Bhubaneswar: Odisha received a massive investment intent of nearly Rs 20,900 crores in IT/ITeS, electronics, semiconductors, data centres, and other ancillary sectors on the first day of Utkarsh Odisha: Make in Odisha Conclave 2025 being held at Janata Maidan here. These investments are expected to give a major fillip to its economic growth and ensure a balanced regional development.
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 State’s 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 program.
During a sectoral event being organized by the E&IT Department, Odisha Chief Minister Mohan Charan Majhi virtually laid the foundation 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 Catalyzing Odisha’s Tech Revolution’ and ‘Unlocking the potential of Tier II cities: GCCs & FinTech Opportunities’.
Attending a 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.”
Developing a world-class semiconductor and AI ecosystem with our own talent for Viksit Odisha.
— Ashwini Vaishnaw (@AshwiniVaishnaw) January 28, 2025
📍Utkarsh Odisha Conclave, Bhubaneswar pic.twitter.com/KdtAC8Cwz3
Addressing the gathering, Odisha’s Health & Family Welfare, Electronics and IT, and Parliamentary Affairs Minister Dr. Mukesh Mahaling said, “Government of Odisha 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 centers”
Member of Parliament from Odisha’s Jajpur Dr Rabindra Narayan Behera said, “The IT industry in Odisha is undergoing a major 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.”
Speaking during the session, Ajay Vij, Senior Country Managing Director, Accenture India, said, “We have a very long-term relationship with the Government of Odisha, and it has been a pleasure working with them. India’s and Odisha’s strength is its talented youth. We would love to work with the Government of Odisha on community-centric skill-development initiatives.”
Echoing similar sentiments, Shailender Kumar, Senior Vice President, Oracle, said, “Utkarsh Odisha: Make in Odisha Conclave 2025 underlines the commitment of the Government of Odisha to create a digitally empowered society. Our relationship with Odisha is more than three-decades old. We have always been very impressed with the talent pool and the investor friendly environment that exists in the state.”
Praising Government of Odisha’s proactive approach, Romal Shetty, CEO, Deloitte South Asia, said, “Based on our experience in Odisha, I can confidently say that the Government of Odisha operates at an exceptional pace. To unlock greater opportunities, we must develop plug-and-play infrastructure for captives and establish data centers along the eastern coast. Creating the right social infrastructure will be key to driving sustained growth and innovation.”
Highlighting his company’s commitment to Odisha, Ramesh Kannan, MD Kaynes Technology, said, “Kaynes plans to invest in PCB and bare board making in the state of Odisha. We are looking forward to invest INR 1,500 crores in Odisha in this sector.”
During the session, Vaishnaw also released the India Electronics and Semiconductor Association’s (IESA) report titled, “India Semiconductor Market Report: Analysis, Trends, and Forecasts till 2030.” IESA is one of India’s premier electronics industry associations. He also virtually inaugurated the Silicon Carbide Research Innovation Centre at IIT Bhubaneswar, a centre which has been set-up with support from SiCSem Pvt. Ltd.
Vaishnaw also inaugurated two new STPI centers in Koraput and Jajpur.
In a noble initiative, the VLSI Society of India and the E&IT Department also sponsored 1000 electronics kits for school students. Texas Instruments, Renesas Electronics, Analog Devices, and Microchip Technology jointly sponsored advanced electronics kits which were received by the directors of IIIT Bhubaneswar, GCE Kalhandi, GCE Keonjhar, and Parala Maharaja Engineering College on behalf of the students.
The second part of the event comprised two insightful panel discussions on the themes, ‘ESDM: The Next Frontier Catalyzing 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.
During the session on GCCs, the panelists deliberated on themes such as the evolving role of GCCs, the need for innovation-driven growth, the role GCCs can play in driving growth in Tier-II and Tier-III cities, the abundance of talented youth in India, and strategies to strengthen India's and Odisha’s position as a global GCC hub.
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