Bhubaneswar, June 22 (IANS): The Odisha government on Monday set a target to create additional employment for three lakh people and attract new investments to the tune of Rs.1.73 lakh crore by 2019-20 financial year in the industrial sector in the state.

The government has also targeted to increase the manufacturing growth by 60 percent with an increase of 15 percent on a yearly basis.

The target was set in the annual review meeting of industry department chaired by Chief Minister Naveen Patnaik here on Monday.

The chief minister directed the department to prepare a plan so that 27 percent of the state's gross domestic product comes from the manufacturing sector.

Sources said the government has targeted 60 percent increase in the contribution of the manufacturing sector to Gross State Domestic Product (GSDP) and 25 percent increase in the employment through manufacturing by 2019.

Patnaik also advised the department to finalise the guidelines for the SEZ policy and Industrial Policy Resolution 2015 to attract investments to the state.

Industry Minister Devi Prasad Mishra said the industry department aimed at sustainable revenue generation, value addition and employment generation.

"The government has planned investment and employment generation in three manufacturing zones - Kalinganagar investment and manufacturing zone, Dhamra Port-based manufacturing zone, and Paradip manufacturing zone," said Mishra.

"The government has completed the survey for creation of land bank of 1.12 lakh acres in the state," the minister added.

The meeting also discussed various projects, including electronics system designing manufacturing (ESDM) park at Bhubaneswar, seafood park at Deras, handloom park at Ganjam, aluminium park in Rayagada and Angul, and ancillary steel industries in Jharsuguda and Sambalpur.