Odisha Receives Rs 26K Cr Investment Intents At Business Meet In Tokyo

Bhubaneswar/Tokyo:: The Odisha Business Meet Tokyo 2023 on Wednesday saw Rs 26,000 crore investment intents across green hydrogen and green ammonia, green energy equipment manufacturing, IT/ITeS, logistics, metal ancillary, steel, and metal downstream sectors, according to an official release.

An MoU for collaboration in skill development sector was also signed between Nihon-Utkal (NITKAL) and IIIT, Bhubaneswar.

At the meet, on the second day of his weeklong business tour to Japan, Chief Minister Naveen Patnaik highlighted the business opportunities and investment ecosystem in the state. “Odisha is one of the fastest growing economies in India and has consistently grown above the national average in the last decade and a half. We are fast emerging as a major industrial destination in India because of our natural resource advantage and strategic location. Odisha’s abundant natural resources, skilled and productive human resources, progressive policies and strong result-oriented governance provide a unique ecosystem. Today, Odisha is ranked among the top states in India in terms of attracting investments and has been accorded the achievers status in the recently released ease of doing business ratings by the Government of India.”

Naveen also highlighted how Odisha is becoming the fulcrum of trade and commerce in the Bay of Bengal region and the measures his government has undertaken to help industries looking to cater to the untapped markets in eastern and north-eastern India as well as markets in ASEAN and East Asia region. “As we enter into a new era of industrialisation propelled by advancements in technology and a philosophy of sustainability, we require a collaborative effort between the governments, industries and people to ensure consistent growth,” he further said.

The CM also spoke about renovation and restoration of Buddhist pilgrimage sites in Odisha. “I am happy to say that we are transforming sites like Dhauli, Udaygiri, Ratnagiri and Lalitgiri. I request all my Japanese friends to visit Odisha and experience the change. Come, Invest in Odisha, Invest in the future. Come, Join the Juggernaut.”

The event, organised in association with Indian Embassy in Japan, Japan External Trade Organisation (JETRO), and the Federation of Indian Chamber of Commerce and Industry (FICCI), was attended by more than 200 leading companies in Japan and the Indo-Pacific region. It also saw trade and technology transfer-discussions between Odisha business delegation and Japanese companies.

Executive Vice-President, JETRO, Kazuya Nakajo and senior officials from Odisha government, IPICOL and FICCI were present in the meeting.

During the day, the CM also met several senior industrialists across sectors for one-to-one meetings to discuss their plans for investments in India and presented the case for Odisha being the best investment destination for them. Here are some of the major investors, whom he met:

1 IHI Corporation President & CEO Hiroki Kobayashi
2 TYK Corporation President & CEO Ushigome
3 Price Waterhouse Coopers LLC Chairman Koichiro Kimura
4 Marubeni-Itochu Steel Inc. President & CEO M Ishitani
5 Krosaki Harima Corporation Director on the Board and Managing Officer Masafumi Takeshita
6 ThyssenKrupp Director, Asia-Pacific, Akita Sigeta
7 Toyo Engineering Group Head Ponomarev Dmitry
8 JGreen Power Private Limited CMD Hironobu Miyata
9 JFE Steel Corporation Nominee Director Hiroyuki Ogawa
10 Fujisoft Inc. Chief Operating Officer Renhong Sun
11 Nissin Foods Chief Executive Officer Michikoy Kakuchi
12 ICIJ President J S Chandrani and association members

He reiterated that with direct flight connectivity from Bhubaneswar to Bangkok and Bhubaneswar to Singapore, Odisha is set to become the gateway to East and South-East Asia and more business opportunities are set to come up for investors across both India and Japan.

The state government delegation also had a meeting with the senior leadership of JICA and discussed various upcoming social-sector and infrastructure projects in Odisha. The JICA leadership reiterated their commitment to supporting infrastructure development in the state.

After the business meet and one-to-one interactions with industry captains, the CM concluded the day’s engagements with an interaction with Odia diaspora.