Odisha's Mega Investment Boom: Unveiling the Future

The Odisha government signed 54 MoUs, securing investment commitments of Rs 4.50 lakh crore at the 'Utkarsh Odisha-Make in Odisha Conclave.' Major investors include the Adani Group, Vedanta, and JSW. The state anticipates significant growth in sectors like IT, semiconductors, and renewable energy, aiming at economic expansion.

The Odisha government has announced a landmark achievement, signing 54 memorandums of understanding (MoUs) with leading companies, securing an investment promise of Rs 4.50 lakh crore. This announcement marked the inaugural day of the 'Utkarsh Odisha-Make in Odisha Conclave,' setting the pace for transformative economic growth in the state.

Prominent commitments came from industry giants, with the Adani Group pledging the largest investment of Rs 2.28 lakh crore, followed by Vedanta's Rs 1 lakh crore promise. The JSW Group will invest Rs 35,000 crore to establish a new steel plant in Keonjhar district. Renewable energy is also seeing growth, with the Avaada Group's Rs 20,700 crore investment in green projects.

Odisha received over Rs 20,900 crore in investment intents spanning IT/ITeS, electronics, semiconductors, and related sectors. Guided by a vision to become a USD 500 billion economy by 2036, state authorities are unveiling strategies including Tech Business Parks and IT clusters to drive balanced regional growth.

(With inputs from agencies.)