Odisha Secures INR 53,893 Crore Investment Proposals at India Chem 2026, Targets Over 20,000 Jobs

Odisha Secures INR 53,893 Crore Investment Proposals at India Chem 2026, Targets Over 20,000 Jobs

Bhubaneswar, Oct 24: Odisha has attracted investment proposals worth ₹53,893.51 crore, with the potential to create 20,210 jobs, at India Chem 2026 in Mumbai, strengthening the state’s push to expand its chemical and petrochemical industries.

 Pic Credit: x.com/PTI_News

Chief Minister Mohan Charan Majhi returned to Bhubaneswar on Friday after attending the two-day event held on October 22 and 23. During the conclave, the state signed nine Memorandums of Understanding (MoUs) and secured four investment intents, while the Chief Minister held 25 one-to-one meetings with business leaders and prospective investors.

The discussions involved representatives of major companies, including POSCO India, JSW and Larsen & Toubro (L&T), along with business representatives from the United States and Europe.

NLC India Deal Accounts for Major Investment

One of the key outcomes of the event was an MoU with NLC India Ltd worth ₹36,763.51 crore in the chemicals and energy sectors.

The proposed investment represents a significant part of the total investment proposals announced at the conclave. The projects are expected to support industrial expansion and create employment opportunities, subject to their implementation.

Majhi said the meetings provided an opportunity for potential investors to understand Odisha’s industrial infrastructure and available facilities. They also helped the state gain a clearer understanding of investors’ requirements and expectations.

The Chief Minister thanked Union Minister for Chemicals and Fertilisers J.P. Nadda for supporting efforts to facilitate discussions with companies.

Odisha Chem 2027 to Be Hosted in October

In another major announcement, Majhi said Odisha Chem 2027 would be held in October next year, following approval from the Centre and the Federation of Indian Chambers of Commerce and Industry (FICCI) for the state’s proposal to host the event.

The proposed event is expected to provide another platform for Odisha to showcase its industrial potential, attract investors and strengthen partnerships across the chemical and petrochemical sectors.

The state government is seeking to broaden Odisha’s industrial base beyond its traditional strength in metals and mining by developing a more diversified, value-added manufacturing ecosystem.

Push to Build an Integrated Industrial Ecosystem

Odisha’s long-term industrial strategy aims to connect its established metals sector with downstream manufacturing, chemicals, petrochemicals and plastics.

The government believes that developing these interconnected industries could encourage greater value addition within the state, attract new investment and expand employment opportunities.

The shift towards a chemical-based industrial economy is also intended to strengthen Odisha’s contribution to the national vision of Atmanirbhar Bharat, or a self-reliant India.

Hosting Odisha Chem 2027 is expected to support this strategy by bringing industry stakeholders and prospective investors together to explore opportunities in the state.

Chief Minister Welcomed Back in Bhubaneswar

Majhi was welcomed at Bhubaneswar airport after returning from Mumbai. Those present included Fisheries and Animal Resources Development Minister Gokulananda Mallik, Cooperation, Handlooms and Textiles Minister Pradeep Bal Samanta, Chief Whip Saroj Pradhan and several MLAs.

The investment proposals announced at India Chem 2026 mark a significant opportunity for Odisha to attract fresh capital and expand its industrial footprint. The ultimate impact on employment and economic growth, however, will depend on how the proposed investments progress towards implementation.