Odisha Courts UAE Investors to Shed Mining-Only Image

Odisha is using a three-day investors' meet in the United Arab Emirates to reposition itself as a diversified, technology- and export-oriented industrial destination, moving away from its long-standing identity as a primarily mining-led investment market.

The Odisha Investors' Meet – UAE 2026, running from September 9 to 11, is aimed at drawing global capital, deepening export-oriented industries and building fresh business linkages between the state and the Middle East. A delegation led by the chief minister is leading the outreach.

In a post on X shortly before beginning consultations with investors, the chief minister said 514 projects worth Rs 9.57 lakh crore in investment had been recorded over two years, describing the momentum as real and asserting that Odisha is no longer merely an opportunity on paper.

Data from the Industrial Promotion and Investment Corporation of Odisha, the state's nodal investment promotion agency, indicates that close to half of the investment intents received in the past two years are in advanced stages of approval.

Shift in focus

While mining-based investment has historically dominated Odisha's industrial landscape, the current government has broadened its approach to a range of sectors expected to generate direct and indirect employment.

Industries secretary Hemanta Sharma said the UAE outreach is also meant to accelerate the shift from traditional industries towards new-generation, technology-driven and higher-value sectors. The state is targeting metals downstream, food and seafood exports, port-based industrial and logistics parks, shipbuilding parks, dedicated rare earth corridors, slurry pipeline infrastructure, and chemical and petrochemical parks.

The government said it has attracted investment intents worth Rs 2.2 lakh crore from the Middle East. A key outcome of the meet was the signing of a memorandum of understanding between the state government, Abu Dhabi-based International Holding Company and the Adani Group to explore 14 new projects with an indicative investment of $2.105 trillion. The proposed projects span metal downstream, slurry pipelines, critical minerals and rare earths, chemicals and petrochemical derivatives, renewable energy equipment, healthcare, industrial infrastructure, tourism, skill development and sports infrastructure, and are expected to create over eight lakh employment opportunities.

The chief minister also held one-to-one meetings with Middle Eastern investors and invited them to explore opportunities in the state.

Port-led growth

With a coastline of more than 550 km, Odisha currently has three all-weather ports at Paradip, Dhamra and Gopalpur, and has identified 13 additional sites for port development. Officials said port-led development is expected to open up large-scale opportunities in integrated manufacturing, logistics, exports and global supply-chain linkages.

The state has also proposed a shipbuilding park — the National Shipbuilding and Heavy Industries Park, Odisha Ltd. — which has received in-principle approval from the Centre. The project, with an investment of Rs 24,700 crore, is planned along the Mahanadi riverbank in Kendrapara district, adjacent to Paradip port.

Odisha is also working to strengthen its position as a digital infrastructure hub in eastern India, attracting investment in data centres and semiconductor units, and reframing policies to offer more attractive incentives. Two semiconductor units with an investment of Rs 4,000 crore were approved for the state last year. In May, the state government signed an MoU with Intel Corporation and USA-based 3DGS Inc to set up an advanced packaging glass-substrate manufacturing facility near Bhubaneswar with an estimated investment of over Rs 31,000 crore. The Adani Group has separately proposed a Rs 1 trillion investment for a 1 GW artificial intelligence-focused data centre.

Political context

Officials said that while efforts to attract investment began more than a decade ago under the previous government, the current pace reflects the change of regime in the state. A senior official noted that the same party being in power at the Centre and in the state boosts investor confidence, as it helps expedite clearances and brings in new investment on the Union government's suggestions. The state leadership frequently claims special support from the Centre for railway infrastructure approvals and collaborative planning.

The Opposition, however, disputed the government's investment claims, alleging a wide gap between announcements and implementation on the ground. A spokesperson for the principal opposition party said that announcements follow every overseas visit by the chief minister but do not translate into visible benefits, citing the Singapore visit of November 2024 as an example. The spokesperson also said the Rs 2.1 lakh crore figure cited from the UAE meet repeats announcements already made during Utkarsh Odisha, the state's flagship investors' meet held in January last year.

Industries minister Sampad Swain said the UAE outreach focused on sectors where Odisha has both established strengths and significant future opportunities, particularly investments that promote value addition, exports, technology adoption and a transition towards higher-value industries.