Bhubaneswar: Setting an ambitious course for the State’s industrial future, Chief Minister Mohan Charan Majhi delivered a compelling keynote address at IndiaChem 2026 on Thursday outlining Odisha’s vision to transition from a mineral-based economy into a robust chemical and petrochemical powerhouse.
Addressing industry leaders and global investors, Chief Minister Majhi emphasised that Odisha is fully prepared to play a vital role in achieving NITI Aayog’s national roadmap, which envisions India’s chemical industry reaching a staggering 1 trillion dollars by 2040.
Building upon its existing dominance in steel and aluminium production, Odisha is uniquely positioned to supply essential industrial gases, acids, and water-treatment chemicals. The Chief Minister noted that this creates a massive domestic market for the chemical sector. Through major ports like Paradip, Gopalpur, and Dhamra, industries enjoy seamless access to raw materials, industrial land, and international trade routes.
Highlighting the thriving ecosystem in Paradip, CM Majhi pointed to the Paradip PCPIR, which features IndianOil’s massive 15-million-tonne refinery and a petrochemical complex worth approximately ₹61,000 crore. Furthermore, emerging projects—such as fluorochemicals and green hydrogen in Gopalpur, coal gasification for urea production in Talcher, and technical-grade ammonium nitrate in Lakhanpur—are cementing Odisha’s status as a premier chemical hub.
Underscoring the state’s investor-friendly environment, the Chief Minister highlighted that Odisha ranked among the top five states in NITI Aayog’s 2026 Investment Friendliness Index and secured the number one position in the 2026 Fiscal Health Index.
In less than two and a half years, Odisha has successfully established nearly 200 industrial units backed by Rs 3.52 lakh crore in investments, while receiving over Rs 22.50 lakh crore in total investment proposals. Recent international delegations, including a landmark visit to the UAE in September 2026, yielded an additional Rs 2.50 lakh crore in prospective investments spanning chemicals, petrochemicals, and critical minerals.
To support this rapid industrial expansion, premier institutions like the Institute of Chemical Technology (ICT) and CIPET are actively driving cutting-edge research, testing, and skill development, ensuring a steady stream of competent human resources for downstream manufacturing and allied sectors.
Concluding his address with a powerful message of partnership, Chief Minister Majhi extended a warm invitation to global and domestic investors.
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