Chief Minister Mohan Charan Majhi, who is in New Delhi, has held several rounds of one-on-one discussions with top industry captains since yesterday and joined an Investors’ meeting today at Taj Palace. During this period, several MoUs have been signed attracting huge investments to Odisha.
Overall, 13 MoUs were signed amounting to 98,880 Crore, significantly enhancing the state’s capabilities in across sectors. The projects are expected to generate around 67,000 employment opportunities, fostering regional economic growth and boosting industrial activity. Besides, 15 investment intents were received. The total investment offers amount to Rs 1,03,090 creating employment opportunities for 95,915 persons.
One of the most significant highlights of the event was the official signing of a Memorandum of Understanding (MoU) between the Government of Odisha and Indian Oil Corporation Ltd (IOCL) for the establishment of a Dual-Feed Naphtha Cracker Project. This landmark agreement is expected to bring in investments of over Rs 58,042 Crore generating employment for 24,000 people.
In addition to the MoU with IOCL, agreements were also signed with the Indian Strategic Petroleum Reserves Ltd (ISPRL) and Petronet LNG. These partnerships reinforce Odisha’s strategic role in India’s petrochemical landscape and reflect a commitment to sustainable industrial development, import substitution, and a resilient supply chain.
The visit of Chief Minister Mohan Charan Majhi to New Delhi has been marked by strategic engagements and partnerships that are expected to accelerate economic growth and position Odisha as a formidable hub for industry, particularly in the petrochemical and technology sectors.
As a major step forward, the Government of Odisha signed a series of high-value Memorandums of Understanding (MoUs) with leading industry players in New Delhi. The agreements with industries entail an investment of ₹98,880 crore. The initiative is expected to generate around 67,000 jobs.
In his keynote address at the investors’ meeting, emphasised the vision of Odisha to emerge as a petrochemical and manufacturing hub. He said that Today’s MoU with Indian Oil Corporation Ltd. is a landmark moment in Odisha’s industrial journey. It reflects not just a shared vision but a strong belief in the state’s potential to lead India’s petrochemical revolution from the east. Paradip, with its strategic location and evolving infrastructure, is poised to become a transformative industrial hub—much like Dahej port in the west (Gujarat). Odisha is ready, and we invite you to invest in our bright future. Yahi Samay Hai, Sahi Samay Hai, the CM said emphasizing that this is the right time to invest in Odisha.
Engagement with Industry Leaders
The visit featured productive one-on-one meetings with notable industry leaders from various sectors at the Taj Palace Hotel in New Delhi. Chief Minister Majhi engaged in discussions with representatives from a diverse array of companies, including:
- Kiri Industries: Focused on setting up a specialty chemical production unit.
- Himadri Specialty Chemical Ltd.: Planning to revamp a tyre manufacturing unit in Balasore.
- SLMG Beverages Pvt. Ltd.: A leading bottler in India, expanding manufacturing capacity within Odisha.
- Chowgule Group: Exploring the establishment of a shipbuilding and repair unit in the state.
- Inox GFL Group: Looking to invest in the chemical sector, specifically after acquiring Gujarat Fluorochemicals.
- Bombay Dyeing Mfg. Co. Ltd.: Discussed potential investments in home furnishing and textiles.
These interactions demonstrated a significant investor interest in establishing manufacturing units that would contribute to local economic development and job creation. Additionally, discussions with the Association of Indian Manufacturers of Medical Devices (AIMED), the Toy Association of India, the United States India Business Council, and others highlighted the growing interest in various sectors, including medical devices and apparel.
Commitment to Economic Growth
During the visit, Chief Minister Majhi assured industry leaders of the Odisha government’s unwavering commitment to facilitating economic growth. He emphasized the administration’s dedication to enhancing infrastructure, streamlining regulatory processes, and investing in skill development that aligns with industry needs.
The impact of the MoUs signed during this visit is expected to be multifaceted:
- Job Creation: With significant investments, the establishment of manufacturing units is expected to create thousands of jobs across various sectors, directly benefiting local communities.
- Economic Diversification: The emphasis on diverse sectors, from petrochemicals to textiles and food processing, will contribute to the economic resilience of Odisha, reducing dependency on a single sector.
- Infrastructure Development: Investments will enhance Odisha’s infrastructure capabilities, including transportation, utilities, and technology systems, creating a robust environment for business operations.
- Skill Development: Collaborations with industry leaders will facilitate skill development initiatives, ensuring the local workforce is equipped to meet the demands of rapidly evolving industries.
- Boosting Exports: Enhanced manufacturing capabilities in sectors such as chemicals and textiles will position Odisha as a key player in national and international export markets.
Overall Impact and Future Prospects
This visit to New Delhi has successfully highlighted Odisha’s potential as a growing industrial hub in Eastern India. The agreements signed, alongside the fruitful discussions held, are expected to yield substantial long-term benefits for the state’s economy.
The Government of Odisha remains focused on creating a thriving industrial ecosystem that supports innovation and improves the quality of life for its citizens. The outcomes of this visit mark a positive step forward and promise a transformative impact on Odisha’s industrial landscape.
As Odisha embarks on this exciting journey, the Chief Minister looks forward to continued collaboration with industry leaders and stakeholders to realize the immense potential that the state holds.
The visit marked a significant step forward in Odisha’s industrial journey. Under the strong and visionary leadership of Chief Minister Shri Mohan Charan Majhi, the state reaffirmed its mission to become a leading hub for investment, innovation, and inclusive growth. The signed MoUs and industry engagements reflect growing investor confidence and a clear path toward sustainable economic development powered by proactive governance and strategic vision.
The program began with a welcome address by Manoj Ahuja, Chief Secretary, Odisha, followed by remarks from A S Sahney, Chairman, IOCL. A video on the chemicals sector ecosystem and a presentation by Hemant Sharma, Additional Chief Secretary, Industries and MSME, showcased Odisha’s industrial growth strategy.
The event was addressed by Sampad Chandra Swain, Minister for Industries and Skill Development & Technical Education, Odisha, followed by Union Ministers Jual Oram (Tribal Affairs), Dharmendra Pradhan (Education), and Hardeep Singh Puri (Petroleum and Natural Gas), who lauded Odisha’s proactive approach to industrialisation.
