Day 1 Of Utkarsh Odisha: State Receives Rs 20,900 Cr Investment Intent In IT

Bhubaneswar: Odisha received investment intent of nearly Rs 20,900 crore in in IT/ITeS on the inaugural day of Utkarsh Odisha: Make in Odisha Conclave 2025 in Bhubaneswar on Tuesday.

The investment proposals, which are expected to give a significant boost to the state’s economic growth, were made in IT/ITeS, electronics, semiconductors, data centres and other ancillary sectors.

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

The Electronics and Information Technology (E&IT) Department also exchanged MoUs with NASSCOM, Wadhwani Foundation, and Semiconductor Fabless Accelerator Lab (SFAL), Bengaluru. These MoUs will facilitate the Government of Odisha’s efforts to establish an AI Centre of Excellence, provide trainings to government officials in emerging technologies, and ensure successful implementation of the Government’s flagship O-Chip programme.

During a sectoral event, organised by the E&IT Department, Chief Minister Mohan Charan Majhi inaugurated the virtual foundation laying ceremony of SiCSem Pvt. Ltd’s upcoming project in the State. The company is establishing 15-acre Silicon Carbide semiconductor power devices manufacturing and ATMP facility in Infovalley, Bhubaneswar, in the first phase.

The sectoral event comprised 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’.

Attending the inaugural session, Union Minister for Railways, Electronics & IT, and Information & 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.”

Addressing the gathering, Odisha’s Health & Family Welfare, Electronics and IT, and Parliamentary Affairs Minister Mukesh Mahaling said, “The state government has set a target of becoming a USD 500 billion economy by 2036 and a USD 1.5 trillion economy by 2047. We have planned a series of initiatives to turn this vision into reality, including setting up of 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.”

Odisha’s Jajpur MP Rabindra Narayan Behera said, “The IT industry in Odisha is undergoing significant transformation. With the evolution of quantum computing and AI, we are at a pivotal moment that demands renewed efforts. This has also opened up a range of opportunities everywhere, and Odisha is well-positioned to emerge as a leading hub for innovation, technology, and digital growth.”

Highlighting the substantial strides Odisha has made in the technology sector, Vishal Dev, Principal Secretary, E&IT Department’s said, “Odisha has become a pre-eminent tech hub nationally. Major global and national IT and professional services firms now have their development centres in Bhubaneswar. Because of the government’s efforts, major semiconductor projects are now coming up in the State – from Silicon Carbide power electronics manufacturing facilities to an advanced glass substrate-based packaging unit. This serves as a testament to the trust investors and companies repose in Odisha.”

The event’s inaugural session featured a series of high-impact activities, showcasing the buoyancy of Odisha’s investment ecosystem, the progress the state has made, the trust the investors and leading companies repose in Odisha, and the bright future which beckons the state. The session witnessed insightful addresses from industry leaders.

During the session, Union Minister Vaishnaw released the India Electronics and Semiconductor Association’s (IESA) report titled, “India Semiconductor Market Report: Analysis, Trends, and Forecasts till 2030.” He also inaugurated two new STPI centers in Koraput and Jajpur.

A short video showcasing Odisha’s prowess as a major emerging tech hub was displayed to the dignitaries and the audience. The session ended with a vote of thanks from Special Secretary E&IT Manas Panda.

The second part of the event comprised two insightful panel discussions on “ESDM: The Next Frontier Catalysing Odisha’s Tech Revolution” and “Unlocking the potential of Tier II cities: GCCs & FinTech Opportunities”. Senior leaders from companies and firms such as Analog Devices, Texas Instruments, Adobe, PwC, Broadridge, KFin Technologies, and EY; Director IIT Bhubaneswar Dr Shreepad Karmalkar; and representatives from leading industrial associations such as IESA and government organizations such as Global Finance & Technology Network, Singapore, participated in the panel discussions.