The Make in Odisha Conclave 2022 (3rd edition), a biennial global investors’ meet and the flagship investor summit of the Government of Odisha, took place in Bhubaneswar, Odisha, from November 30 to December 4, 2022.
- The Government of Odisha organized the Make in Odisha (MIO) Conclave 2022 in collaboration with the Federation of Indian Chambers of Commerce and Industry (FICCI).
- The ‘Industrial Policy Resolution 2022’, which aims to make Odisha the preferred location for industrial firms both domestically and globally, was introduced at the MIO Conclave 2022.
The first edition, held in 2016, generated Rs. 2.03 trillion in investment intentions, while the second edition, held in 2018, generated more than Rs. 4 trillion.
Make In Odisha Conclave 2022 generates investment intents of Rs 10.5 lakh crore with potential for over 10 lakh jobs
Odisha received an overall investment proposal worth Rs. 10.5 lakh crore during the MIO Conclave 2022, with the potential to employ 10,37,701 people.
- The investment has the potential to create jobs in 741 different companies.
Registration for the MIO Conclave 2022 had 18785 delegates from 11 countries: Japan, Germany, Norway, Nepal, Bangladesh, Australia, Indonesia, Israel, China, Singapore, and Thailand.
Breakup of Investment Received Sector Wise:
i.The largest part of the total investment received—Rs. 5.50 trillion—went to the metals, ancillary, and downstream sectors.
ii.Besides that, Rs. 2.38 trillion for power, renewable energy, and green energy; Rs. 1.2 trillion went to logistics and infrastructure; Rs. 76,000 crore went to chemicals, petrochemicals, and plastics.
iii.Other sectors that received investment included cement, manufacturing, information technology (IT), agriculture, and food processing.
Adani, Vedanta and JSW Lead Make in Odisha Investment Race, 21 MoUs Signed
At the MIO Conclave 2022, Odisha Chief Minister (CM) Naveen Patnaik made a pitch for Odisha as a story and a land of opportunity in front of 54 corporate leaders, including the heads of Adani Group, ArcelorMittal, JSW Steel, and Vedanta Group.
- On the first day of the MIO Conclave 2022, 21 Memorandums of Understanding (MoUs) and 46 investment intent forms (IIF) worth Rs. 585,742.26 crore were exchanged.
Two MoUs were also inked with the BSE Ltd (formerly Bombay Stock Exchange) and NSE India (National Stock Exchange of India Ltd), as well as the Odisha government, to help the Micro, Small and Medium Enterprises (MSMEs) of the state to get listed on the MSME exchange of BSE.
Key Points:
i.The CEO of Adani Ports and Special Economic Zone, Karan Adani, pledged to invest over Rs. 60,000 crore in the next 10 years.
- The project will build thousands of jobs in Odisha and include 35 berths, a 5 MT liquefied natural gas (LNG) terminal, an alumina refinery, and an iron ore facility at Dhamra Port in Odisha.
ii.Lakshmi Niwas Mittal-owned ArcelorMittal will establish a 24 million-ton plant in Odisha in a joint venture with Nippon Steel.
iii.Tata Steel, which has invested more than Rs. 75,000 crore in Odisha, plans to continue investing in the state, which has 25% of India’s total steelmaking capacity.
iv.Anil Agarwal, Chairman and Founder of Vedanta Resources, and Odisha CM Naveen Patnaik laid the foundation for Vedanta Aluminium Park, which is promoted as India’s largest metal park.
v.JSW Group Chairman Sajjan Jindal revealed that the company will invest further Rs. 1 lakh crore in Odisha to construct a steel plant in Paradip and a silicon metal plant to manufacture solar panels.
vi.Essar Capital will invest roughly Rs. 52,000 crore in Odisha to build a number of projects, including a 7.5 MT crude-to-petrochemical unit and a 14 MT pellet plant.
Odisha signs MoU with BSE, NSE to promote local MSMEs to access capital Markets
Odisha has signed MoUs with the BSE Ltd. (formerly Bombay Stock Exchange) and the NSE Ltd. (National Stock Exchange) to assist the listing of MSMEs.
- In accordance with the MoUs, BSE and NSE would support MSMEs by giving them the training and education needed for listing and enhancing their financial credibility.
The session focused on two sub-themes, one on infrastructure and the other on financing MSME.
