Prime Minister Narendra Modi emphasized the need for India to transition from exporting raw materials to enhancing local value addition during his address at the “Utkarsh Odisha, Make in Odisha Conclave” in Bhubaneswar. He stated that it is unacceptable for the country to rely on importing finished products while sending raw materials abroad for processing.
Modi highlighted the challenges posed by global supply chains and stressed the importance of establishing a robust domestic supply and value chain to mitigate these impacts. He called upon Indian industries to support micro, small, and medium enterprises (MSMEs) and youth-led startups, asserting that India’s economic progress cannot depend solely on raw material exports.
The Prime Minister’s remarks come as Odisha’s global investors’ summit enters its fourth edition under the Bharatiya Janata Party (BJP)-led state government. Chief Minister Mohan Charan Majhi expressed optimism about attracting investment proposals significantly exceeding the state’s target of Rs 5 trillion during the conclave. He also announced the groundbreaking of a second semiconductor unit in the state, with an investment of Rs 2,500 crore.
Prominent business leaders, including Vedanta Resources Chairman Anil Agarwal and Aditya Birla Group Chairman Kumar Mangalam Birla, attended the event. The Avaada Group announced an initial agreement to invest Rs 20,700 crore in renewable energy projects in Odisha, while JSW Group signed a memorandum of understanding (MoU) to establish a 5 million-tonne per annum steel plant in Keonjhar district with an investment of around Rs 35,000 crore.
Birla highlighted his company’s long-term commitment to Odisha, stating they have already invested Rs 50,000 crore and plan to invest an additional Rs 50,000 crore in aluminium and smelting projects. Tata Steel’s CEO noted that the company has invested approximately $10 billion in Odisha over the past decade and aims to expand its capacity significantly.
Modi reiterated that India’s economic growth is supported by two key pillars: an innovative services sector and high-quality goods production. He stressed the importance of adopting green technologies such as solar, wind, hydro, and green hydrogen to ensure energy security for a developed India by 2047.
He also pointed out Odisha’s unique advantages—its rich heritage, natural resources, and ecotourism potential—positioning it as an attractive destination for investment. The Prime Minister asserted that initiatives like “Wed in India” and “Heal in India” align with Odisha’s capabilities.
In conclusion, Modi’s vision for India’s manufacturing sector underscores a strategic shift towards local value addition and sustainable practices, aiming to enhance the country’s position in global markets while fostering economic growth across regions like Odisha.
