The Odisha government has signed 145 MoUs with various companies, which have proposed to invest ₹12.89 lakh crore, generating employment for 8.94 lakh people.
This was stated by Chief Minister Mohan Charan Majhi as the two-day business summit, Utkarsh Odisha, Make in Odisha Conclave 2025, concluded on Wednesday.
He said the investment proposals have come from various sectors, including chemicals, petrochemicals, textiles, mining and metallurgy, renewable energy, IT, tourism, and food processing.
The chief minister stated that the MoUs, once implemented, would create more than 8.94 lakh employment opportunities in the state. “This will bring about a major change in the socio-economic condition of the state and lead to the inclusive growth of Odisha,” he said.
Majhi added that, apart from the MoUs, the state government has also received 448 investment intents in proposal form, worth ₹3.84 lakh crore, which is expected to generate an additional 3.92 lakh jobs.
Representatives from 16 countries, including delegates from partner nations such as Singapore, Malaysia, and Australia, attended the conclave, the chief minister said.
The Adani Group has committed the highest investment of ₹2.28 lakh crore, while the Vedanta Group will invest around ₹1 lakh crore. The Sajjan Jindal-led JSW Group will invest ₹35,000 crore to set up a steel plant in Keonjhar district.
The Naveen Jindal-owned Jindal Steel & Power also announced plans to invest an additional ₹70,000 crore in its Angul plant, though this was not formalised as an MoU on Tuesday.
The Avaada Group, a renewable energy company, signed an MoU with the state government to invest ₹20,700 crore in green energy projects, including floating solar and pumped storage.
Odisha received total investment intents worth ₹20,900 crore in IT/ITeS, electronics, semiconductors, data centres, and ancillary sectors. These investments are expected to significantly boost economic growth and ensure balanced regional development, officials said.
Kaynes Technology plans to invest ₹1,500 crore in the state’s PCB and bare board manufacturing sector.
During the event, Chief Minister Mohan Charan Majhi also inaugurated the virtual foundation-laying ceremony of SiCSem Private Ltd’s upcoming semiconductor project in the state.
The company is establishing a 15-acre silicon carbide semiconductor power devices manufacturing and ATMP facility at Infovalley, Bhubaneswar.
State IT Minister Mukesh Mahaling stated that Odisha aims to become a USD 500 billion economy by 2036 and a USD 1.5 trillion economy by 2047.
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