Utkarsh Odisha-Make in Odisha Conclave 2025 Shatters Records with Rs 16.73 lakh crore in Investment Proposals

Bhubaneswar: The Utkarsh Odisha-Make in Odisha Conclave 2025, held in Bhubaneswar, has set an unprecedented benchmark by securing a staggering Rs 16.73 lakh crore in investment intents—far surpassing its initial target of Rs 5 lakh crore. With 595 proposals spanning across 20 sectors, the conclave has proved to be a resounding success.

Speaking to the media about the outcome of the landmark event, Chief Minister Mohan Charan Majhi expressed immense pride in the overwhelming participation and the massive investment interests shown by global and domestic investors. He highlighted that 145 investment-related memoranda of understanding (MoUs) were signed during the summit.

“The Utkarsh Odisha-Make in Odisha Conclave 2025 has exceeded expectations in every way. We saw unprecedented investor participation, and the volume of investment proposals has been remarkable. Prominent business magnates from across the globe have not only committed to setting up new projects but also expanding their existing operations. The proposed investments cover diverse sectors such as chemicals and petrochemicals, textiles, mining and metallurgy, renewable energy, IT/ITeS, tourism, and food processing.”

The Chief Minister added that once the investment proposals come to fruition, they are expected to generate over 12.88 lakh employment opportunities, further boosting Odisha’s economy and industrial landscape.

The Rs 16.73 lakh crore in investment commitments made at the 2025 conclave sets a new record, surpassing the total investment proposals garnered in the previous three editions of the summit. In past conclaves, the Odisha government, under the leadership of former Chief Minister Naveen Patnaik, secured investment proposals of Rs 2.03 lakh crore in 2016, Rs 4.19 lakh crore in 2018, and Rs 10.5 lakh crore in 2022.

This year’s conclave also saw international partners such as Singapore, Malaysia, and Australia joining hands with the Odisha government to explore collaborative growth opportunities. Prime Minister Narendra Modi inaugurated the summit on Tuesday, offering a strong assurance to investors that they would see lucrative returns on their investments in Odisha.

A key highlight of the event was the announcement from the Adani Group, which pledged an impressive Rs 2.3 lakh crore in investments over the next five years. These funds will be directed across several sectors, including power, cement, industrial parks, aluminum, city gas, and port expansion. Karan Adani, the group's representative, noted, “This commitment marks the largest investment proposal to emerge from the Utkarsh Odisha 2025 event, showcasing our confidence in the state’s potential.”

The summit also saw Vedanta Limited making a bold move by signing an MoU to invest Rs 1 lakh crore in Odisha. The company’s investment will focus on a 6 MTPA alumina refinery, a 3-MTPA green aluminum plant, and the development of an aluminum park in Rayagada district.

The JSW Group, led by Sajjan Jindal, also made a significant commitment by signing an MoU to establish a 5 MTPA steel plant in Keonjhar, CM Majhi’s home district, with an investment of Rs 35,000 crore. Jindal hinted at the possibility of collaborating with POSCO, another major player interested in establishing a steel plant in Odisha, which could lead to significant synergies between the two companies.

As Odisha continues to establish itself as a global industrial hub, the Utkarsh Odisha Conclave has attracted a growing number of both domestic and international investors across a wide range of industries. CM Mohan Charan Majhi praised the event, calling it a testament to the state’s determination to emerge as a major industrial powerhouse on the world stage.

In another exciting development, Naveen Jindal, Chairman of Jindal Steel and Power (JSP), announced plans to upgrade the company’s existing 6 MTPA steel plant in Angul to an extraordinary 25 MTPA by 2030, with an investment of Rs 70,000 crore. “Next year, we will double our capacity to 12 MTPA, and by 2030, we aim to reach 25.2 MTPA. This will make it the world’s largest and greenest steel plant, positioning us as global leaders in green steel production,” Jindal explained. He also highlighted that JSP has already invested over Rs 1 lakh crore in the state, underscoring its commitment to Odisha’s growth.

With these substantial investments, the Utkarsh Odisha-Make in Odisha Conclave 2025 has reinforced the state's position as a key destination for industrial investment and development in India.