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Securing $50 Bn Investment In 2 Yrs, Odisha Govt Attracts FDI From UAE

Dubai:29/6/22: Riding on the last 2 years of a high level of investments approved by the Government of Odisha, amounting to over USD 50 billion since 2021, the Government of Odisha in India is attracting Foreign Direct Investment (FDI) in sectors such as Metals and Metal downstream, Chemicals and Petrochemicals, Textiles and Apparel including Technical Textiles, Food processing including Seafood processing, ESDM, Logistics, and Clean Energy. In this regard, the Odisha Investors Meet was held in Dubai today.

The meeting was held under the leadership of Naveen Patnaik, Chief Minister of Odisha, along with a delegation of senior officials from the Government of Odisha.

The Investors’ Meet was jointly organized with FICCI and the Embassy of India in UAE. It was attended by more than 150 companies based out of the UAE and the MENA region from sectors comprising Minerals and Metals Processing, Petrochemicals, Chemicals, Plastics, Heavy Industries, Clean Energy, Food Processing including Sea Food Processing, Electrical Equipment & Electronics Manufacturing, Logistics & Warehousing, Real Estate, and Hospitality. Leading industry associations from the region including Indian Business & Professional Council (IBPC) also participated in the event.

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During the Investors Meet, a presentation on the “Odisha Industrial Ecosystem” was made highlighting the huge investment opportunities in Odisha.

The Hon’ble Chief Minister addressed the gathering and mentioned-

  • Odisha’s Mineral advantage: Odisha holds the lion’s share of India’s mineral reserves with 96% of the country’s chromite reserves, 92% nickel, 53% bauxite, 45% manganese, 35% iron-one, and 23% coal reserves India. This has made Odisha the largest producer of Steel, Stainless Steel, Ferro Alloys, Alumina, and Aluminium in India. Odisha also has 11% of India’s water resources. The state has a 480-km long coastline making it a natural choice for setting up ports, and for international trade.
  • Odisha’s human resource advantage: The State is home to a large and highly skilled workforce. We have made good investments in setting up technical and professional institutes at all skill levels – ITIs, Polytechnics, and engineering & management colleges. 11 of India’s top 100 Industrial training institutes are in Odisha. With the assistance of the Asian Development Bank (ADB) and the Institute of Technical Education Services (ITEES), Singapore, the Government of Odisha has recently established the World Skill Centre in Bhubaneswar to prepare the Odia workforce for modern & new age Industry.
  • Odisha’s use of enabling technology in delivering efficient and effective investment facilitation: The State’s Single Window portal for investors, GO SWIFT has transformed the B2G interface with its user-friendly features which provide time-bound clearances for over 50 G2B services. Odisha is also home to over 1200 start-ups, many of which are in the technology space.
  • Odisha’s progressive policy and governance advantage: Focusing on 5Ts – Transparency, Technology, Teamwork, Time, and Transformation, the state government has taken up several proactive measures for the development of industries and infrastructure. This has created an industry-led ecosystem of value addition, sustainable employment generation, and revenue augmentation in the State.
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The Hon’ble Chief Minister also announced that the State would be conducting the third edition of its flagship Global Investors Meet – “Make In Odisha 2022” from Nov 30- Dec 04, 2022, at the state capital Bhubaneswar, India. The Make in Odisha event would focus on sectors including Metals and Metal downstream, Chemicals and Petrochemicals, Textiles and Apparel including Technical Textiles, Food processing including Seafood processing, ESDM, Logistics, Clean Energy, etc. The Chief Minister extended the invitation to businesses in the MENA region to attend the Make In Odisha 2022 Investor Meet and witness the opportunities the State offers. The event saw huge positive sentiment about Odisha’s manufacturing prowess and garnered significant interest among the investor community.

The team Odisha also conducted 1-1 B2G meetings with major companies of the region. The companies expressed their interest to invest in the state. Investment intents worth more than Rs. 21,000 cr and an employment potential of more than 19,000 was received by the state across sectors such as infrastructure, hospitality, logistics, chemicals, food processing, etc. Hon’ble Chief Minister invited them to visit Odisha and has also assured all the companies of unmatched facilitation and support.

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The team Odisha also included a high-level business delegation from the top companies who have invested in Odisha. The business delegation included Parth Jindal – Managing Director, JSW Cement, Saroj Poddar – Chairman, Paradeep Phosphates Limited, Satish Pai – Managing Director, HINDALCO, Dilip Oommen – CEO, AM/NS India, Rahul Sharma – CEO, Vedanta Ltd., Subhrakant Panda – Managing Director, IMFA, Sujoy Choudhury- Director, IOCL, Jagadish Naik – Chairman, and Managing Director, DN-Homes, Bhabatosh Sahoo, Managing Director, B-One Business House Pvt Ltd., Prashant Mallick -Managing Director, Tata Steel SEZ and Mr. Chanakya Chaudhary – Vice President, Tata Steel Ltd.

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The Odisha Investors’ Meet was a platform for presenting the vast array of opportunities Odisha offers to businesses in the UAE and the MENA region. It has generated a huge interest among the business community as it is the first time that a state like Odisha which has received significant domestic investments has also reached out to UAE to attract FDI.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

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