UTKARSH ODISHA is scheduled to take place on January 28-29, 2025
Bhaskar Parichha
Chief Minister Mohan Charan Majhi has introduced the logo for the forthcoming ‘UTKARSH ODISHA – Make in Odisha Conclave 2025’ and emphasized his administration’s commitment to enhancing infrastructure and fostering a business-friendly atmosphere. The Utkarsh Odisha summit, previously referred to as Make in Odisha, is scheduled to take place on January 28-29. This event marks the fourth iteration of the state’s premier global investors’ summit and the inaugural one under the Bharatiya Janata Party (BJP) administration.
In his inaugural budget unveiled in July, Majhi, who serves as the state finance minister, outlined his administration’s strategy to secure domestic investments amounting to Rs. 2.5 trillion and foreign direct investments (FDI) exceeding $2 billion by the year 2029, by the BJP’s electoral manifesto.
A recent announcement indicates that the state Cabinet has sanctioned investment proposals totaling Rs. 44,682 crore, accomplishing 90 percent of the annual objective. These investments are anticipated to create 36,462 employment opportunities.
Collaborative Partnership
The chief minister stated that this conclave will transcend being merely an event and act as a catalyst for action, transforming discussions into collaborative partnerships and tangible progress.
The government intends to establish micro, small and medium enterprise parks in every district, create a Foreign Direct Investment (FDI) Park, develop multimodal logistics parks and construct new industrial corridors. According to CM Majhi, these initiatives are acknowledged as essential measures in achieving Odisha’s overarching objective of emerging as a frontrunner in India’s industrial sector.
During the most recent biennial conclave held in November-December 2022, the former government led by Naveen Patnaik secured investment proposals totaling Rs. 10.5 trillion, which could create more than 1 million jobs across various sectors from 741 companies. At a recent event celebrating the first 100 days of his administration, Majhi reiterated the party’s pledge to develop Odisha into a prosperous state by 2036, aligning with the Central Government’s Viksit Bharat initiative aimed for 2047.
Semiconductor Hub
In a meeting of NITI Aayog held in July, the chief minister requested assistance from the Centre to position Odisha as a semiconductor hub, highlighting the state’s abundance of technology professionals, its vibrant startup ecosystem and its semiconductor policy.
Earlier this month, he inaugurated the foundation stone for India’s inaugural silicon carbide manufacturing facility located near Bhubaneswar, a venture by RIR Power Electronics that specializes in semiconductor power electronics technology.
The Odisha Economic Survey report for the fiscal year 2023-24, presented in the Assembly in July, indicates that the state’s economy is projected to expand by 8.5 percent in 2023-24, an increase from 7.9 percent in 2022-23, thereby exceeding the national growth rate of 7 percent. The report further estimates that the total size of Odisha’s economy will reach Rs 8.3 trillion, approximately $100.6 billion, in 2023-24, primarily fueled by the mining sector and robust manufacturing activities.
(The author is a senior journalist and columnist. Views expressed are personal.)
