Odisha govt secures $50b investment in two years as it seeks FDI from UAE
Over 150 companies based out of the UAE and MENA region attended the event
Dubai: A meet to increase investors’ interest in the Indian state of Odisha was held in Dubai on Wednesday.
Over 150 companies based out of the UAE and MENA region attended the event, where investment opportunities in the western Indian state were highlighted, spearheaded by the chief minister Naveen Patnaik.
The state has seen investments to the tune of $50 billion over the last two years, and is attracting foreign direct investment in sectors such as metals, chemicals, petrochemicals, textiles, food processing, logistics and clean energy.
“Odisha holds the lion’s share of India’s mineral reserves with 96 per cent of the country’s chromite reserves, 92 per cent nickel, 53 per cent bauxite, 45 per cent manganese, 35 per cent iron-ore, and 23 per cent coal reserves of India,” the chief minister said.
“Odisha also has 11 per cent of India’s water resources. The state has a 480-km long coastline making it a natural choice for setting up ports, and for international trade.”
Patnaik also highlighted the state’s investment in technical and professional institutes.
“Eleven of India’s top 100 industrial training institutes are in Odisha. With the assistance of the Asian Development Bank (ADB) and the Institute of Technical Education Services (ITEES), Singapore, the Government of Odisha has recently established the World Skill Centre in Bhubaneswar to prepare the Odia workforce for modern and new age Industry.”
Odisha will be conducting the third edition of its flagship Global Investors Meet – Make In Odisha 2022 – during Nov 30-Dec 4, 2022, in Bhubaneswar.