Make in Odisha 2.0: State eyes Rs 3-trn investments, woos Japanese firms

Bhubaneswar: With the stage set for the second edition of its showpiece investment summit, Make in Odisha, the state is eyeing Rs 3 trillion in investments. The inaugural edition of the conclave had drawn investment intents valued at Rs 2.03 trillion.

"Based on extensive roadshows in the domestic circuit and at foreign destinations, our internal assessment is that this year's conclave may see intentions surpassing the previous edition's mark and may be within the range of Rs 2.5-3 trillion," said an official in the know.

Aside from the metals sector, which is expected to have a dominant share in the projected investments, emerging sectors such as tourism and electronics manufacturing are also likely to be major draws at the event, he added.

Addressing a press conference on Thursday, Sanjeev Chopra, principal secretary, industries (Odisha), said, "We have not set any target. The prime objective of this year's conclave is not only to get investment but to also showcase Odisha, in its entirety, more outside the state and country."

In the run-up to the conclave, the state government had organised road shows in New Delhi, Chennai, Hyderabad, Mumbai, Kolkata and Hyderabad. Similar shows were also held at foreign locations in China, Japan, Italy, South Korea, Saudi Arabia and Germany.

At the inaugural edition of the Make in Odisha conclave in 2016, the state attracted 124 investment intents valued at Rs 2.03 trillion. Sixty-five per cent of these projects are at various stages of approval or implementation, bettering the record of other investor-friendly states. The state government has performed groundbreaking ceremonies for 64 projects, three of which have gone into production.

 

Industrialists from Japan, France, Germany, Russia, Saudi Arabia and UAE are slated to attend the event. Japan is the country partner for the investment summit and State Bank of India (SBI) is the banking partner.

The striking feature of Make in Odisha 2.0 is a Japan-focused seminar. Opportunities in the manufacturing sector in Odisha would be showcased to Japanese companies. Top Japanese firms such as Mitsubishi Heavy Industries, Mitsui, JFE Steel, Marubeni, Nissin Foods and Takahata Precision have confirmed their participation at the biennial conclave. The state government has identified 600 acres on the outskirts of Bhubaneswar where Japanese companies can cluster and set up their operations.

Some 800 corporate leaders will attend Make in Odisha's second edition. Reliance Industries Chairman Mukesh Ambani, Aditya Birla Group Chairman Kumar Mangalam Birla, Tata Sons Chairman N Chandrasekaran and Vedanta Resources Chairman Anil Agarwal have confirmed their participation.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.