Make in Odisha: Rs 4.19 lakh cr investment proposals received, foreign investors disappoint

Bhubaneswar: Odisha has received investment proposals worth Rs 4.19 lakh crore during the Make in Odisha conclave 2018, informed CM Naveen Patnaik today.

Briefing the media, Patnaik informed that total intents have been received across 15 diversified sectors with a potential to generate 5.91 lakh additional jobs for the people of Odisha.

“Odisha government will extend all possible support to the industries and we are committed for grounding of the investment intents before the next Make in Odisha conclave which will be held in November 2020,” said Patnaik.

However, six countries did not turn up for the conclave which is being seen as a major disappointment as far as foreign investments are concerned.

The countries which were invited and did not turn up for the conclave include Italy, Germany, China, Saudi Arabia, UAE and South Korea.

Though much hype is being created over the assurance by several industrialists to pump in several lakh crore investments during the Make in Odisha conclave, the reality however presents a different picture altogether.

All such announcements made on the inaugural day by several industrialists were mostly confined to expansion of existing projects in Odisha while no new major projects were announced.

Moreover, there is still uncertainty over such investment proposals materialising on the ground as the industrialists have expressed concerns over availability of raw materials and infrastructure in the State.

Such issues were raised by Jindal and Vedanta groups during the opening day of the conclave.

Experts believe that the issues raised by Vendanta and Jindal assume significance as several other industrialists in Odisha had already expressed their displeasure over lack of adequate infrastructure and support.

Besides, the mega expansion plans of both Vedanta and Jindal may receive a major jolt if the Odisha government fails to provide raw materials and required infrastructure as demanded by the companies.

“At present, all such investment intents are hopes for Odisha. Already Jindal group and Vedanta have flagged several issues and their expansion plans might get a set back if Odisha government fails to extend support,” said senior journalist, Dilip Satpathy.

Industries department secretary, Sanjiv Chopra on the other hand informed that Odisha government is doing its best possible to resolve the issues.

“Whether it is aluminium or steel, Odisha is taking best possible action to resolve the issues faced by the industrialists. As far as the steel industry is considered, there is no dearth of raw materials rather pricing is the major issue,” said Chopra.