By Nageshwar Patnaik in Bhubaneswar, December 5, 2022: At a time when there is visible economic slowdown, Odisha has been able to attract in excess of Rs 10 lakh crore more investment intents on the sidelines of the third edition of its flagship business conclave which concluded on Sunday.

A beaming Chief Minister Naveen Patnaik said it’s a win-win situation for the investors and the state. “I am happy to announce that the Make In Odisha Conclave has generated investment intent of Rs 10.50 lakh crore with potential for 10.50 lakh direct and indirect employment.

Odisha was not in the top-10 private investment destinations in the year 2017 and 2018. Odisha, however, has emerged as one of India’s top investment destination, attracting investments to the tune of Rs 36,828 crore in the first seven months of 2022, according to the Department for Promotion of Industries and Internal Trade (DPIIT) report (July 2022).

India’s actual industrial investment between January and July stood at Rs 1,71,285 crore. Of the total, AP topped the list with Rs 40,361 crore investments, followed by Odisha.

Andhra Pradesh and Odisha accounted for 45 per cent of the entire investment inflow in the country.

With Odisha successfully generating investment intent of over Rs ten lakh crore in the Make in Odisha Conclave, the state could emerge as the number one state this year.

The third edition of the conclave generated around five times more investment intent than the first one in 2016. “In the second edition, the state had received Rs 4.23 lakh crore investment intent,” an official of the Industries Department said.

The investment proposals have been received in 21 different sectors.

“It’s heartening to see the huge response we have got, especially in the post- Covid scenario,” Patnaik said.

The chief minister urged all stakeholders to work hard to implement the investments on the ground, and take Odisha to a new era of growth.

Patnaik assured investors that the state will walk the extra mile for them. “We will walk the talk. It will be a win-win situation,” he said.

He also expressed gratitude to the summit’s partner countries – Japan, Norway, and Germany. “I hope that we further strengthen our ties and create more opportunities for mutual trade, commerce, and people-to-people relationships.”