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The senior leadership of JICA met with the state government delegation to discuss several planned infrastructure and social sector initiatives. On Wednesday, Chief Minister Naveen Patnaik met with Japanese industrialists in Tokyo and got investment commitments totaling Rs 26,000 crore in a variety of sectors.
At a business meet in Tokyo, Odisha on Wednesday received investment bids totaling more than Rs 26,000 crore, only one day after Nippon Steel Corporation revealed intentions to build the largest steel plant in the world. The green hydrogen and ammonia, green energy equipment manufacture, IT, ITeS, logistics, metal auxiliary, steel, and metal downstream sectors received the majority of the investment intents.
Over 200 top corporations from Japan and the Indo-Pacific region took part in the Odisha Business Meet Tokyo 2024, which was launched by Chief Minister Naveen Patnaik. Speaking to the business executives, Naveen added that over the past 15 years, Odisha’s economy has regularly risen faster than the national average, making it one of the fastest-growing in all of India. As a result of our natural resource advantage, strategic position, competent people resources, progressive policies, and strong result-oriented government, we are quickly becoming a significant industrial destination, he claimed. According to the CM, Odisha, which is renowned for its rich culture and heritage, is evolving into a contemporary industrial centre.
The government has taken steps to welcome businesses wishing to serve the untapped markets in Eastern and North-Eastern India as well as markets in ASEAN and East Asia, according to Naveen Pattnaik. He also stated that Odisha is becoming the centre of trade and commerce in the Bay of Bengal region as the state is approaching a new era of industrialization driven by technological developmnts and a sustainability-focused mentality. Naveen also stated that he need a collaborative effort between the governments, industries, and people to ensure consistent growth.
Odisha and Japan strengthen ties in business
During the meeting with the Naveen Patnaik, Chief Minister , Odisha, several prominent business leaders, including Hiroki Kobayashi, CEO of IHI Corporation, M. Ishitani, CEO of Marubeni-Itochu Steel Inc., Akita Sigeta, director (Asia-Pacific) of ThyssenKrupp, and Hironobu Miyata, CMD of JGreen Power Pvt Ltd., were present. Additionally, Nihon-Utkal (NITKAL) and IIIT, Bhubaneswar have signed an MoU to collaborate on a skill development initiatives.
Additionally, trade and technology transfer conversations between the Odisha business delegation and Japanese enterprises were made possible at the business meet that the state government sponsored in collaboration with the Indian Embassy in Japan, FICCI, and Japan External Trade Organisation (JETRO).
Naveen had private discussions about their investment ambitions with a number of well-known businessmen. He also communicated with members of the Odia diaspora, including professionals, business owners, academics, and students. The senior leadership of JICA met with the state government delegation to discuss several planned infrastructure and social sector initiatives. The Japan International Cooperation Agency (JICA) reaffirmed its commitment to helping Odisha expand its infrastructure.
Speaking to a country where Buddhism is a prominent religion, the CM noted that his administration’s top priority has been to renovate and restore Buddhist pilgrimage sites. Additionally, he discussed the transformation of Buddhist holy places including Dhauli, Udaygiri, Ratnagiri, and Lalitgiri and asked Japanese investors to come to Odisha to see the change firsthand.
During the business meet, Kazuya Nakajo, executive vice-president of the Japan External Trade Organization (JETRO), highlighted the strategic location and rich natural resources of Odisha, further emphasizing why it is an attractive investment destination for Japanese investors. He also praised the state’s government policies and efforts to improve the ease of doing business in the region.