- A few initiatives were introduced during the session, including the launch of electronic bank guarantees in collaboration with National EGovernance Services Ltd. (NESL), India’s first Information Utility under Insolvency & Bankruptcy Code.SJVN, Grid Corporation of Odisha to Form JV for Hydro, Solar Projects
SJVN Green Energy, an arm of state-owned enterprise SJVN Ltd, launched a joint venture (JV) with the Grid Corporation of Odisha (GRIDCO) to create a 1,000 MW hydroelectric project and a 2,000 MW solar project worth Rs 20,000 crore.
- SJVN’s current total portfolio is around 42,000 MW, with around 97 % based on non-fossil fuel sources with presence in India and abroad.
Biotechnology Sector received investments totaling Rs.1250 crore during MIO Conclave’2022
During the MIO Conclave 2022, the biotechnology sector secured investments worth Rs 1,250 crore, providing employment opportunities for almost 8,000 people.
i.The Association of Biotechnology Led Enterprise (ABLE) and the Science and Technology department signed a MoU at the MIO Conclave 2022.
- It was signed with the objective of bringing global knowledge groups to Odisha for investment purposes, bringing biotech industries to Odisha to mentor and foster biotech startups, and creating a favourable biotech policy for Odisha.
ii.The Global Network of Entrepreneurs and Professionals for Odisha (GNEPO), an international organisation, has signed a MOU to boost global-Odisha entrepreneurial exchanges.
Objective: to provide a global platform for the growth of bio-entrepreneurship in Odisha, as well as to identify and present a mix of 10 potential contacts each year.
Sram-Mram Group announces Rs 2-L cr investment for a semiconductor unit in Odisha
At the MIO Conclave 2022, Gurujee Kumaran Swami, Vice Chairman of the SRAM and MRAM Group based in the United Kingdom (UK), declared that the company will invest Rs. 2 lakh crore in Odisha to establish a semiconductor manufacturing facility. The group will invest Rs 30,000 crore in the first phase.
- Sailesh Lachu Hiranandani established the UK-based Sram & Mram Group in 1995.
- It has branch offices in Bahrain, Georgia, India, Bangladesh, South Africa, Indonesia, and Malaysia.
Odisha to transform Women SHGs into SMEs, micro industries parks to set up in all 30 districts
At plenary sessions on Building economic independence for women, Odisha CM Naveen Patnaik declared that the Odisha government would soon transform Women’s Self-Help Groups (SHGs) into small and medium enterprises (SMEs).
- Odisha boasts six lakh women-led SHGs, and the state government’s goal is to convert these SHGs into SMEs.
The Odisha Cabinet decided to acquire goods and services worth Rs. 5000 crores from SHGs over a five-year period, with around 1 lakh SHGs benefiting from this.
- A revolving fund of Rs. 1 crore will be given to each district federation and a revolving fund of Rs. 50 lakhs will be given to each block level federation in order to boost the Mission Shakti Federations further and transform them into vibrant financial hubs.
- Mission Shakti was launched in 2001.
IPICOL & FICCI sign MoU for the upcoming Make in Odisha Conclave 2022
The Federation of Indian Chambers of Commerce & Industry (FICCI) and the Industrial Promotion and Investment Corporation of Odisha (IPICOL) signed a MoU making FICCI the National Industry Partner for the MIO Conclave 2022.
Natural Resources in Odisha:
- Odisha is home to 96% of the chromite reserves in India, 92% of the nickel reserves, 53% of the bauxite reserves, 45% of the manganese reserves, 35% of the iron reserves, and 23% of the coal reserves.
- As a result, Odisha is now India’s largest producer of steel, stainless steel, ferroalloys, alumina, and aluminium.
Odisha approves seven policies to attract investment
At its 52nd meeting, the Odisha Cabinet approved 17 proposals, including 7 policies, to attract investment and strengthen the state’s economy in preparation of the MIO Conclave 2022.
The following policies have been approved:
- Registered Vehicle Scrapping Facility Policy-2022
- Industrial Policy Resolution (IPR) 2022
- Odisha Logistics Policy 2022
- Odisha Apparel and Technical Textiles Policy-2022
- Export Promotion Policy 2022
- Odisha Civil Aviation Policy 2022
- Odisha Tourism Policy 2022
About Odisha:
Chief Minister (CM) – Naveen Patnaik
Governor – Ganeshi Lal
Wildlife Sanctuary – Bhitarkanika sanctuary
Tiger Reserve – Rourkela Airport; Gopalpur port