Bhubaneswar: In an effort to establish Odisha as a leading industrial hub, the state has attracted investment commitments totaling ₹18.65 lakh crore from 365 companies over the last two years, according to Industries Minister Sampad Chandra Swain. This achievement follows an investment of approximately ₹105 crore in both domestic and international promotional activities.
These figures were revealed in the Odisha Legislative Assembly during a response to questions raised by senior legislator Kalikesh Narayan Singh Deo. The data highlights the successful balance between promotional expenses and the tangible outcomes of various projects.
A total of 198 large enterprises have either entered into formal Memorandums of Understanding (MoUs) or presented investment proposals across various sectors. The anticipated investments are expected to generate over 2.1 million jobs, with around 150 projects already initiated across the state during this timeframe.
Since June 2024, the state government has organized 13 roadshows, targeted sector forums, and investor meetings, with documented expenditure for these outreach initiatives amounting to ₹96.51 crore. Including additional event-related costs, the total expenditure reaches approximately ₹105 crore.
Notably, the flagship Utkarsh Odisha – Make in Odisha Conclave 2025 and three roadshows in New Delhi, Mumbai, and Singapore accounted for the largest portion of the expenses, totaling ₹85 crore, accompanied by a 5 percent administrative fee to the Industrial Promotion and Investment Corporation of Odisha Limited (IPICOL), bringing the total for this segment to around ₹89 crore.
Specific budgets for regional investor engagements included:
- Odisha Investors’ Meet, Ahmedabad: ₹2.44 crore
- Odisha Pharma Summit 2025 (Bhubaneswar): ₹2.26 crore
- Odisha Food Pro 2026 (New Delhi, August): ₹2 crore
- Odisha Investors’ Meet, Hyderabad: ₹1.96 crore
- Odisha Investors’ Meet, Kolkata: ₹1.83 crore
- New Delhi roadshow and IOCL MoU signing: ₹1.53 crore
- Odisha-TEX 2025: ₹1.01 crore
- Enterprise Odisha (Rourkela): ₹3 crore
The final financial details for an official trade delegation to the United Arab Emirates are still being finalized.
Prominent corporate commitments include:
- Adani Group: ₹2,28,000 crore across various sectors, promising 1.55 lakh jobs, currently with partial administrative approval.
- Vedanta Limited: A ₹1,00,000 crore investment in Rayagada, set to begin in 2025, is currently underway.
- Mahanadi Coalfields Limited (MCL): Engagements exceeding ₹80,000 crore, including a ₹41,900 crore project in Sundargarh expected to create 7,000 jobs, which has received partial clearance.
- Neelachal Ispat Nigam Limited (Tata Steel): ₹61,769 crore allocated for minerals and metallurgy in Jajpur, currently in active development.
- NLC India Limited: ₹52,000 crore across various projects in Jharsuguda and Angul.
- Steel Authority of India Limited (SAIL): ₹50,800 crore planned for Sundargarh, projected to generate around 11,500 jobs and currently in early stages.
- JSW Group: ₹40,000 crore from JSW Energy and ₹35,000 crore from JSW Steel.
- National Aluminium Company (NALCO): ₹35,000 crore for operational expansion.
- NTPC Limited: ₹36,130.98 crore investment in power generation.
The assembly’s disclosures highlighted a structured transition framework designed to ensure that proposals do not stagnate at the memorandum stage, utilizing systematic administrative tracking, streamlined statutory approvals, and formal land allocation processes.
Several significant projects have already begun commercial or trial operations, including Numaligarh Refinery Limited’s ₹4,634 crore installation in Jagatsinghpur, Bhushan Power and Steel Limited’s ₹3,500 crore facility in Sambalpur, and Geofast Consumer Products in Bargarh.
Additionally, ongoing works are being executed for major ventures supported by the Indian Oil Corporation Limited, Bharat Coal-Gasification, Hindalco Industries, and Shyam Steel Manufacturing, while remaining proposals are undergoing evaluation through the state’s single-window administrative system.
