Finance & Economy | News & Insights

Odisha Eyes Global Investment at Singapore Roadshow

Published: November 25, 2024
Author: TANVI_MUNJAL

Odisha’s Chief Minister, Mohan Charan Majhi, led a high-powered delegation to Singapore on a three-day roadshow to showcase the state’s immense potential for investment in the textile and apparel sector, among others. The event, held on Tuesday, attracted over 300 delegates, including prominent industry leaders, investors, and the Odia diaspora.

The roadshow highlighted Odisha’s rich natural resources, world-class infrastructure, and skilled workforce. The state government is actively promoting itself as a prime destination for investment, particularly in sectors like textiles and apparel, where it has significant growth opportunities.

Key Highlights of the Roadshow:

  • Interactive Sessions: The delegation engaged in interactive sessions with global investors and industry leaders, focusing on business opportunities in Odisha. The state government emphasised its commitment to providing a conducive business environment.
  • High-Level Meetings: Chief Minister Majhi held high-level discussions with Singapore’s Minister of Transport, Chee Hong Tat, to explore collaborations in the field of multimodal logistics. The state aims to learn from Singapore’s advanced transportation systems and implement similar solutions to improve its logistics infrastructure.
  • Skill Development Focus: The delegation visited the Institute of Technical Education and Education Services (ITEES) to strengthen collaboration in skill development. Odisha is committed to becoming the “Skill Capital of India” and is working towards establishing world-class skill development centres.
  • Industry Partnerships: The state government engaged with leading global companies like Linde, Vena Energy, CapitalLand, Everstone Group, Vopak, Indorama, Micron, and MAS Holdings to attract investments in sectors such as chemicals, petrochemicals, metals, IT, ITeS, textiles, and apparel.

Odisha’s Textile and Apparel Potential:

Odisha possesses a strong foundation for the textile and apparel industry, with abundant natural resources like cotton and jute. The state government has implemented various initiatives to promote the sector, including:

  • Skill Development: Investing in skill development programs to create a skilled workforce.
  • Infrastructure Development: Improving infrastructure, including power supply, transportation, and logistics.
  • Investor-Friendly Policies: Implementing investor-friendly policies to attract domestic and foreign investment.
  • Cluster Development: Promoting cluster development to enhance efficiency and competitiveness.

By participating in the Singapore roadshow, Odisha aims to attract significant investments in the textile and apparel sector, creating jobs and driving economic growth. The state government is confident that Odisha will emerge as a global textile and apparel hub.

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