Odisha CM Mohan Charan Majhi has set the ball rolling for his government’s first investment summit to be held next January. He met diplomats of 34 countries in Delhi last week and invited them to the signature meet, now named Utkarsh Odisha: Make-in-Odisha Conclave.
The CM assured them of an investor-friendly ecosystem, robust infrastructure, ease of doing business and a skilled workforce in tune with the demands of modern industries. Odisha has traditionally attracted mineral-based industries due to its rich resources, but Majhi is keen to explore newer vistas in renewable energy, electronics, textiles, food processing, chemicals and IT.
The BJP government claims to have received in its first 100 days promises to invest over Rs 45,000 crore. Majhi doubled his government’s five-year investment target to Rs 5 lakh crore. But for it to fructify, his administration will require a serious course correction.
For a state that started industrialising decades ago, Odisha has clearly flattered to deceive. When the previous BJD regime started the push in 2005, the government notched up over 90 memorandums of understanding in no time. Much of it ended in a whimper as the process got bogged down by conflicts over land acquisition and red tape, prompting some global companies to opt-out.
The Make-In-Odisha summit started in 2016 and went on to be more about pomp that banked on big numbers to create an impact. In its 2018 edition, the summit attracted 202 investment intents worth Rs 4.23 lakh crore, followed by Rs 10.48 lakh crore in 2022. As per government records, only 23 of these proposals translated to memorandums for industries. Entailing an investment of Rs 2.45 lakh crore, these projects have the potential to employ 65,000 people.
The previous dispensation’s mistake was depending too much on big, extractive industries while ignoring smaller enterprises. The BJP’s poll manifesto promised the creation of 3.5 lakh jobs by 2029, for which Majhi must focus on high-impact projects, not just high-value ones.
Employment and sustainability must be his priority, following the triple bottom line of the planet, people and profit. For that, it has to assess the potential of nimble-footed, sunrise industries in the state. His Rs 5-lakh-crore investment goal will require a strong commitment from his bureaucracy. Majhi must ensure that the investment intents are transparently tracked all the way to fructification. That will require responsive governance from the start.