From Hyderabad to Kolkata: Odisha steps up national investor outreach

Call it the ‘Purvodaya Vision’ gaining momentum or simply a well-timed push. Hot on the heels of the Hyderabad roadshow that drew Rs 66,781 crore in investment commitments and promised over 56,340 jobs, Odisha Chief Minister Mohan Majhi on Saturday secured nearly Rs 1 lakh crore fresh investment pledges at a high-profile investors’ roadshow in Kolkata.

In what can be seen as a reflection of Odisha’s successful drive to position itself as the industrial growth engine of eastern India, the coastal state in eastern India appears to be quietly luring fresh capital from the neighbouring state, even as some of them remain caught up in intense political battles and mudslinging ahead of state legislative assembly polls.

Significantly, what the Odisha Chief Minister is advocating is not inter-state competition, but collaborative growth in eastern India. He has been unequivocal in driving home the point that Odisha envisions a complementary industrial ecosystem across the region, leveraging shared strengths to build a robust eastern economic corridor.

Odisha today is financially strong and economically secure. The state is moving decisively from a resource-dependent economy to one driven by value addition, advanced manufacturing and sustainable industrialisation.

It must be remembered that Odisha enjoys strategic advantages beyond its long coastline and major ports at Paradip, Dhamra and Gopalpur, which position it as a natural hub for port-led industrialisation catering to eastern and central India. The state’s focus is clearly on speed, scale and policy stability. It is being pitched as a preferred destination for manufacturing, electronics, green energy and technology-driven investments.

The Kolkata roadshow featured 130 one-on-one meetings with top corporate leaders and four sector-specific roundtables. As many as 27 Memoranda of Understanding were signed, with a combined investment potential of Rs 81,864 crore and employment prospects for over 63,000 people. Additionally, 19 investment intent proposals worth Rs 18,453 crore were received, projected to create more than 27,500 jobs.

The Hyderabad investor mobilisation drive, on its parts, resulted in signing of 13 Memoranda of Understanding (MoUs), attracting Rs 27,650 crore in investments and creating 15,905 employment opportunities. In addition, nine Investment Intention Filings (IIFs) indicated further investment potential exceeding Rs 39,131 crore and employment prospects for over 40,000 people.

The back-to-back roadshows clearly signal the Odisha government’s aggressive national outreach to diversify its industrial base beyond mining and metals.

While how much of this vision translates into action remains to be seen, there are ample indications that Odisha is aiming to anchor itself firmly in India’s next phase of industrial expansion.