Make In Odisha Conclave Generates Investment Proposals Worth Rs 10.5 Trillion With 10 Lakh Job Opportunities

Image Credit: Twitter/ Ansuman Rath, Wikimedia

'Make In Odisha Conclave' Generates Investment Proposals Worth Rs 10.5 Trillion With 10 Lakh Job Opportunities

The third edition of 'Make In Odisha Conclave' ended on Saturday with investment proposals of Rs 10.5 trillion, topping the earlier editions by a long margin. The investment proposals from industry leaders will generate over 10 lakh direct and indirect jobs in the state.

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The government of Odisha, in collaboration with the Federation of Indian Chamber of Commerce and Industry (FICCI), organised the third edition of 'Make In Odisha (MIO Conclave 2022),' an investors' summit that showcased the state as the preferred destination for investment across sectors. It commenced on November 30 with plenary sessions at Janta Maidan, Bhubaneshwar.

According to the state government, the conclave has attracted investment proposals worth ₹10.5 trillion across several sectors, topping the earlier editions by a long margin. In the future, these investments will generate over 10 lakh direct and indirect jobs in the state.

During the first edition of the investors' summit in 2016, the state generated investment intents of ₹2.03 trillion, followed by the second edition in 2018, with ₹4 trillion. At the valedictory session on Day 3 of MIO Conclave 2022, Chief Minister Naveen Patnaik mentioned that this year's investors' summit had been a great success.

He said, "I am happy to announce that the conclave has generated investment intents of Rs 10.5 trillion with an employment potential for 10,37,701 people. Let us all work hard to implement these investments on the ground and take Odisha to a new era of industry-led growth."

He further added, "I thank the entire FICCI team for their support throughout the conclave cycle. I want to give special thanks to our country partners, Japan, Norway, and Germany. The Make in Odisha Conclave'22 concludes today. I thank each one of you for your immense contribution. Let the juggernaut move on."

Several Ground Breaking Deals

As many as 18,785 delegates, including global leaders, exhibitors, industry captains, and participants from 11 countries: Japan, Germany, Norway, Nepal, Bangladesh, Australia, Indonesia, Israel, China, Singapore, and Thailand, attended the conclave in the span of three days. Around 65 Memorandum of Understanding (MoUs) were signed at the end of Day 3 of the MIO 2022.

While sharing the information with The Logical Indian, MIO Conclave 2022 management committee claimed that a total of 10 inauguration and groundbreaking ceremonies were announced during the conclave- Ultratech Cement inaugurated their cement plant at Cuttack, Astral Limited inaugurated their Plastic pipes and fitting factory at Cuttack, Brittania Limited extended their existing factory of biscuits, cakes, and other bakery products at Khurda Food Park, and Infunex Healthcare Private Limited set up a production facility at Ramdaspur, Cuttack, among others.

The event turned out to be a massive show of strength for the Odisha government and investors who showed interest in contributing to the state's economic and social growth. From Sajjan Jindal to Lakshmi Mittal, Karan Adani to Naveen Jindal, all have expressed their willingness to invest in Odisha.

Focus On Key Sectors

During the MIO Conclave 2022, out of the total investment proposals received, the metals, ancillary and downstream sectors fetched ₹ 5.50 lakhs crore (trillion), power, green energy, and renewable energy sector fetched ₹2.38 trillion, and chemicals-petrochemicals and logistics-infrastructure sector attracted ₹76,000 crores and ₹1.20 trillion, respectively.

Other sectors such as IT, agriculture and food processing, aerospace and defense, startup, electric vehicles, and education also fetched attractive investment proposals. Since the start of the investors' summit, over 700 companies worldwide showed their interest to invest in Odisha. The government has also shifted its focus from traditional businesses to IT and startups, as it has the potential to boost employment opportunities.

Also Read: 'Best State For Business': Industry Leaders Praise 'Make In Odisha Conclave,' Stage Set To Boost Investment

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Editor : Ankita Singh
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