The third edition of the ‘Make In Odisha Conclave’ concluded on Saturday with investment proposals totaling Rs 10.5 trillion, far exceeding previous editions. Industry leaders’ investment proposals will create over 10 lakh direct and indirect jobs in the state.
The Odisha government, in collaboration with the Federation of Indian Chambers of Commerce and Industry (FICCI), hosted the third edition of ‘Make In Odisha (MIO Conclave 2022),’ an investors’ summit that positioned the state as a preferred destination for investment across sectors. It began on November 30 with plenary sessions at Bhubaneshwar’s Janta Maidan.
According to the state government, the conclave has attracted investment proposals worth 10.5 trillion across several sectors, far exceeding previous editions. These investments will create over 10 lakh direct and indirect jobs in the state in the future.
The state generated investment intents of 2.03 trillion during the first edition of the investors’ summit in 2016, followed by 4 trillion during the second edition in 2018. Chief Minister Naveen Patnaik stated that this year’s investors’ summit was a great success during the valedictory session on Day 3 of MIO Conclave 2022.
He said, “I am happy to announce that the conclave has generated investment intents of Rs 10.5 trillion with an employment potential for 10,37,701 people. Let us all work hard to implement these investments on the ground and take Odisha to a new era of industry-led growth.”
Several Groundbreaking Transactions
Over the course of three days, 18,785 delegates from 11 countries attended the conclave, including global leaders, exhibitors, industry captains, and participants from Japan, Germany, Norway, Nepal, Bangladesh, Australia, Indonesia, Israel, China, Singapore, and Thailand. At the end of Day 3 of the MIO 2022, approximately 65 Memorandums of Understanding (MoUs) were signed.
MIO Conclave 2022 management committee claimed to The Logical Indian that a total of ten inauguration and groundbreaking ceremonies were announced during the conclave- Ultratech Cement inaugurated their cement plant in Cuttack, Astral Limited inaugurated their Plastic pipes and fitting factory in Cuttack, Brittania Limited extended their existing factory of biscuits, cakes, and other bakery products at Khurda Food Park, and Infunex Healthcare Private Limited set up a production facility at Ramdaspur, Cuttack, among others.
The event was a massive show of force for the Odisha government and investors interested in contributing to the state’s economic and social growth. Everyone from Sajjan Jindal to Lakshmi Mittal, Karan Adani to Naveen Jindal has expressed a desire to invest in Odisha.
Concentrate on Key Industries
During the MIO Conclave 2022, the metals, ancillary, and downstream sectors received 5.50 lakh crores (trillion), the power, green energy, and renewable energy sectors received 2.38 trillion, and the chemicals-petrochemicals and logistics-infrastructure sectors received 76,000 crores and 1.20 trillion, respectively.
Other industries that received attractive investment proposals included IT, agriculture and food processing, aerospace and defense, startups, electric vehicles, and education. Over 700 companies from around the world have expressed an interest in investing in Odisha since the summit’s inception. The government has also shifted its focus away from traditional businesses and toward IT and startups, which have the potential to increase job opportunities.
Prasanta Patnaik