Bhubaneswar: Odisha is moving at a fast pace on development, with the government led by Chief Minister Mohan Charan Majhi pursuing social and development programmes, expanding infrastructure and simultaneously stepping up efforts to bring investment into the state from across the world. The approach is aimed at accelerating economic growth, creating jobs and opening up new opportunities across sectors.
The state’s investment outreach in the United Arab Emirates from September 9 to 11 is the latest example of this effort. The Odisha Investors’ Meet resulted in proposed investments of Rs 2,42,162 crore, with an estimated employment potential of 6,18,725, according to the state government.
The three-day programme included six roundtables with 160 participants and 26 one-to-one meetings with investors and business leaders, as Odisha sought to attract capital from the Middle East and strengthen business, trade and technology links.
The UAE outreach comes amid a larger investment drive in the state. According to the state government, 514 projects involving investment intents of Rs 9.57 lakh crore have been received in the two years since the Majhi government came to power. Data from the Industrial Promotion and Investment Corporation of Odisha (IPICOL), the state’s nodal investment promotion agency, indicates that nearly half of these investment intents are at advanced stages of approval.
The state is targeting both established industries and newer areas of growth. Industries secretary Hemanta Sharma said the UAE outreach focused on downstream metals, food and seafood exports, port-based industrial and logistics parks, shipbuilding, critical minerals, rare earths, slurry pipelines and chemical and petrochemical industries.
The wider investment pitch included tourism, logistics, finance, processed food, green energy, LNG, IT and electronic systems, AI and data centres, infrastructure, healthcare, real estate, circular economy, ship repair and fertilisers.
Alongside attracting investment, Odisha is expanding the infrastructure needed to support industrial and economic activity. Its more than 550 km coastline and three operational all-weather ports at Paradip, Dhamra and Gopalpur provide a base for manufacturing, logistics and exports. Additional sites have also been identified for port development.
The proposed National Shipbuilding and Heavy Industries Park, Odisha Ltd. (NSHIPOL), planned along the Mahanadi riverbank in Kendrapara district near Paradip, is part of this infrastructure expansion. The Rs 24,700-crore project has received in-principle approval from the Centre.
Odisha is also moving into technology-intensive industries. Two semiconductor units approved by the Centre last year involve about Rs 4,000 crore. In May, the state signed an agreement with Intel Corporation and US-based 3DGS Inc for an advanced packaging glass-substrate facility near Bhubaneswar, with an estimated investment of more than Rs 31,000 crore. The Adani Group has also proposed a large AI-focused data centre in the state.
The UAE engagement has opened another channel for investment and business partnerships. An agreement involving Abu Dhabi-based International Holding Company and the Adani Group is expected to explore 14 projects covering downstream metals, slurry pipelines, critical minerals and rare earths, chemicals and petrochemical derivatives, renewable energy equipment, healthcare, industrial infrastructure, tourism, skill development and sports infrastructure.
Majhi also held one-to-one meetings with investors during the visit. The state showcased its One District One Product offerings and sought to connect local products and producers with wider markets.
The government also engaged with the Odia diaspora in Dubai, seeking to use the community’s business and professional networks to strengthen economic, business and cultural links between Odisha and the UAE.
The scale of the investment proposals will ultimately depend on implementation. Odisha has been pursuing investment-led growth for more than a decade, and previous investor outreach has also generated large commitments. The Opposition has questioned how far such announcements have translated into projects on the ground.
The Majhi government has pointed to the alignment between the state and Centre as a factor that can help speed up clearances and infrastructure approvals. The immediate challenge is to convert investment intentions into operating projects and jobs while ensuring that infrastructure and development work keeps pace with economic expansion.
For Odisha, the current effort is about moving on several fronts at once, from social and development programmes to infrastructure, manufacturing, technology and global investment. The UAE outreach is one part of that wider effort to accelerate the state’s growth.
BI Bureau
