Odisha attracts ₹53,893 crore investment proposals at India Chem 2026, expects 20,210 jobs

Odisha Chief Minister Mohan Charan Majhi receives a warm welcome at the Bhubaneswar airport as he returns from Mumbai after participating in India Chem 2026, in Bhubaneswar on Friday, October 23, 2026. | Photo Credit: ANI

Bhubaneswar Odisha has secured investment proposals worth Rs 53,893.51 crore during the two-day India Chem 2026 in Mumbai, with the projects expected to generate 20,210 employment opportunities, Chief Minister Mohan Charan Majhi said on Friday.

Majhi, who led the state’s delegation to the event, made the announcement after arriving at the Biju Patnaik International Airport here from Mumbai.

“During these two days in Mumbai, nine Memorandums of Understanding (MoUs) and four expressions of investment intent were signed. These initiatives have brought investment proposals worth a total of Rs 53,893.51 crore to Odisha, which are expected to create 20,210 employment opportunities,” he said.

The chief minister also announced that Odisha will host the event next year after discussions with the Centre and the Federation of Indian Chambers of Commerce and Industry (FICCI), which have agreed to the proposal.

Majhi holds meetings with business leaders

During the Mumbai visit, Majhi held 25 one-on-one meetings with business leaders and representatives of companies, including POSCO India, JSW and Larsen & Toubro (L&T), as well as firms based in the US and the European Union.

The discussions helped the state understand investors’ requirements and familiarise them with the facilities and opportunities available in Odisha, Majhi said, adding that several companies had expressed keen interest in investing in the state.

He thanked Union Chemicals and Fertilisers Minister JP Nadda for his support in facilitating discussions with companies.

Odisha seeks to diversify into chemicals and petrochemicals

The chief minister said the outreach was part of the state’s efforts to diversify its economy from a predominantly metal-based one towards the chemicals sector.

Odisha aims to build an integrated industrial ecosystem encompassing metals, downstream metal industries, chemicals, petrochemicals and plastics, he said, adding that the initiative would help the state contribute to the vision of an ‘Atmanirbhar Bharat’.

NLC India proposes largest investment

Among the major investment proposals, NLC India Ltd proposed an investment of around Rs 36,763.51 crore in the chemicals and power sectors, the largest commitment announced during the outreach.

L&T signed an MoU proposing an investment of Rs 8,100 crore. In all, the state signed nine MoUs involving proposed investments of Rs 51,443.51 crore and received four investment intents worth Rs 2,450 crore.

“Odisha is ready to be a major growth partner for L&T in eastern India. We invite L&T to expand its manufacturing footprint, explore new opportunities in chemicals and petrochemicals, and strengthen its presence in engineering and technology,” Majhi said.

Published on October 23, 2026