Home Industry Odisha Attracts 26K CR Invest

Odisha Attracts 26K CR Invest

Bhubaneswar: With a huge success to Odisha Business Meet Tokyo, 2023, the State Government has attracted investment to the tune of Rs 26,000 crore to Odisha.    

The Government of Odisha in association with the Indian Embassy in Japan, the Japan External Trade Organization (JETRO), and the Federation of Indian Chamber of Commerce and Industry (FICCI), hosted the Odisha Business Meet Tokyo 2023 on Wednesday.

Team Odisha led by Chief Minister Naveen Patnaik has received the investment intents in the sectors like logistics, metal ancillary, steel, metal downstream, green hydrogen and green ammonia, green energy equipment manufacturing and IT/ITeS,

The meeting was attended by over 200 delegates, representing various industries from across Japan.

Addressing the investors, Chief Minister Shri Patnaik, said, “Odisha is one of the fastest growing economies in India and has consistently grown above the national average in the last decade and a half. We are fast emerging as a major industrial destination in India because of our natural resource advantage and strategic location.”

Odisha’s abundant natural resources, skilled and productive human resources, progressive policies, and strong result-oriented governance provide a unique ecosystem, he said.

Shri Patnaik further said that Odisha is ranked among the top states in India in terms of attracting investments and has been accorded the achievers status in the recently released ease of doing business ratings by the Centre.

He also highlighted how Odisha is becoming the fulcrum of trade and commerce in the Bay of Bengal region and the measures the undertaken by his government to help industries looking to cater to the untapped markets in Eastern and North-Eastern India as well as markets in ASEAN and East Asia region.

Speaking about industrialization in this era of technological innovations, the CM said “As we enter into a new era of industrialization propelled by advancements in technology and a philosophy of sustainability, we require a collaborative effort between the governments, industries and people to ensure consistent growth.”

Odisha, a State known for its rich culture and tradition, is transforming into a modern industrial hub, he said.

Shri Patnaik said his government is focused on providing the best-in-class facilitation to all investors coming to Odisha.

“We are also deeply committed to protecting our rich cultural history. The renovation and restoration of Buddhist Pilgrimage Sites have been a key agenda of my government. We are transforming sites like Dhauli, Udaygiri, Ratnagiri and Lalitgiri,” he added.

The Chief Minister requested all Japanese investors to visit Odisha and experience the change. “Come, invest in Odisha, Invest in the future. Come, Join the Juggernaut,” he appealed.

Addressing the gathering, Industries and MSME Minister Pratap Keshari Deb stressed that “Under the leadership of Chief Minister, the State Government has taken a whole-of-Government approach toward service delivery to citizens and businesses.”

“We are today becoming a destination of choice for investors across the country. I would like to welcome all the industry captains, associations and their members present here to come and explore Odisha as your next investment destination,” Deb said.  

Chief Secretary Pradeep Kumar Jena welcomed the august gathering and shed light on how Odisha has been one of the major breakout states in the country in terms of development, registering impressive GSDP growth rates year-after-year and industrializing at break-neck speed under the leadership of the Chief Minister.

Principal Secretary, Industries, Hemant Sharma made a presentation about the industrial ecosystem in Odisha to the audience. He highlighted the State’s over two decades of stable governance, the state’s position in the EoDB ranking, the competitive cost of doing business, the impact of investment facilitation, best-in-class incentives and highly skilled human resources, which gives the state a distinct competitive advantage over others.

Principal Secretary, Electronics & IT, Manoj Mishra spoke about the emerging IT/ITeS ecosystem in the State. He also highlighted the growth-focused and future-oriented IT Policy, Data Centre Policy, BPO Policy, and Electronics Policy brought in by the Government of Odisha to further strengthen the ESDM and IT/ITeS sector and attract new investments into the State.

Kazuya Nakajo, Executive Vice-President, JETRO, highlighted the emerging business opportunities between Japan and India. He termed the partnership between the two countries more as a “Familial Bond” rather than a “Business Relationship”.

Shri Nakajo spoke about the various upcoming measures being taken by the Government of India including the creation of large-scale industrial infrastructure across the country and urged his Japanese friends to seriously consider major investments in India.

He also highlighted Odisha’s strategic location and natural resource advantage as a key to Odisha being an attractive investment destination for Japanese investors.

Mayank Joshi, Deputy Head of Mission, Indian Embassy of Japan, highlighted the ease of doing business reforms carried out by India and its impact in making a robust industrial ecosystem across States.

Shri Joshi also praised Odisha for the investment promotion and facilitation initiatives taken by the state.

The event was attended by more than 200 leading companies in Japan and the Indo-Pacific region who witnessed the offerings of the Government of Odisha and got an opportunity to explore various avenues of collaboration with the state government and local companies in Odisha.

During the day, the Chief Minister held one-to-one meetings with senior industrialists across sectors and discussed their plans for investments in India and presented the case for Odisha being the best investment destination for them.

During the discussions, Mr Patnaik highlighted the major pro-business reforms undertaken by his government.

Shri Patnaik and the state government delegation also held a meeting with the senior leadership of JICA and discussed various upcoming social-sector and infrastructure projects in Odisha. The JICA leadership reiterated their commitment to supporting infrastructure development in the State.