Bhubaneswar, Dec. 1 -- The Odisha cabinet chaired by chief minister Naveen Patnaik on Tuesday approved the Industrial Policy Resolution (IPR) 2022 to attract investments to the state.

The new IPR will be applicable for five years, said an official statement issued by the government on Wednesday.

The major objectives of the policy is to make Odisha the industrial hub of Eastern India, to promote industries in the identified thrust and priority sectors, to develop bestin-class industrial infrastructure, to create an enabling environment for start-ups and MSMEs, and to promote innovation, research & development in new areas of technology, the release said.

The new industrial units in priority and thrust sectors will be provided wi...