Odisha Attracts Over ₹31,000 Crore in Food Processing Investments: What’s Next?
Odisha's Investment Surge in Food Processing
New Delhi/Bhubaneswar: Odisha has successfully attracted investment commitments totaling ₹31,648 crore from 22 companies within the food processing industry, as announced by Chief Minister Mohan Charan Majhi on Friday. This initiative is part of the state's ongoing efforts to draw in investors.
The agreements, known as memorandums of understanding (MoUs), were formalized during an investors' meeting organized by the state government in collaboration with an industry association.
Majhi emphasized that these MoUs, amounting to ₹31,648 crore, signify significant progress in the state's investment landscape, particularly in the food processing sector.
Historically, Odisha's industrial focus has been on mining and minerals; however, the state is now diversifying its economy to include four primary sectors, with food and agro-processing being a key area.
The chief minister pointed out that food processing is crucial for enhancing farmer incomes, and the government is actively promoting this sector across all districts, supported by a dedicated policy to attract investors.
Odisha has been recognized as one of the top five states in Niti Aayog's investment-friendliness index, and the government is committed to making its business processes more inclusive.
Majhi outlined the state's food business strategy, which will concentrate on expanding crop varieties and products, enhancing cold chain and warehousing infrastructure, improving food testing and certification, and integrating micro, small, and medium enterprises (MSMEs), cooperatives, and women's self-help groups with larger corporations.
State Industries Minister Sampad Chandra Swain remarked that Odisha possesses considerable untapped potential in food processing, assuring investors of a smooth grounding and commissioning process.
Chief Secretary Anu Garg stated that Odisha aims to establish itself as a mid-income, high-growth state, with a current economy valued at USD 130 billion, targeting USD 500 billion by 2036 and USD 1.5 trillion by 2047.
The state is promoting its EDGE—Economy, Demography, Geography, and Ecosystem—to attract investors, highlighting its strong fiscal health, high capital expenditure, and effective resource mobilization as key factors for sustained infrastructure investment and the fulfillment of promised incentives.
Garg also mentioned that the state's industrial vision is closely linked to job creation, with a goal of generating 1 crore non-farm jobs by 2047, identifying food processing and seafood as priority sectors.
Building on its strengths in rice, millets, pulses, oilseeds, spices, livestock, poultry, and fisheries, Odisha is advancing a Deep Sea Fishing Mission and a shrimp export initiative aimed at increasing seafood exports from approximately ₹5,000 crore to ₹25,000 crore.
She concluded by inviting investors to 'come and stay' in Odisha as partners in the state's growth journey, with support from farmer producer organizations (FPOs), self-help groups (SHGs), cooperatives, food companies, and institutional partners like the National Institute of Ocean Technology (NIOT) and Norway for marine spatial planning.
Additional Chief Secretary Hemant Sharma and Assocham President Nirmal Kumar Minda were also in attendance at the event.