Odisha seals Rs 24,823 crore investment deals to potentially generate nearly 29,500 jobs
Bhubaneswar, June 26
Odisha Chief Minister Mohan Charan Majhi on Friday interacted with industry leaders and witnessed the signing of Memorandums of Understanding for seven projects worth Rs 24,823 crore, with the potential to generate employment for nearly 29,500 people.
During the interaction, the Chief Minister said that the agreements reaffirm the shared Purvodaya vision for the large-scale industrial development of Odisha and strengthen the state's position as a key growth engine for eastern India.
"As Odisha has become a hub for new entrepreneurs and investors, the industrial sector is gearing up in full-fledged form to become the gateway to Eastern India's industrial growth," the CM said.
Earlier, while addressing the 3rd Eastern Regional Council Meeting of CII in Bhubaneswar, CM Majhi said that the next major chapter of India's growth story is being written in Eastern India, in line with Prime Minister Narendra Modi's vision of Purvodaya.
The Chief Minister said that Eastern India possesses abundant mineral resources, vast agricultural potential, a long coastline and a young workforce. He added that the rapid growth of Eastern India would accelerate India's journey towards Viksit Bharat 2047.
CM Majhi said that Odisha is emerging as one of the fastest-growing states in economic and industrial development. He said the state's Samruddha Odisha 2036 vision has been aligned with the national vision of Viksit Bharat 2047.
The Chief Minister said that under Deregulation 1.0 and 2.0, the time required to establish industries has been reduced from 400 days to less than 160 days, with the government aiming to further reduce it to under 100 days.
The Chief Minister further noted that Odisha has approved 477 projects worth nearly Rs 9.5 lakh crore since June 2024, which are expected to generate around six lakh jobs. He added that 152 projects worth over Rs 3.11 lakh crore have already reached the implementation stage.
Announcing the 'Go East' initiative: Government of Odisha Eastern Investment Accelerator and Special Task Force, CM Majhi said that the policy would attract investments from Eastern and Northeastern India, facilitate industrial growth in border districts and make Odisha the most investor-responsive destination in Eastern India.
— ANI
Reader Comments
Rs 24,823 crore is a massive investment! But I'm curious - what kind of industries are these? Are they going to be environmentally sustainable? Odisha has rich mineral resources, but we've seen the damage mining does. Hope the government ensures proper safeguards and that local communities benefit from the jobs, not just companies.
Great to see Odisha emerging as an industrial hub! The 'Go East' initiative is exactly what eastern India needs. For too long, development was focused on the west and south. With abundant minerals and a young workforce, Odisha can truly become the gateway. PM Modi's Purvodaya vision is taking shape 👍
Honestly, I'm a bit skeptical. We hear big numbers every time, but ground reality is different. My cousin in Bhubaneswar says many projects from last year's MoUs haven't started yet. "Nearly 29,500 jobs" sounds great, but what about quality? We need well-paying, stable jobs, not just temporary contract work. Let the government focus on skill development too.
This is huge for Odisha! Rs 24,823 crore and nearly 30,000 jobs - that's like a mini economic boom. The fact that they've approved 477 projects worth Rs 9.5 lakh crore since last year shows the momentum. As someone from Rourkela, I can tell you the difference industrial development makes. Let's hope border districts also get their share. Jai Odisha! 🚀
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