Bhubaneswar: CM Mohan Charan Majhi on Wednesday exuded confidence that investment proposals in the two-day Utkarsh Odisha-Make in Odisha Conclave 2025 would see a far higher conversion rate than previous business summits that had been plagued by poor implementation.
“We were extremely selective in choosing projects this time to ensure maximum conversion of proposals,” Majhi told a select group of mediapersons. He emphasised that Prime Minister Narendra Modi‘s personal involvement in the initiative would boost investor confidence significantly.
Acknowledging past challenges, the CM noted that previous business summits suffered from poor conversion rate of investment intents. However, he stressed that the current approach is more strategic. “Prime Minister Modi’s guarantee will make a substantial difference this time,” Majhi said, highlighting the central govt’s support for the summit.
The state govt’s careful vetting process for investment proposals marks a departure from previous approaches and is aimed at achieving more realistic and implementable outcomes, he pointed out. Majhi said his govt’s performance in the past seven months, delivering on promises made — like the cash incentive for women under the Subhadra scheme or Rs 800 per quintal bonus for paddy purchase — has earned the trust of everyone, including investors.
The CM said the govt also meticulously planned not to go after big numbers and conducted a fair assessment of proposals before signing memorandums of understanding. The yardstick chosen before making agreements was the rough calculation of whether land could be given within a year. Land is a major factor for investment projects to be implemented, he said. The govt signed 145 MoUs for investments of Rs 12.49 lakh crore during the two-day meet.
Govt sources said in the past three investors’ meets in 2016, 2018 and 2022, the govt received total investment proposals worth Rs 16 lakh crore. Of them, projects of Rs 7 lakh crore were grounded and are in different stages of implementation.
The CM said in the industrialisation initiative, the govt placed a major focus on regional balance. “Our efforts are meant to ensure at least three industries are established in each of the 30 districts,” he said, adding the investment summit was a runaway success, far exceeding expectations.