Unleashing Opportunities: Odisha Chief Minister Naveen Patnaik Invites Japanese Investors to Explore Investment Potential in Odisha

The Chief Minister of Odisha, Naveen Patnaik, recently hosted the Odisha Business Meet Tokyo 2023, where he extended a warm invitation to Japanese investors to explore investment opportunities in the state of Odisha, located in eastern India. The meeting witnessed significant investment intents worth Rs 26,000 crores across various sectors, including Green Hydrogen and Green Ammonia, Green Energy Equipment Manufacturing, IT/ITeS, Logistics, Metal Ancillary, Steel, and Metal Downstream. The Chief Minister highlighted Odisha's favorable business environment, stable governance, strategic location, and abundant natural resources, positioning it as an attractive investment destination.

The Odisha Business Meet in Tokyo was attended by over 200 delegates representing various industries from Japan and was organized in association with the Indian Embassy in Japan, the Japan External Trade Organization (JETRO), and the Federation of Indian Chamber of Commerce and Industry (FICCI). Mr. Kazuya Nakajo, Executive Vice-President of JETRO, highlighted the strong bond between Japan and India and urged Japanese investors to consider major investments in India, particularly in Odisha due to its strategic location and natural resource advantage.

Mr. Pradeep Kumar Jena, Chief Secretary of the Government of Odisha, highlighted the state's impressive GSDP (Gross State Domestic Product) growth rates, stable governance, competitive cost of doing business, and skilled human resources, which make it an attractive investment destination. He also spoke about the state's emerging IT/ITeS ecosystem and the policies implemented to attract investments in the electronics and IT sectors, underscoring the state's commitment to promoting a conducive environment for businesses to thrive.

Mr. Manoj Mishra, Principal Secretary of the Electronics & IT Department of the Government of Odisha, emphasized the state's focus on creating a robust ecosystem for the electronics and IT sectors, including the development of state-of-the-art infrastructure and the provision of various incentives and concessions to attract investments. He highlighted the state's potential in becoming a major hub for electronics manufacturing and IT services, providing ample opportunities for Japanese investors to explore.

Mr. Pratap Keshari Deb, Hon'ble Minister - Industries, MSME & Energy, Government of Odisha, welcomed industry captains and associations to explore Odisha as their next investment destination. He emphasized the state government's whole-of-government approach toward service delivery to citizens and businesses, focusing on ease of doing business and providing a conducive environment for investments to flourish.

Chief Minister Naveen Patnaik, in his address, highlighted Odisha's position as one of the fastest-growing economies in India and its abundant natural resources, skilled workforce, progressive policies, and strong governance, which create a unique ecosystem for investments. He also emphasized Odisha's role as a hub for trade and commerce in the Bay of Bengal region, with world-class ports and connectivity, making it an ideal location for businesses to establish their presence.

Chief Minister Patnaik also visited the Kimitsu Steel Works of Nippon Steel Corporation (NSC) and appreciated the use of environmentally sustainable green technologies in steel production. The plant produces specialized steel products for downstream industries like automobiles. The Chief Minister discussed the potential use of similar green technologies in upcoming steel plants in Kendrapara and Jagatsinghpur districts of Odisha, with a focus on specialized steel products to support downstream industries. He assured support from the Government of Odisha for Arcelor Mittal-Nippon Steel (AM/NS) India's upcoming integrated steel plants in the state, showcasing the government's commitment to promoting sustainable and responsible industrialization.

In addition to the discussions on investments and collaborations in various sectors, Chief Minister Naveen Patnaik also took the opportunity to visit the Kimitsu Steel Works of Nippon Steel Corporation (NSC) during his trip to Japan. He was impressed with the use of environmentally sustainable green technologies in steel production at the plant, which produces specialized steel products for downstream industries like automobiles. The Chief Minister discussed the potential use of similar green technologies in upcoming steel plants in Kendrapara and Jagatsinghpur districts of Odisha, with a focus on producing specialized steel products to support downstream industries.

During the visit, Chief Minister Naveen Patnaik also assured support from the Government of Odisha for Arcelor Mittal-Nippon Steel (AM/NS) India's upcoming integrated steel plants in the state. He expressed appreciation for NSC's hospitality and hoped that the visit would further strengthen the relationship between NSC and Odisha. This highlights the state government's commitment to attracting investments in the steel sector, which has been a key contributor to Odisha's economic growth.

Apart from economic discussions, Chief Minister Naveen Patnaik also hosted a roundtable discussion in Kyoto with a focus on collaboration between Japan and Odisha in tourism and sports. He emphasized Odisha's potential as a tourist destination, particularly its rich Buddhist heritage, which offers ample opportunities for tourism development. The Chief Minister also highlighted the strides made by Odisha in the sports sector and expressed hope for collaboration with Japanese sports associations and universities.

During the roundtable discussion, a Memorandum of Understanding was signed between the Government of Odisha and Arcelor-Mittal Nippon Steel for the development of a Gymnastics Centre in Odisha. This collaboration in the sports sector is expected to further promote sports and athleticism in the state, and strengthen the ties between Japan and Odisha.

Chief Minister Naveen Patnaik expressed appreciation for the warm hospitality extended by Kyoto and hoped that the visit would further strengthen the relationship between Japan and Odisha. He reiterated Odisha's commitment to promoting economic growth while preserving its cultural heritage and natural resources. The Chief Minister also highlighted the state's efforts in renovating and restoring Buddhist pilgrimage sites, showcasing Odisha's rich cultural history and its focus on sustainable tourism.

The Odisha Business Meet Tokyo 2023 witnessed investment intents worth Rs 26,000 crores across various sectors, including Green Hydrogen and Green Ammonia, Green Energy Equipment Manufacturing, IT/ITeS, Logistics, Metal Ancillary, Steel, and Metal Downstream. This reflects the growing interest of Japanese investors in Odisha and the state's favorable business environment, stable governance, strategic location, and abundant natural resources that make it an attractive investment destination.

Chief Minister Naveen Patnaik's visit to Japan and the discussions held during the Odisha Business Meet Tokyo 2023 have opened up new avenues for collaboration and investment between Japan and Odisha. The state government's proactive approach in attracting investments, promoting sustainable industries, preserving cultural heritage, and developing the tourism and sports sectors has been well-received by Japanese investors. The Memorandum of Understanding signed during the visit further underscores the commitment of both Odisha and Japan to strengthen bilateral relations and promote mutual economic growth.

In conclusion, Chief Minister Naveen Patnaik's visit to Japan and the Odisha Business Meet Tokyo 2023 have provided a platform for Japanese investors to explore investment opportunities in Odisha. The Chief Minister highlighted the state's favorable business environment, stable governance, strategic location, abundant natural resources, and commitment to preserving cultural heritage while promoting industrialization. The discussions held during the visit and the Memorandum of Understanding signed in the tourism and sports sectors are expected to pave the way for increased collaborations and investments between Japan and Odisha.