In January 2025, Prime Minister (PM) of India, Narendra Modi inaugurated the ‘Utkarsh Odisha – Make in Odisha Conclave 2025’ and the ‘Make in Odisha Exhibition’ in Bhubaneswar, Odisha.
- The two-day event, held from January 28 to 29, 2025, brought together industry leaders, investors, and policymakers from over 16 countries, including partner countries Singapore, Malaysia, and Australia, to explore investment opportunities in Odisha.
Key Attendees:
The event was attended by Union Minister Dharmendra Pradhan, Ministry of Education (MoE), Union Minister Ashwini Vaishnaw, Ministry of Railways (MoR), Hari Babu Kambhampati, Governor of Odisha and Mohan Charan Manjhi, Chief Minister (CM) of Odisha and along with other dignitaries.
Highlights :
A total of 145 Memorandums of Understanding (MoUs) were signed during the conclave, attracting investment commitments worth Rs 16.73 lakh crore across various sectors, including chemicals & petrochemicals, textiles, mining & metallurgy, renewable energy (RE), Information Technology/Information Technology Enabled Services (IT/ITeS), tourism, and food processing.
- Apart from the signed MoUs, the Government of Odisha received 448 investment intention forms, reflecting a proposed investment of Rs 3.84 lakh crore.
Key Agreements:
i.Jupiter International Limited, headquartered in Kolkata, West Bengal (WB), has signed a MoU with the Government of Odisha to establish a photovoltaic(PV) solar cell and module manufacturing facility in Khordha, Odisha, through its subsidiary Jupiter Renewables Private Limited, with an investment of Rs 2,005 crore (Rs 20.05 billion).
- After completion, the facility will be capable of producing 4,200 megawatts (MW) of solar cells and 3,600 MW of solar modules annually.
ii.PTC Industries Limited, formerly known as Precision Tools & Castings, based in Lucknow, Uttar Pradesh (UP) has signed a MoU with the Government of Odisha to establish a titanium sponge manufacturing unit for aerospace applications.
- Titanium sponge, a crucial raw material, is essential for producing titanium alloys, which play a vital role in aerospace, defense, and advanced industrial sectors.
iii.The Adani Group, based in Ahmedabad, Gujarat, has announced a major investment plan of Rs 2.3 lakh crore in Odisha over the next five years, aiming to significantly enhance the state’s industrial landscape.
- Key projects in Odisha include an aluminium refinery in Koraput, a renewable energy unit in Cuttack, cement plants in Malkangiri and Cuttack, and the expansion of Dhamra and Gopalpur ports, strengthening the state’s infrastructure.
iv.JSW (Jindal South-West) Group, based in Mumbai, Maharashtra, has signed a Memorandum of Understanding (MoU) with the Odisha Government to set up a 5-million tonnes per annum (MTPA) steel plant in Keonjhar district of Odisha.
- The project, involving an investment of approximately Rs 35,000 crore, aims to boost the local economy and industrial growth.
v.Vedanta Limited, based in Mumbai (Maharashtra) signed a Rs 1 lakh crore agreement with the Government of Odisha.
- The agreement involves establishing a 3 MTPA aluminium plant and creating an aluminium park, which will serve as a central hub for downstream aluminium product manufacturers, fostering the region’s economic growth.
vi.The Indian Institute of Management (IIM), Sambalpur, Odisha, has signed two MoUs with the World Skill Centre (WSC) based in Bhubaneswar, Odisha to offer skill training to women in various sectors under the ‘Subhadra Yojana’ , aiming to empower them toward self-sufficiency.
- This collaboration, initiated during the ‘Subhadra Ru Mudra’ session at the Utkarsh Odisha-Make in Odisha conclave, is designed to enhance women’s self-reliance and contribute to the rural economy.
vii.During the conclave, Tata Steel has committed Rs 80,000 crore to boost Odisha’s manufacturing, creating jobs and driving innovation for India’s growth.
