Odisha Secures ₹1.03 Lakh Crore in Investment Offers During New Delhi Visit

New Delhi: In a major push towards industrial growth and economic transformation, Odisha Chief Minister Shri Mohan Charan Majhi, during his strategic visit to New Delhi, oversaw the signing of 13 Memorandums of Understanding (MoUs) worth ₹98,880 crore, with potential to generate 67,000 jobs across multiple sectors. An additional 15 investment intents were also received, taking the total investment interest to ₹1,03,090 crore, promising employment for over 95,000 people.

The Chief Minister, who attended the Investors’ Meet at Taj Palace and held multiple one-on-one meetings with top industry leaders since yesterday, described the developments as a “turning point in Odisha’s industrial journey.”

Landmark MoU with IOCL for Paradip Petrochemical Hub

The most notable highlight was the signing of a landmark MoU with Indian Oil Corporation Ltd (IOCL) for the establishment of a Dual-Feed Naphtha Cracker Project at Paradip, with an estimated investment of ₹58,042 crore and potential to create 24,000 jobs.
“This is not just an MoU—it is a shared vision to make Odisha a powerhouse in India’s petrochemical revolution,” said CM Majhi, calling Paradip the future “Dahej of the East.”

Additional strategic agreements were also signed with Indian Strategic Petroleum Reserves Ltd (ISPRL) and Petronet LNG, underlining Odisha’s pivotal role in building a resilient petrochemical and energy infrastructure in eastern India.

Diverse Industry Engagements Across Sectors

The Chief Minister’s engagement in New Delhi also included one-on-one discussions with several top industry leaders at Taj Palace Hotel. Among them were representatives from Kiri Industries, who plan to establish a specialty chemical production unit; Himadri Specialty Chemical Ltd., intending to revamp a tyre manufacturing facility in Balasore; SLMG Beverages Pvt. Ltd., aiming to expand bottling operations in the state; Chowgule Group, exploring a shipbuilding and repair unit; Inox GFL Group, interested in investments in the chemical sector; and Bombay Dyeing Manufacturing Co. Ltd., discussing prospects in home furnishings and textiles. These interactions highlighted robust investor interest in establishing new manufacturing units, enhancing local economic development and job creation.

Discussions were also held with the Association of Indian Manufacturers of Medical Devices (AIMED), Toy Association of India, and the United States India Business Council (USIBC), indicating growing interest in sectors such as medical devices, toys, and apparel.

Odisha’s Vision for Inclusive Industrial Growth

In his keynote address, CM Majhi emphasized Odisha’s preparedness and ambition to emerge as a national leader in manufacturing, petrochemicals, and industrial innovation.
“Yahi Samay Hai, Sahi Samay Hai,” he said, urging investors to seize the moment and partner with Odisha.

He reaffirmed the state’s commitment to improving infrastructure, simplifying regulations, and investing in skill development to create an investor-friendly ecosystem. He also extended an invitation to global investors to participate in Odisha’s development story.

Multi-Tier Participation and Central Support

The Investors’ Meet witnessed high-level participation from both the central and state leadership:

• Union Ministers: Dharmendra Pradhan (Education), Hardeep Singh Puri (Petroleum and Natural Gas), and Jual Oram (Tribal Affairs), who applauded Odisha’s forward-thinking industrial policy.
• Odisha Leadership: Sampad Chandra Swain (Industries & Skill Development), Chief Secretary Manoj Ahuja, and Additional Chief Secretary (Industries & MSME) Hemant Sharma, who presented Odisha’s industrial roadmap and growth potential.

A short film on Odisha’s thriving chemical sector and a series of presentations showcased the state’s readiness to welcome large-scale investments.

Broad Impacts Expected

The investments and engagements are expected to have wide-ranging impacts:

1. Employment Generation: Over 95,000 jobs to be created across various sectors
2. Economic Diversification: Reducing reliance on traditional sectors and tapping new growth engines
3. Infrastructure Boost: Accelerated development of ports, roads, utilities, and industrial clusters
4. Skill Development: Industry-linked training initiatives to build a future-ready workforce
5. Export Growth: Expansion in sectors like chemicals, textiles, and food processing to fuel exports

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A Defining Moment for Odisha

This visit to New Delhi signals a new era of industrialization for Odisha, showcasing its evolution into a preferred investment destination in Eastern India. With visionary leadership, policy stability, and sectoral readiness, Odisha is poised to shape India’s next wave of industrial growth.

“Under the dynamic leadership of Chief Minister Mohan Charan Majhi, Odisha has sent a clear message—it is ready to lead,” said an industry participant.

As the MoUs move toward implementation and investor confidence continues to grow, Odisha stands on the threshold of a transformative industrial leap, reaffirming its mission to become a leading hub for investment, innovation, and inclusive economic progress.