Naveen Patnaik's Business Conclave Concept Drives Rs 16 Lakh Crore Investment in Odisha

The opposition BJD recently highlighted that the previous administration led by Naveen Patnaik attracted investment proposals worth Rs 16 lakh crore through three Make in Odisha conclaves. Former industries minister Debi Prasad Mishra noted that Patnaik initiated these business summits, with the first held in 2016, followed by events in 2018 and 2023. Of the Rs 16 lakh crore proposed, projects worth Rs 7 lakh crore were realised, accounting for about 34% of the intents.

Mishra emphasised that Patnaik's efforts drew both domestic and international investors to Odisha. Although the event was biennial, it was not conducted in 2020 due to the COVID-19 pandemic. The BJP government later organised the fourth edition, renaming it Utkarsh Odisha – Make in Odisha Conclave 2025. Mishra stated that while organising such summits is beneficial, the government must ensure policies are in place to help investors implement their projects.

Investment Climate and Investor Confidence

Investor confidence and law and order are crucial for attracting investments, according to Mishra. He stressed that a peaceful industrial environment is vital for investors to feel secure and willing to invest in the state. Responding to queries, he mentioned that the chief minister has set a target of Rs 5 lakh crore for investment intents from the current conclave.

Odisha Chief Minister Mohan Charan Majhi expressed optimism about increased investor interest following Prime Minister Narendra Modi's speech at the conclave. Majhi anticipated investment intents exceeding three to four times the target. Industries minister Sampad Chandra Swain reported that Odisha has already received proposals worth Rs 4.5 lakh crore and approved investments of Rs 2.5 lakh crore over seven months, meeting the state's target.

Political Criticism and Future Prospects

Swain also mentioned that additional MoUs would be signed on the final day of the two-day event that began on Tuesday. Meanwhile, ruling Odisha BJP vice president Biranchi Narayan Tripathy criticised the BJD, alleging that they failed to gain investor trust over 24 years, hindering industrial development. Tripathy claimed that under the current government, development is progressing rapidly.

The Prime Minister has committed to transforming Odisha into a developed state, according to Tripathy. This commitment aims to address past shortcomings and foster a more conducive environment for industrial growth in Odisha.