Odisha attracts Rs 41,748 cr in food processing

Odisha has secured investment commitments worth Rs 41,748 crore from 27 companies in the food processing sector, Chief Minister Mohan Charan Majhi said on Friday, as the State stepped up efforts to woo investors.

The companies signed memorandums of understanding (MoUs) at an investors’ meet organised by the State Government and industry body Assocham. “The MoUs signed today, worth `31,648 crore with 22 companies in the food processing sector, are proof of this progress,” Majhi said, highlighting recent efforts to attract investment into the sector.

Later, the Odisha Government issued a statement, updating investment figures to Rs 41,748 crore under signed MoUs, while another Rs 1,689 crore investment is proposed through 12 investment intent forms (IIFs). Cumulatively on the first day, the State Government received investment proposals worth Rs 43,437 crore with potential to create 43,316 jobs.

Speaking further, the chief minister noted that Odisha’s industrial economy had long been centred around mining and minerals, but the state is now diversifying into four key sectors, including food and agro processing.

He said the sector is a priority area given its direct link to farmer incomes, with the government promoting food processing across all districts and a dedicated policy in place to incentivise investors.

Majhi added that Odisha ranks among the top five states in Niti Aayog’s investment-friendliness index, and the government is working to make its business processes more inclusive.

Outlining the state’s food business strategy, Majhi said the focus going forward would be on four to five areas -- expanding the range of crops and products; scaling up cold chain, warehousing and processing infrastructure; strengthening food testing and certification capabilities; and integrating MSMEs, cooperatives and women self-help groups engaged in food processing with larger companies.

State Industries Minister Sampad Chandra Swain said Odisha has significant untapped potential in food processing, assuring investors of “seamless grounding and commissioning”.

Chief Secretary Anu Garg said Odisha is positioning itself as a mid-income, high-growth state with a current economy of USD 130 billion, targeting USD 500 billion by 2036 and USD 1.5 trillion by 2047.

The state is pitching its EDGE -- Economy, Demography, Geography and Ecosystem -- to attract investors, citing top-ranked fiscal health, high capital expenditure and strong resource mobilisation as factors that enable sustained infrastructure investment and ensure promised incentives are delivered, she said.

Garg said the state’s industrial vision is closely tied to job creation, with a target of 1 crore non-farm jobs by 2047, and identified food processing and seafood as priority sectors.

Building on existing strengths in rice, millets, pulses, oilseeds, spices, livestock, poultry and fisheries, Odisha is pushing a Deep Sea Fishing Mission and a shrimp export mission aimed at raising seafood exports from about Rs 5,000 crore to Rs 25,000 crore.

Garg added that with the support from FPOs, SHGs, cooperatives, food companies and institutional partners, such as the National Institute of Ocean Technology (NIOT) and Norway on marine spatial planning, the state government is inviting investors to “come and stay” in Odisha as partners in its growth roadmap.

Additional Chief Secretary Hemant Sharma and Assocham President Nirmal Kumar Minda were also present at the event.