Bhubaneswar: Odisha is poised to attract significant investments, with 54 Memorandum of Understanding (MoUs) already signed on the first day of the Utkarsh Odisha: Make In Odisha Conclave in Bhubaneswar.
Industries Secretary Hemant Sharma said that some MoUs were prepared in advance, while others will be signed during the CEO Roundtable, attended by Chief Minister Mohan Majhi.
Prime Minister Narendra Modi’s inaugural speech emphasized that now is the right time to invest in Odisha, encouraging companies to take advantage of the state’s opportunities under “Modi ki Guarantee.” This has led to increased interest from companies, including significant investments from JSPL, Adani Group, and JSW Group.
The Adani Group signed an MoU with the Odisha government, committing an investment of Rs 2.3 lakh crore over the next five years across a host of sectors, the highest among the 54 MoUs signed. JSW Group will set up a 5 mtpa steel plant in Keonjhar district with an investment of Rs 35,000 crore.
The government hopes to attract investments worth Rs 5 lakh crore during this conclave, which is being attended by industry leaders, envoys, and business delegations from over 16 countries.
Odisha is also seeking foreign investments beyond the mining sector, focusing on employment-intensive sectors like textiles, IT, shipbuilding, and new-age sectors such as green fuels and electronics manufacturing.
