Make In Odisha Conclave Attracts Huge Investments in the state

The third edition of Make in Odisha conclave, showcasing the state as a preferred investment destination has received investment proposals to the tune of Rs 10.5 trillion. It also said the investment proposals could generate over 10 lakh direct and indirect jobs.

As per the reports, the inaugural edition in 2016 had generated investment intentions of Rs 2.03 trillion and the second edition in 2018 generated more than Rs 4 trillion.

The Odisha conclave turned out to be a massive show of strength for Chief Minister Patnaik with the who’s who of the Indian and global industry in attendance – from Lakshmi Mittal, Anil Agarwal to Sajjan Jindal, Naveen Jindal and Karan Adani – on the first day. And they all expressed willingness to invest in the state. Odisha brings a myriad of investment opportunities that are sure to power the next leg of India’s growth and transformation journey.

Odisha has witnessed many initiatives into technology and infrastructure growth in terms of providing land, electricity and several other facilities under its single window policy made under the leadership of the Honourable chief Minister Shri Naveen Patnaik. The event witnessed the set-up of the Submarine Cable landing station at Puri. India’s subsea cable infrastructure is highly essential to support next-gen business.

About 741 companies showed interest in investing in Odisha. Of the total investment received, metals, ancillary and downstream sector accounted for the largest share at Rs 5.50 trillion, followed by power, renewable energy & green energy at Rs 2.38 trillion; logistics & infrastructure received proposals adding up to Rs 1.2 trillion, chemicals, petrochemicals & plastics received Rs 76,000 crore. Other sectors that attracted investment included cement, manufacturing, IT, agriculture & food processing.

Chief Minister Naveen Patnaik assured investors that the state will walk the extra mile for them. He said, “We will walk the talk. It will be a win-win situation.” The Chief Minister also expressed gratitude to the summit’s partner countries - Japan, Norway, and Germany and said, “I hope we would further strengthen the ties and create more opportunities for mutual trade, commerce, and people-to-people relationships.”

The event witnessed an opportunity as an effective platform for:

§ Networking

§ Impart knowledge

§ Forge partnerships

§ Facilitate growth of start-ups across sectors

The chief minister also launched the Industrial Policy Resolution 2022 which focuses on making Odisha the destination of choice for industrial enterprises across the country and globally. At the same time, the Industries Minister Pratap Dev said, the target of a developed Odisha has been set by 2036.

After agriculture and skill development, the government is now giving priority to the industrial sector. Odisha is a progressive state with a clear focus on transformation in all sectors. 

S Mohini Ratna, Editor, VARINDIA