By Bizodisha Bureau, Bhubaneswar, August 30, 2024: Chief Minister Mohan Charan Majhi on Friday reiterated the state’s commitment to industrialization, which will create employment opportunities for the youth. Odisha, being an agrarian state with three-fourths of its population dependent on agriculture, must balance industrial growth with the needs of its agricultural sector, Majhi said while inaugurating the Global Trade Show Resurgent Odisha 2024 here.

The Chief Minister asserted that the state government is focusing on both large-scale industries and small and medium enterprises, including agro-based industries. “If industrialization progresses, it will provide ample employment opportunities for our youth, ensuring they no longer have to worry about earning a livelihood,” said Majhi. He reaffirmed the government’s commitment to the Purvodaya development initiative, ensuring that Odisha leads in this endeavour.

The Show was organised by the Utkal Chamber of Commerce and Industry Limited (UCCIL), in collaboration with the Micro, Small, and Medium Enterprises (MSME) Department. Deputy Chief Minister Kanak Vardhan Singh Deo urged industries to focus on adding value within the state, which will further accelerate the industrialization process. He mentioned the government’s initiative to offer land leases at no cost to companies willing to set up industries in Odisha, highlighting the state’s potential to become a leading industrial hub in the country.

Sampad Chandra Swain, minister of state (Independent Charge) for Industries, spoke about the upcoming Utkarsh Odisha Investors’ Summit, where the state aims to secure Rs 2.5 lakh crore in investments by 2029. Additionally, the state is targeting $2 billion in Foreign Direct Investment (FDI). Swain emphasized Odisha’s goal to increase its contribution to the country’s exports to 2.5% and eventually reach the third position by 2047. He also mentioned the government’s focus on attracting investments in green hydrogen, semiconductors, and IT sectors.

Hemant Sharma, Principal Secretary, Department of Industries MSME & Energy, stressed the importance of industrialization that prioritizes job creation, ensuring that the industries established in the state provide ample employment opportunities.

The event also featured remarks from China’s Consul General, Kolkata-based Xu Wei, who highlighted Odisha’s rapid growth and its rich mineral resources. He emphasized the importance of strengthening trade ties between India and China, particularly with the eastern states of India, as bilateral trade between the two nations currently stands at USD 130 billion dollars.

Dr. Brahma Mishra, President of UCCIL, in his welcome address outlined the Chamber’s history and contributions. He proudly noted that Odisha is now the largest producer of steel, aluminum, and stainless steel in India. Dr. Mishra announced that a white paper would be prepared based on the findings from the various workshops and seminars held during the trade show, which will be presented to the state government for consideration.

The three-day conference will feature panel discussions on topics such as investment potential in Odisha, the risks and rewards of innovation, unlocking Odisha’s potential, prospects in the defense sector, logistics and transportation infrastructure, new-generation industrial and export potential, ease of doing business through digitization and AI, and women empowerment through entrepreneurship. Industry leaders, experts, entrepreneurs, and government officials will participate in these discussions to explore the possibilities and challenges within these sectors.