifth of India's coal, a quarter of its iron ore, a third of its bauxite reserves and most of the chromite. Rourkela Steel Plant was the first integrated steel plant in the public sector in India, built with collaboration of Germany.
Arcelor-Mittal has also announced plans to invest in another mega steel project amounting to $10 billion. Russian major Magnitogorsk Iron and Steel Company (MMK) plans to set up a 10 MT steel plant in Odisha, too. Bandhabahal is a major area of open cast coal mines in Odisha. The state is attracting an unprecedented amount of investment in aluminium, coal-based power plants, petrochemicals, and information technology as well. In power generation, Reliance Power (Anil Ambani Group) is putting up the world's largest power plant with an investment of US$13 billion at Hirma in Jharsuguda district.
In the year 2009 Odisha was the second top domestic investment destination with Gujarat first and Andhra Pradesh in third place according to an analysis of ASSOCHAM Investment Meter (AIM) study on corporate investments. Odisha's share was 12.6 percent in total investment in the country. It received investment proposal worth . 2,00,846 crore during the last year. Steel and power were among the sectors which attracted maximum investments in the state. Flood and cyclone are the major hurdles in Odisha's development as the important districts are situated near to the Bay of Bengal. In the five-year period between 2004 and 2005 and 2008–09, Odisha's GDP has grown by a stunning 8.74% way beyond the definition of 7% growth. All-India growth during this period was 8.49%. In this period, Odisha was the fourth fastest growing state, just behind Gujarat, Bihar, Uttarakhand.
Steps to Incorporate a Private Limited Company/OPC (One Person Company) anywhere in Odisha