The newly elected BJP-led government in Odisha hosted the Utkarsh Odisha–Make in Odisha Conclave 2025 in Bhubaneswar on January 28-29, aiming to position the state as a key investment destination. Official data indicates that a total of 145 Memorandums of Understanding (MoUs) were signed, securing investment commitments worth Rs12.89 trillion across 16 diverse sectors.
In addition to these agreements, government departments received 448 investment intent proposals amounting to Rs 3.84 trillion, with the potential to generate 392,000 jobs.
Odisha’s Chief Minister, Mohan Charan Majhi, underscored the conclave’s success in bolstering investor confidence—both domestic and international—across a range of industries.
Edited excerpts from the interview
Among the various MoUs signed, what is the profile of the investors? Which nations are expected to commit the largest share of investments?
After these two days of several meetings and sessions, more than 300 companies across various countries have reached out to us, and more than 150 MoUs have been signed so far and will be done sooner. We will also coordinate with several other companies. We are expecting to receive a total investment of Rs 5 lakh crore. Now, we have a ‘double engine’ government.
Even Prime Minister Narendra Modi guaranteed the investors that it is the right time to invest in Odisha, as they can invest in projects with assured success. We have tried to empower the people at the grassroots level for better development of the state. Within seven months of coming to power, we have been able to deliver what we have promised so far.
What strategies are in place to ensure Odisha remains competitive in attracting investments amid growing inter-state competition? Additionally, given that many MoUs often fail to materialise over time, how does the government intend to address this challenge?
I am not denying the fact that often several MoUs declared are not implemented. But with the Prime Minister himself assuring the investors on the first day of the event, we are also planning to further liberalize the policy for the ease of business. We know we are competing against several other states too, who have organized such summits/conclaves. So, we are also reaching out to several countries to do business.
I visited Singapore to initiate talks. Similarly, in April and May, we will be visiting Berlin, London, and Australia to initiate business talks. So, it is evident that there will be competition (among states), but the infrastructure and favorable policy (for ease of doing business) will be the deciding factor. We are designing policies to make Odisha more lucrative for foreign investors. Even the President of Singapore came to Odisha to meet us, and we already signed 8 MoUs.
Which sectors are the government’s key priorities for attracting investment?
The IT and semiconductor industries are our top priorities. A semiconductor company called SiCSem Private Limited has commenced the establishment of a compound semiconductor manufacturing facility in Bhubaneswar, Odisha, with an investment of Rs 2,500 crore. Our IT Minister, Ashwini Vaishnaw, himself was present at the meeting during the trade talk with this company. Several ambassadors and secretaries from countries like Japan, Indonesia, Italy, Malaysia, and some of the companies based in those countries also visited us, and we are having talks with them.
We signed MoUs relating to agro, chemicals, petrochemicals, textile, food processing, IT, green energy, power, and ports. We will ensure that every district in Odisha has one, two, or three industrial projects. For example, it was very challenging to have industries in districts like Malkangiri and Nabarangpur. But now, industries are coming to these districts as well.
