Building on the past 2 years of a high level of Odisha government approved investments amounting to over USD 50 billion since 2021, the Odisha government in India is attracting foreign direct investment (FDI) in sectors such as metals and downstream metals, chemicals and petrochemicals, textiles and clothing, including technical textiles, food processing, including seafood processing, ESDM, logistics and clean energy . In this regard, the Odisha Investors Meet was held today in Dubai. The meeting was held under the leadership of Shri Naveen Patnaik, Honorable Chief Minister of Odisha, India, along with a delegation of senior government officials from Odisha.
The Investors’Meet was organized jointly with FICCI and the Embassy of India in the UAE. More than 150 companies based in the United Arab Emirates and the MENA region from sectors including minerals and metals processing, petrochemicals, chemicals, plastics, heavy industries, clean energy, food processing, including including seafood processing, electrical and electronic equipment manufacturing participated. , logistics and warehousing, real estate and hospitality. Major industry associations in the region, including the Indian Business & Professional Council (IBPC), also participated in the event.
During the Investor Meeting, a presentation on “Odisha’s Industrial Ecosystem” was made, highlighting the huge investment opportunities in Odisha.
The Honorable Chief Minister addressed the assembly and mentioned-
- Odisha’s mineral advantage: Odisha holds the lion’s share of India’s mineral reserves with 96% of the country’s reserves of chromite, 92% nickel, 53% bauxite, 45% manganese, 35% iron and 23% of India’s coal reserves. This has made Odisha the largest producer of steel, stainless steel, ferrous alloys, alumina and aluminum in India. Odisha also has 11% of India’s water resources. The state has a 480 km long coastline, which makes it a natural choice for the establishment of ports and for international trade.
- Odisha’s Human Resource Advantage: The state is home to a large and highly skilled workforce. We have made good investments in the establishment of technical and professional institutes at all skill levels – ITIs, polytechnics and engineering and management schools. 11 of India’s top 100 industrial training institutes are in Odisha. With the help of the Asian Development Bank (ADB) and the Institute of Technical Education Services (ITEES) in Singapore, the government of Odisha recently established the World Skill Center in Bhubaneswar to prepare the workforce from Odia to modern and new industry.
- Odisha’s use of enabling technology to provide efficient and effective investment facilitation: GO SWIFT, the state’s one-stop-shop portal for investors, has transformed the B2G interface with its user-friendly features that provide limited permissions in the time for more than 50 G2B services. Odisha is also home to over 1200 start-ups, many of which are in the tech field.
- Odisha’s Progressive Advantage in Politics and Governance: Focusing on the 5Ts – Transparency, Technology, Teamwork, Time and Transformation, the state government has taken several proactive steps for the development of industry and infrastructure. This has created an industry-led ecosystem of value addition, sustainable job creation, and revenue growth in the state.
The Honorable Chief Minister also announced that the State will host the third edition of its flagship Global Investors Meet event – “Do in Odisha 2022“from 30 November to 04 December 2022 in the state capital, Bhubaneswar, India. The Make in Odisha event would focus on sectors such as metals and downstream metals, chemicals and petrochemicals, textiles and garments, including technical textiles, food processing, including seafood processing, ESDM, logistics and clean energy, etc. The Chief Minister invited companies from the MENA region to to attend the Do in Odisha 2022Investor Meet and witness the opportunities offered by the state. The event generated huge positive sentiment regarding Odisha’s manufacturing prowess and generated considerable interest within the investment community.
The Odisha team has also conducted 1-1 B2G appointments with major companies in the region. Companies have expressed interest in investing in the state. The investment intentions are worth more than Rs. 21,000 cr and an employment potential of over Rs. 19,000 has been received by the state in sectors such as infrastructure, hospitality, logistics, chemicals, food processing, etc. The Honorable Chief Minister invited them to visit Odisha and also assured all businesses of unparalleled facilitation and support. .
The Odisha team also included a high-level business delegation made up of top companies that have invested in Odisha. The business delegation included Parth Jindal – Managing Director, JSW Cement, Saroj Poddar – Chairman, Paradeep Phosphates Limited, Satish Pai – Managing Director, HINDALCO, DilipOommen – CEO, AM/NS India, Rahul Sharma – CEO, Vedanta Ltd., Subhrakant Panda – Managing Director, IMFA, Sujoy Choudhury – Managing Director, IOCL, Jagadish Naik – Chairman and Managing Director, DN-Homes, Bhabatosh Sahoo, Managing Director, B-One Business House Pvt Ltd., Prashant Mallick – Managing Director, Tata Steel SEZ and Mr. Chanakya Chaudhary – Vice Chairman, Tata Steel Ltd.
The Odisha Investors Meeting was a platform to showcase the wide range of opportunities that Odisha offers to businesses from the UAE and the MENA region. It has generated huge interest among the business community as it is the first time that a state like Odisha which has received significant domestic investments has also reached out to the UAE to attract FDI.