Make In Odisha Conclave Attracts Rs 10.50 Lakh Cr Investment Opportunity

The “Land of Jagannath” - Odisha is turning to be the “Land of Opportunity”. Make in Odisha Conclave 2022 has been a grand success. Chief Minister Naveen Patnaik said that the conclave has generated investment intents of Rs 10.50 lakh crore with potential for 10.50 lakh direct and indirect employment. The international conclave arranged by Govt. of Odisha for investors with the intent to place Odisha on the Global Investment Map. Proposals worth INR 7.26 lakh crore were received on the first day itself.

The opening ceremony witnessed a colorful program that included a laser show portraying Odisha’s heritage, monuments, culture, and art. Over 11,600 registrations were received by the government to participate in the Conclave. The organizers successfully managed to line up 124 speakers and schedule 38 events spanning all the Conclave days.

“The Make in Odisha Conclave 2022 witnessed a generated investment intents of Rs 10.50 lakh crore with the potential for 10.50 lakh direct and indirect employment. It’s heartening to see the huge response we have got especially in the post covid scenario,” said Patnaik addressing the concluding session of Make in Odisha Conclave.

Odisha Chief Minister Naveen Patnaik with industry leaders attending 'Make in Odisha Conclave 2022', in Bhubaneswar

The event has 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 revised Industrial Policy which aims to transform Odisha into "Industrial Hub of Eastern India" by promoting industries in thrust and priority sectors of the state. The policy aims to map, develop and augment logistics facilities across the state, improve the efficiency of the supply chain, decarbonize the logistics sector, promote sustainable tourism, and Improve air connectivity, and post-harvest processing for farmers.

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. The Chief Minister announced the new industrial policy in the presence of industry leaders from abroad. Industries Secretary Hemanta Sharma said Make-in Odisha’s third edition will promote Odisha’s industrialization.

The heads from Adani Group, ArcelorMittal, JSW Steel, Vedanta Group were among the 54 corporate honchos present with Naveen Patnaik as he pitched for the Odisha story and a land of opportunity. “Odisha is destined to become a trillion-dollar economy in near future. We will emerge as the gateway to East and South East Asia. I invite you to come and invest in a New Odisha," the chief minister said.

The Day 1 of the Make in Odisha Conclave 2022, of the third Edition of Odisha’s flagship investor summit organized by the Government of Odisha in collaboration with Federation of Indian Chamber of Commerce and Industry (FICCI), witnessed the presence of global leaders, 54 industry captains, 12,000 individual registrations, 212 exhibitors, participants from 11 countries and several industry leaders at the 2 plenary sessions and 8 sectorial sessions.

The state launched the Industrial Policy Resolution 2022 which focusses on making Odisha the destination of choice for industrial enterprises across the country and globally. MakeinOdisha brings engaging discussions with business leaders, plenary sessions with CXOs, expert insights on new focus sectors in Odisha, a deep dive into the state's culture and so much more.

Key Highlights:

# Karan Adani, CEO, Adani Ports promised an investment of over Rs. 60,000 crore in the coming 10 years. The group is planning for 35 berths and a 5 MT LNG terminal at Dhamra Port, an alumina refinery and an iron ore project which will create thousands of jobs in the state.

# In a joint venture with Nippon Steel Lakshmi Niwas Mittal owned ArcelorMittal will be setting up a 24 million tonnes plant in Odisha. Tata Steel which has made investments of over ₹75,000 crore in Odisha will continue to invest in the state which has 25 per cent of India's total steel making capacity, its MD & CEO T V Narendran said.

# The Tata group of companies, and more specifically Tata Steel, has invested over ₹75,000 crore in Odisha in the last five years. We will continue to invest to support the growth in Odisha," the official said.

# Anil Agarwal, Chairman & Founder, Vedanta Resources along with Naveen Patnaik, virtually laid the foundation stone of Vedanta Aluminium Park, stated to be India’s largest metal park. He appreciated the government's resilient approach towards business growth and mentioned the Group’s investment of over ₹1 lakh crore while creating direct and indirect livelihood for 5 lakhs people in the state.

# JSW Group Chairman, Sajjan Jindal announced that the group will invest about Rs1 lakh crore more in Odisha for setting up a steel plant in Paradip and silicon metal plant to produce solar panels.

# Essar Capital will make an investment of about ₹52,000 crore in Odisha to set up various projects which include a 14 MT pellet plant and a 7.5 MT crude to petrochemical unit.

"Essar plans to set up several projects in Odisha. A 14 MTPA pelletizing complex at an investment of ₹12,000 crore, comprising an iron ore fines beneficiation plant, a pellet plant and 250 km slurry pipeline. Also proposes a 7.5 MTPA crude to petrochemical complex (CTC) involving about ₹40,000 crore investment," Ruia said at 'Make in Odisha Conclave 2022' in Bhubaneswar.

# A MoU was signed between Government of Odisha and RailTel Corporation Of India for setting up of a neutral submarine cable landing station

Initially the day 1 of the Make in Odisha Conclave 21 MoUs were exchanged and 46 Investment Intent Forms (IIF) were submitted amounting to ₹585,742.26cr. 2 MoUs were also signed with BSE and NSE, and Govt of Odisha for assisting the MSMEs of the state to get listed on the MSME exchange of BSE.

CM Patnaik has assured and said investors that his government will walk the extra mile for them. I thank the entire FICCI team for their support throughout the conclave. I would like to give special thanks to our country partners, Japan, Norway, and Germany. I hope that we further strengthen our relationships and create more opportunities for mutual trade, commerce, and people-to-people relationships.

“We will walk the talk. It will be a win win situation,” the CM said.

He thanked the entire FICCI team for their support throughout the conclave.

He also gave his special thanks to country partners, Japan, Norway, and Germany.

“I hope that we further strengthen our relationships and create more opportunities for mutual trade, commerce, and people-to-people relationships. The Make in Odisha Conclave 2022 concludes with a positive note. I thank each one of you for your immense contribution,” the CM Naveen said.