Odisha's Chief Minister highlights the state's investment potential at India Chem 2024, emphasising growth opportunities
Odisha CM Mohan Charan Majhi (centre) with senior officials at India Chem 2024 in Mumbai on Friday. (Image: DC)
Bhubaneswar: Odisha chief minister Mohan Charan Majhi, addressing a global audience at the India Chem 2024 conference in Mumbai on Friday, highlighted Odisha’s vast potential as an emerging hub for the chemicals and petrochemicals industry. The biennial event, organised by the Union ministry of chemicals and fertilizers, served as a platform for Majhi to promote Odisha as a strategic destination for investors in the sector.
In his keynote speech, CM Majhi emphasised that Odisha stands at the forefront of the “Purvodaya” initiative—Prime Minister Narendra Modi's vision for the industrial resurgence of Eastern India. He noted that Odisha, traditionally recognized for its rich natural resources and leadership in the mining and metals sectors, is now rapidly expanding its footprint in chemicals and petrochemicals.
“Odisha’s chemicals and petrochemicals ecosystem is built on a solid foundation, supported by industry giants like Indian Oil Corporation Limited (IOCL), Paradeep Phosphates, and IFFCO,” Majhi said. He also underscored the significance of the Petroleum, Chemicals, and Petrochemicals Investment Region (PCPIR) at Paradeep, which serves as a key industrial hub due to its strategic location near the Paradeep Port, ensuring seamless connectivity to global markets.
Majhi outlined a range of investment opportunities in Odisha’s chemicals sector, pointing to growing demand from core industries such as steel, aluminum, and petrochemicals. Additionally, the state is diversifying into high-growth areas such as technical textiles, recycling of by-products, and specialty chemicals for the plastics and packaging industries.
The CM further noted Odisha’s potential in producing chemicals for the expanding electric vehicle market and in green fuel production to align with the global shift toward cleaner energy.
“Odisha offers immense potential for new investments, driven by its natural resource wealth, robust industrial infrastructure, and extensive connectivity,” Majhi stated, adding that companies like Grasim, Berger Paints, and Supreme Industries have already made significant investments in the state, further accelerating growth in downstream industries.
The CM also highlighted the presence of key players in technical textiles, explosives manufacturing, and specialty chemicals in Odisha, including EPIC, MAS, Premier Explosives, and Eternis. Their presence, he said, reflects Odisha’s emergence as a diversified hub for the chemicals sector that caters to a broad spectrum of industrial needs.
Looking ahead, Majhi shared his optimism about Odisha’s future, asserting that the state’s strategic location on India’s east coast, coupled with its skilled labor pool and supportive government policies, gives it a competitive advantage.
“As global demand for chemicals continues to rise, Odisha is uniquely positioned to meet this demand—not just for India but for the world,” he said.
In his closing remarks, CM Majhi extended an invitation to investors for the “Utkarsh Odisha: Make in Odisha Conclave 2025,” scheduled to be held in Bhubaneswar on January 28-29, 2025. The flagship Global Investors Summit will showcase Odisha’s investment potential across multiple sectors.
Majhi also announced a special session on investment opportunities in Odisha to be held in Mumbai on Saturday, encouraging attendees to explore partnerships and be part of the state’s growth story.
In his keynote speech, CM Majhi emphasised that Odisha stands at the forefront of the “Purvodaya” initiative—Prime Minister Narendra Modi's vision for the industrial resurgence of Eastern India. He noted that Odisha, traditionally recognized for its rich natural resources and leadership in the mining and metals sectors, is now rapidly expanding its footprint in chemicals and petrochemicals.
“Odisha’s chemicals and petrochemicals ecosystem is built on a solid foundation, supported by industry giants like Indian Oil Corporation Limited (IOCL), Paradeep Phosphates, and IFFCO,” Majhi said. He also underscored the significance of the Petroleum, Chemicals, and Petrochemicals Investment Region (PCPIR) at Paradeep, which serves as a key industrial hub due to its strategic location near the Paradeep Port, ensuring seamless connectivity to global markets.
Majhi outlined a range of investment opportunities in Odisha’s chemicals sector, pointing to growing demand from core industries such as steel, aluminum, and petrochemicals. Additionally, the state is diversifying into high-growth areas such as technical textiles, recycling of by-products, and specialty chemicals for the plastics and packaging industries.
The CM further noted Odisha’s potential in producing chemicals for the expanding electric vehicle market and in green fuel production to align with the global shift toward cleaner energy.
“Odisha offers immense potential for new investments, driven by its natural resource wealth, robust industrial infrastructure, and extensive connectivity,” Majhi stated, adding that companies like Grasim, Berger Paints, and Supreme Industries have already made significant investments in the state, further accelerating growth in downstream industries.
The CM also highlighted the presence of key players in technical textiles, explosives manufacturing, and specialty chemicals in Odisha, including EPIC, MAS, Premier Explosives, and Eternis. Their presence, he said, reflects Odisha’s emergence as a diversified hub for the chemicals sector that caters to a broad spectrum of industrial needs.
Looking ahead, Majhi shared his optimism about Odisha’s future, asserting that the state’s strategic location on India’s east coast, coupled with its skilled labor pool and supportive government policies, gives it a competitive advantage.
“As global demand for chemicals continues to rise, Odisha is uniquely positioned to meet this demand—not just for India but for the world,” he said.
In his closing remarks, CM Majhi extended an invitation to investors for the “Utkarsh Odisha: Make in Odisha Conclave 2025,” scheduled to be held in Bhubaneswar on January 28-29, 2025. The flagship Global Investors Summit will showcase Odisha’s investment potential across multiple sectors.
Majhi also announced a special session on investment opportunities in Odisha to be held in Mumbai on Saturday, encouraging attendees to explore partnerships and be part of the state’s growth story.
( Source : Deccan Chronicle )
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