Mumbai: The Odisha government hosted an investors’ meet in Mumbai on Saturday to attract potential investments in the state on account of its mega investment summit Utkarsh Odisha. With an aim of a vibrant and developed Odisha by 2036, the new Odisha government aims at attracting investment in various manufacturing fields at the Make In Odisha Conclave 2025 to be held in January.
Odisha chief minister Mohan Charan Majhi along with ministers and senior bureaucrats of the Odisha government hosted a global investment roadshow in Mumbai on Saturday for industry leaders and business figures.
Odisha Chief Minister Mohan Charan Majhi Hosts Investors' Meet in Mumbai to Promote Make In Odisha 2025 Summit | File Photo
‘Utkarsh Odisha: Make In Odisha Conclave 2025’ is scheduled to be held on January 28 and 29. Odisha government is aiming at increasing the investment and employment opportunities in the state, which already has an economy of Rs. 9.25 lakh crores with a growth rate of 8.5%.
With the tagline of ‘New Government Double Speed’, the new Odisha government led by the Bharatiya Janata Party has envisioned the state as an emerging leader in chemicals, textiles, food processing, information technology, renewable energy, biotechnology, electronics, automobiles, pharmaceuticals and tourism sectors.
Odisha Chief Minister Mohan Charan Majhi Hosts Investors' Meet in Mumbai to Promote Make In Odisha 2025 Summit | File Photo
According to Hemant Sharma, principal secretary for industries to the Odisha government, Odisha stands second in the country after Maharashtra in attracting higher ongoing investment, worth Rs. 20.1 lakh crores, in FY 2023.
The mineral-rich coastal state produces India’s 25% of coal, 35% of iron ore, 44% of manganese, 53% bauxite, 92% nickel and 96% of chronite, along with being the only viable state for rare-earth minerals. Odisha aims at expanding their metal sector in the upcoming years by increasing steel manufacturing from 41.2 MMT to 164 MMT, stainless steel from 2.2 MMT to 3.2 MMT, alumina from 6.5 MMT to 19.1 MMT and aluminium from 2.6 MMT to 3.8 MMT.
Odisha CM Majhi said, “Odisha plays a crucial role in driving India’s growth engine. As the state is fast becoming an industrial powerhouse, the government is developing a robust ecosystem for seamless investments. The state is ready for business and under the new government, it is constantly striving to create new opportunities and jobs. With initiatives like the Single Window Clearance System and GO-SWIFT, the state ensures streamlined investment processes. Its strategic location on India’s eastern coast, robust infrastructure, and access to global markets make it a hub for industrial growth.”
The state also aims at attracting more investment in the shipping business highlighting its four ports including Subarnarekha, Paradip, Dhamra and Gopalpur. While the major ports located in Maharashtra and Gujarat cater to the Eurpoean and American markets, Odisha’s ports aim to cater to the South-eastern countries, becoming India’s gateway to Association of South East Asian Nations (ASEAN) region.
Sampad Charan Swain, Odisha’s minister of state for industries, skill development and technical education, said, “The Odisha government is setting new standards in skilling the youth of the state and our investors are actually investing in a future-ready workforce. Synergy between Maharashtra and Odisha is significant as Maharashtra is financially strong to invest whereas Odisha can provide resources to investors from Maharashtra. Together, we can drive mutual growth and innovation.”
