Odisha industries minister Sampad Chandra Swain on Saturday said the state government is expecting investments worth nearly ₹5 lakh crore during the upcoming Utkarsh Odisha conclave 2025.

Prime Minister Narendra Modi will inaugurate the “Utkarsh Odisha–Make in Odisha Conclave 2025”, the state’s biennial investors' meet, scheduled to be held on January 28-29.

Addressing a news conference here on Saturday, Swain said: “Nearly 100 MoUs will be signed during the summit. We are expecting an investment of ₹5 lakh crore.”

Asked how much investment has already flown to the state, the minister said: “After our government came to power, about 159 MoUs have been signed and more than ₹2.5 lakh crore investment has been promised.”

"Besides the Prime Minister and Union ministers Dharmendra Pradhan, Ashwini Vaishnaw and Jual Oram, business tycoons such as Kumar Mangalam Birla, L.N. Mittal, Anil Agarwal, Sajjan Jindal, Karan Adani and T.V. Narendran Hitesh Joshi will come to the state to participate in Odisha’s growth story. We will not only showcase our strength in different sectors but also project Odisha as one of the best investment destinations in the country,” Swain said.

Hemanta Sharma, principal secretary (industries), was also present at the news conference.

Besides the rich mineral resources, the Utkarsh Odisha conclave will focus on petrochemicals, film, medial and downstream industries, renewable energy and green fuels.

Stating that Odisha is the leading state in attracting investments to the country, Swain said: “The joint venture of JSW and POSCO have come to an understanding to set up a steel plant in Keonjhar district. We are working on the vision to make Odisha a developed state by 2036.”

Swain said Nippon Steel has also started the groundwork for its proposed project at Paradip. So far, 7,500 delegates across the country have already registered with the Odisha government to participate in the Make in Odisha conclave, he added.

“Out of 7,500 delegates, around 100 from 16 countries such as Italy, Malaysia, Australia, Singapore, Vietnam, France, Zimbabwe, Kazakhstan, Venezuela, the UK, the US and Nepal will come to explore business opportunities in the state. The number of participants is likely to increase,” Swain said.

“The state government will examine all the MoUs, which have been already signed but not grounded yet. We will issue show-cause notices to the companies concerned.”

Nearly 150 exhibitors will showcase innovative products in the Make in Odisha conclave, which will be opened to the public on January 30.