The Odisha Government hosted a highly successful Investors’ Meet at the Oberoi-Trident Hotel in Mumbai on October 18 and 19, 2024, as part of its major push to attract industrial investments ahead of the Utkarsh Odisha: Make In Odisha Conclave 2025. Led by Chief Minister Shri Mohan Charan Majhi, the event brought together senior government officials, industry titans, and key stakeholders, marking a significant milestone in Odisha’s quest to position itself as a leading industrial hub.
The two-day event saw participation from top industry leaders, including Vedanta Chairman Anil Agarwal, JSW Group’s Sajjan Jindal, Godrej Group Chairman Nadir Godrej, Welspun Group Chairman BK Goenka, Anant Ambani of the Reliance Group, and Aditya Birla Group Chairman Kumar Mangalam Birla. Senior authorities from IPICOL, IDCO, PwC, and CII were also present, reinforcing the government’s collaborative approach to driving investment in the state.
A Platform for Strategic Dialogue
The Mumbai Investors’ Meet served as an essential platform for strategic dialogue between the Odisha Government and industry leaders across sectors such as IT, chemicals, petrochemicals, manufacturing, plastics, and renewable energy. Chief Minister Majhi held extensive discussions with key industrialists, focusing on expanding ongoing investments and exploring new opportunities for collaboration.
During the event, Anil Agarwal discussed Vedanta’s expansion plans in Odisha, while Sajjan Jindal engaged with the Chief Minister on a new e-vehicle project in Naraj. BK Goenka expressed interest in developing a textile park at Choudwar, and conversations with Anant Ambani and Kumar Mangalam Birla centered around potential investments in various manufacturing and industrial sectors.
Strategic Infrastructure and Industrial Potential
Odisha’s abundant resources and strategic infrastructure were key topics of discussion during the meet. With an economy valued at Rs.9.25 lakh crore and a growth rate of 8.5%, Odisha is emerging as a critical player in India’s industrial landscape. The state’s rich mineral reserves—including coal, iron ore, bauxite, and nickel—offer immense opportunities for large-scale industrial investments.
Chief Minister Majhi emphasised Odisha’s position as a prime investment destination, stating: “Odisha is rapidly becoming an industrial powerhouse. With our Single Window Clearance System, GO-SWIFT initiative, and strategic infrastructure, we are ensuring a smooth and transparent investment process. Odisha’s skilled workforce, coupled with our robust infrastructure, positions us as a key player in India’s economic future.”
Senior Government and Industry Presence
The presence of senior officials from IPICOL, IDCO, and PwC, along with industry representatives from the Confederation of Indian Industry (CII), further bolstered the government’s efforts to attract diversified investments. These entities are working closely with the Odisha government to facilitate investment, infrastructure development, and ease of doing business in the state.
Mr.Hemant Sharma, Principal Secretary of Industries for Odisha, highlighted the state’s competitive edge, noting that Odisha ranks second only to Maharashtra in ongoing investment projects, with Rs.20.1 lakh crore committed in FY 2023. This strong track record reflects the state’s determination to become a top industrial destination in the country.
Odisha’s Expanding Industrial Sectors
Odisha’s push for industrial expansion is driven by its focus on high-growth sectors such as IT, biotechnology, automobiles, chemicals, renewable energy, food processing, and tourism. The state aims to significantly increase production capacities in metals, including plans to boost steel production from 41.2 MMT to 164 MMT, as well as stainless steel, aluminium, and alumina.
Additionally, the state’s strategic coastal location, with four key ports—Paradip, Dhamra, Subarnarekha, and Gopalpur—provides access to global markets, particularly in South-East Asia. These ports are poised to become vital gateways for exports, serving as a critical link between India and the ASEAN region.
Building Momentum Towards Utkarsh Odisha Conclave 2025
The Mumbai meet is part of a broader series of roadshows designed to build momentum ahead of the Utkarsh Odisha: Make In Odisha Conclave 2025, scheduled for January 28 and 29, 2025. The state aims to attract ₹5 lakh crore in investments through these outreach efforts, which include roadshows in Delhi and international destinations to engage with global investors.
The discussions at the Mumbai meet set the stage for deeper collaboration between Odisha and the business community. The state government assured potential investors of a streamlined land acquisition process, fast-tracked approvals, and a commitment to infrastructure development, all of which will support rapid industrialization in the state.
Collaborative Growth and Future Prospects
Shri. Sampad Charan Swain, Odisha’s Minister of State for Industries, Skill Development, and Technical Education, stressed the synergies between Maharashtra and Odisha, noting, “Odisha offers unmatched resources, while Maharashtra’s financial strength can help drive investments. Together, we can harness our collective strengths to spur mutual growth and innovation.”
The Odisha Government’s Investors’ Meet in Mumbai marks a critical step toward the state’s goal of becoming an industrial leader. With strong government backing, strategic partnerships, and a focus on future-ready industries, Odisha is well-positioned to attract significant investments and create substantial employment opportunities for its citizens. The Utkarsh Odisha Conclave 2025 promises to be the next major milestone in the state’s journey towards sustainable growth and industrial leadership.
Conclusion
The successful Mumbai Investors’ Meet showcased the Odisha Government’s proactive approach to investment facilitation and industrial development. With discussions centered around IT, manufacturing, chemicals, renewable energy, and infrastructure, the meet has laid a solid foundation for the upcoming Utkarsh Odisha Conclave 2025. As Odisha continues to rise as an industrial powerhouse, the state’s future looks bright, with key investments driving growth and development across multiple sectors.
Prasanta Patnaik