Odisha receives investment proposal worth Rs 20,900 crore

Bhubaneswar, Jan 29 Odisha received a mammoth investment proposal of nearly Rs 20,900 crore in IT/ITeS, electronics, semiconductors, data centres, and other ancillary sectors on the first day of the two-day 'Utkarsh Odisha' - Make in Odisha conclave-2025 on Tuesday.

These investments are expected to boost its economic growth and ensure balanced regional development significantly.

Companies such as Zoho, Emmvee Photovoltaic Power, Smartsync Innovations, Kaynes Circuits India, Heterogeneous Integration Packaging Solutions, Sancode Technologies, Nextgen Hitech Energy, Vistas Global WLL, and VVDN Technologies have submitted significant investment proposals.

On Tuesday, the State's Electronics and Information Technology Department also exchanged MoUs with NASSCOM, Wadhwani Foundation, and Semiconductor Fabless Accelerator Lab (SFAL), Bengaluru.

"These MoUs will facilitate the Odisha government's efforts to establish an AI Centre of Excellence, provide training to government officials in emerging technologies, and ensure successful implementation of the government's flagship O-Chip program," said a press statement by the state government.

The Odisha's Electronics and IT Department on Tuesday organised a sectoral event comprising an inaugural session and two-panel discussions on the themes, 'ESDM: The Next Frontier Catalysing Odisha's Tech Revolution' and 'Unlocking the potential of Tier II cities: GCCs & FinTech Opportunities'.

During the sectoral session, Odisha Chief Minister Mohan Charan Majhi also inaugurated the virtual foundation laying ceremony of SiCSem Private Ltd's upcoming project in the state.

The company is establishing a 15-acre Silicon Carbide semiconductor power devices manufacturing and ATMP facility in Infovalley, Bhubaneswar, in the first phase.

Attending the inaugural session, Union Minister for Electronics and IT, and Information and Broadcasting, Ashwini Vaishnaw, said, "The success of our semiconductor mission has enthused the world. We approved all five projects under the India Semiconductor Mission in less than 90 days each. Now the entire world believes that India will be a major semiconductor destination, and there is no doubt about it. Odisha, which has some of the brightest young people in India, will play a significant role in this process."

While addressing the gathering, state Electronics and IT Minister Mukesh Mahaling said, "The Odisha government has set a target of becoming a $500 billion economy by 2036 and a $1.5 trillion economy by 2047. We have planned a series of initiatives to turn this vision into reality, including setting up dedicated tech business parks in tier-2 and tier-3 cities, IT Clusters, GCC Parks, an integrated FinTech cluster, and a network of data centres."

The industry leaders speaking during the inaugural session of the event praised the talent pool and the investor-friendly environment that exists in Odisha.

"Kaynes plans to invest in PCB and bare board making in Odisha. We are looking forward to investing Rs 1,500 crore in Odisha in this sector," said Ramesh Kannan, Kaynes Technology Managing Director, during the session.

Source: IANS