The Make in Odisha conclave offers a unique opportunity to the investors to test the business worthiness of the state. Chief minister Naveen Patnaik has been focusing on such events as they help showcase the best of Odisha not only in the area of industry but also several other fields. This is good business and its success is also bound to bring political dividends to the government.
Chief Minister Naveen Patnaik inaugurated the Make In Odisha Conclave 3.0 at Janata Maidan in Bhubaneswar on November 30, hoping to attract investments worth over Rs 6 lakh crore to the state. The biennial investment summit brings into sharp focus the progress made by the state on the industrial front and creates new opportunities for investment. The last two editions of the events were huge successes. After the grand success of the event in 2016 and 2018, the state has decided to organize the third edition of the marquee event on a bigger scale to attract investors to the state.
The third edition of the five-day event began with a bang with Odisha projecting itself as a huge success story on the industrial front. The state government showcased its success in attracting investments despite the challenge of recurring natural calamities, especially cyclones.
The flagship business summit showcases state’s ability to rise and progress on the industrial front despite the challenge of natural calamities, especially cyclones like Fani. Even the COVID pandemic failed to affect the enthusiasm of the state government which ensured that the state remains one of the favourite destinations of investors.
The state had received over 120 investment intents valued at Rs 2 lakh crore in its first edition of the MIO in 2016 and later Rs 4 lakh crore in the second edition of the MIO in 2018. Ahead of the business summit, Naveen government approved the Industrial Policy Resolution, 2022. While the industrial policy aims to transform Odisha into an industrial hub of eastern India, the other policies intend to provide incentives like capital investment subsidy, employment cost subsidy and market development initiatives. Similarly, the Export Promotion policy 2022 aims to achieve an export target of Rs 3.5 lakh crore by 2026-27.
Odisha currently has 114 industrial estates offering world-class industrial infrastructure. Odisha is the national leader in the production of chromite, bauxite, manganese ore, graphite and nickel. Eleven IITs from Odisha have secured a place among India’s top 100 it is. Thus, the state not only have the right kind of eco-system for the promotion of industry but also highly skilled and competent workforce.
The Make in Odisha Conclave is a unique opportunity to understand state’s policy and regulatory environment, and the vast existing and emerging business opportunities across sectors.“The MIO-2016 had received 84 proposals with an investment intent of Rs 2 lakh crore in different sectors and the second edition had attracted 202 proposals with an investment intent of Rs 4 lakh crore. This time we are expecting more than the previous two summits put together,” Minister for Industries, MSME and Energy Pratap Keshari Deb said as the third edition of the event got underway.
The state is hopeful of investments in 26 sectors, including seven priority sectors such as metal downstream, chemicals and petrochemicals, textiles and apparel, food processing, pharmaceuticals and healthcare, electronics system design and manufacturing (ESDM), IT/ITeS and renewable energy.
Nine countries participated in the third edition of Make in Odisha. The delegates from Japan, Germany and Norway had promised to partner with Odisha government for the five-day event organised in collaboration with FICCI. More than 120 industry experts deliberated on different emerging topics and around 38 sessions were scheduled during the conclave.
The plenary session with industry honchos and business leaders from across the country was followed by a session on ‘Start-Up Odisha’ in the plenary hall and business leadership talks in the sessional halls. Among the top business honchos, executive chairman of ArcelorMittal LN Mittal, chairman of Aditya Birla Group Kumar Mangalam Birla, chairman of Vedanta Resources Anil Agarwal, chairman of JSW Group Sajjan Jindal, chairman of JSPL Naveen Jindal,Tata Steel MD TV Narendran and Tata Power CEO and MD Praveer Sinha were expected to attend the conclave.
In the run up to the mega event, the state government had organised nine investors’ meets and roadshows in Dubai, Coimbatore, Jamshedpur, Ahmedabad, Lucknow, New Delhi, Mumbai, Bengaluru, and Hyderabad along with an ambassadors’ meet in New Delhi. All this was done with the hope that “Make in Odisha Conclave 2022” (MIO) would bolster innovation and expansion in the state’s start-up ecosystem with an aim to maximize investment and opportunities for start-ups in the state.
The event provided an effective platform to network, impart knowledge, forge partnerships and facilitate growth of start-ups across sectors. Given the conducive business climate in the state and backing from the government, start-ups beyond Odisha can weigh the prospect of setting up their businesses in Odisha. Startup Odisha will play a pivotal role and will be seen as an important step in the overall growth of the start-up ecosystem and economy of the state. The aim is to maximize investment in the state through innovative programs that showcase the start-up prowess of Odisha.
The thematic session of Make in Odisha was to focus on the theme ‘Start-ups’ Paradigm Shift and The Road Ahead’. Some of the best speakers, influencers and leaders were to address the thematic session. They had been picked to inspire and encourage youth of the state to come up with innovative ideas and transform them into successful companies.
The presence of several top industry honchos lent both glamour and credence to the event which would not only attract significant investment to the state but also support start-ups and thereby create multiple job opportunities. The conclave will also help enhance the contribution of various sectors such as Agritech, Food and beverages, healthcare, manufacturing and non-IT start-ups towards the economic growth of the state.
Make in Odisha 2022 is set to be an effective platform for networking, exchange of ideas, imbibing of knowledge and signing of business deals. The state government will also take this opportunity to announce the signing of MOUs with various organizations. It will be a win-win situation for all.
The conclave assumes special significance at a time when the state government is trying to put behind dampeners like the withdrawal of South Korean steel giant POSCO from the state and make a new beginning by diversifying its portfolio and casting its net wide. The success of the conclave would add to the popularity of chief minister Naveen Patnaik and the government he leads.