Bhubaneswar, Aug. 13 -- Union Minister Dharmendra Pradhan on Wednesday stated that Odisha has become an "investment destination" as the government has been planning for a long time to bring the "new-age economy" to the state.

He said the Union Cabinet has decided to provide 50 per cent subsidy for three new semiconductor projects in the country, especially in eastern India.

"Earlier too, there were industries and businesses in Odisha, they were all related to traditional things... but we have been planning for a long time to bring the new-age economy to Odisha. These days, Odisha has become an investment destination. Yesterday, the Union Cabinet decided to provide a 50% subsidy for three new semiconductor projects in India, especially i...