DBT Bureau
Bhubaneswar, 28 June 2024
Odisha is eyeing an investment of Rs 2.5 lakh crore from ‘Utkal Investment Summit’ that the new government led by BJP plans to hold in the coming months.
The newly formed government is also mulling to rename the ‘Make in Odisha’ summit held by the previous government led by Naveen Patnaik to ‘Utkal Investment Summit’.
“The government will focus on startup and an industrial corridor will be developed by 2027,” Industries Minister of Odisha, Sampad Chandra Swain told the reporters post a meeting with the officials here.
In 2023, Odisha topped the list of receiving quantum of investment proposals. According to reports, IEM (industrial entrepreneurial memorandum) filings indicated that Odisha bagged Rs210,837 crore, worth investment intentions. This was more than two-fifths of the total proposals India received during this period. While Gujarat got Rs 62,535 crore, Maharashtra received Rs 59,551 crore, and Madhya Pradesh got Rs22,163 crore of IEMs during this period.
In 2022, the Odisha government arranged ‘Make in Odisha’ in which the state said it had received an investment proposal worth Rs 10.5 lakh crore.
Odisha is a key mining state with huge reserves of iron ore, coal, bauxite, chromite, and other base metals. The state is home to many steel, aluminium, and coal-fired energy producers.
