The BJP government in Odisha has received investment proposals worth ₹16.73 lakh crore since coming to power in June 2024.

Industry minister Sampad Chandra Swain told the Odisha Assembly on Friday that the proposals would give the required fillip to the ongoing industrialisation process of the Mohan Charan Majhi-led government.

He said ₹13 lakh crore worth of MoUs were signed during the Utkarsh Odisha – Make in Odisha Conclave 2025. “593 MoUs worth around ₹13 lakh crore were signed during the Make in Odisha conclave,” Swain informed the House.

Replying to a query on industrialisation and how many industrial houses have set up plants and commenced production, the minister said the proposals spanned manufacturing, mining, infrastructure, IT and emerging technology sectors.

He informed the House that work has commenced on 85 projects with a cumulative investment of ₹2.04 lakh crore. “Focus is on bringing youth-centric and new-age industries apart from the traditional ones,” he said.

Swain added that since the beginning of the Make in Odisha conclave in 2016, the state has received investment proposals worth ₹23.72 lakh crore. Officials said the state received ₹2.43 lakh crore in 2016, ₹3.94 lakh crore in 2018, ₹4.45 lakh crore in 2022 and ₹12.89 lakh crore in 2025.

However, several companies that signed MoUs are yet to set up units though they continue to retain large chunks of land allotted to them. So far, only nine industrial houses have started production, and 29 projects are in the construction stage.

The government hopes that once the projects are grounded, Odisha will be able to achieve its target of becoming a 500 billion-dollar economy by 2036 and a 1.5 trillion-dollar economy by 2047.