The Utkarsh Odisha Conclave, a three-day business summit held in Bhubaneswar, has catapulted Odisha into the national spotlight as the state secured an unprecedented ₹16.73 lakh crore in investment commitments. This landmark achievement, comprising 145 MoUs and 448 investment intents, signals a tectonic shift in Odisha’s industrial trajectory and positions it as a pivotal player in India’s journey toward becoming a $30 trillion economy by 2047.

Key Highlights of the Utkarsh Odisha Conclave

1. 145 MoUs Worth ₹12.89 Lakh Crore:
   The state inked 145 Memorandums of Understanding (MoUs) with major domestic and international corporations, spanning sectors like chemicals, petrochemicals, mining, cement, textiles, energy, IT, tourism, food processing, and metallurgy. These projects are expected to generate 8.94 lakh direct and indirect jobs, significantly boosting employment opportunities.
2. 448 Investment Intents Worth ₹3.84 Lakh Crore:
   Beyond the MoUs, the conclave attracted 448 expressions of interest, promising an additional 3.92 lakh jobs. Chief Minister Mohan Majhi emphasized the government’s commitment to fast-tracking these proposals, stating, “We are dedicatedly working to achieve a prosperous Odisha by 2036 and contribute to a Viksit Bharat (Developed India) by 2047.”
3. Global Participation:
   Delegates from 16 countries, including Singapore, Malaysia, Australia, Japan, and South Korea, participated in the Utkarsh Odisha Conclave, reflecting Odisha’s growing appeal as an investment hub. The summit also saw Prime Minister Narendra Modi being felicitated by CM Majhi, underscoring the collaborative federal effort to drive economic growth.

Sector-Wise Breakdown of Investments

• Metals & Mining: ₹4.2 lakh crore (steel, aluminum, rare earth minerals).
• Energy & Renewables: ₹3.1 lakh crore (green hydrogen, solar parks, offshore wind).
• Chemicals & Petrochemicals: ₹2.8 lakh crore (downstream plastic parks, specialty chemicals).
• IT & Electronics: ₹1.2 lakh crore (semiconductor manufacturing, AI-driven startups).
• Tourism & Hospitality: ₹2,200 crore (eco-tourism, pilgrimage circuits).
• Agri-Processing: Mega food parks and cold chain infrastructure.

Global Partnerships at the Utkarsh Odisha Conclave

The summit saw participation from 16 countries, including:

• Singapore: Smart city projects and port logistics.
• Japan: Precision manufacturing and EV components.
• Australia: Critical minerals mining and clean energy tech.
• South Korea: Advanced robotics and AI-driven agriculture.

Prime Minister Narendra Modi praised Odisha’s “double-engine growth model” (central-state synergy) and highlighted its potential to drive India’s eastern corridor development.

CM Majhi’s Vision for Odisha

Addressing the media, CM Mohan Majhi hailed the Utkarsh Odisha Conclave as a “transformational moment” for the state. “These investments will not only industrialize Odisha but also uplift rural and urban communities. We are prioritizing transparency and ease of doing business to ensure these projects are grounded swiftly,” he said.

The government plans to establish a dedicated task force to monitor project implementation and address bottlenecks like land acquisition and environmental clearances.

A Step Toward Viksit Bharat

The Utkarsh Odisha Conclave aligns with India’s broader goal of becoming a $30 trillion economy by 2047. By leveraging its rich mineral resources, strategic coastline, and skilled workforce, Odisha is positioning itself as a cornerstone of India’s industrial and technological advancement.

What’s Next?
While the proposals are ambitious, stakeholders will keenly watch the state’s execution strategy. Challenges like land acquisition, environmental clearances, and infrastructure development remain critical. However, with robust policy support and global partnerships, Odisha’s journey from “potential to prosperity” seems firmly on track.

The Utkarsh Summit isn’t just about numbers—it’s a narrative shift for a state once synonymous with poverty and cyclones. With ₹16.73 lakh crore on the table, Odisha has a golden chance to redefine itself as an industrial powerhouse. However, the real test lies in translating promises into projects, ensuring inclusive growth, and safeguarding its ecological heritage.

As global investors watch closely, Odisha’s journey from potential to prosperity could become a case study for emerging economies worldwide.