Odisha Chief Minister Mohan Charan Majhi on Friday, 23 October 2026, announced that his state secured proposed investments worth ₹53,893.51 crore and the potential for 20,210 jobs through deals struck at India Chem 2026 in Mumbai. The haul comprises nine Memoranda of Understanding (MoUs) and four investment intents signed during Majhi's two-day visit to the chemical and petrochemical conclave held on 22 and 23 October.

Key Deals Signed

The single largest commitment came from NLC India Ltd, a Navratna Central Public Sector Enterprise under the Ministry of Coal, which signed an MoU with the Odisha government for a proposed investment of ₹36,763.51 crore in the chemicals and energy sectors — accounting for more than two-thirds of the total investment figure secured at the event.

Beyond the NLC pact, 25 one-to-one meetings were held on the sidelines of the conclave. Chief Minister Majhi held discussions with representatives of POSCO India, JSW, Larsen & Toubro (L&T), and companies from the United States and the European Union, signalling intent to broaden Odisha's industrial footprint beyond its traditional metals base.

Odisha Chem 2027 Announced

In a notable forward-looking move, Majhi announced that Odisha Chem 2027 will be held in October next year, after both the Central Government and FICCI gave the green signal to host the national chemicals conclave in the state. The Chief Minister said he personally discussed the proposal with the Union government during the Mumbai visit. If it materialises, it would mark the first time a state outside a major metropolitan hub hosts the flagship national chemicals industry event.

The Strategic Pivot: Metals to Chemicals

Majhi framed the investment push as central to Odisha's ambition of diversifying away from its metals-dependent economy. 'This conference has helped us move towards achieving our goal of diversifying from a metal-based economy to a chemical-based economy,' he said. He added that a 'complete industrial ecosystem' — spanning metals, metal downstream, chemicals, petrochemicals, and plastics — would be developed in the state to support the broader national vision of Atmanirbhar Bharat.

This comes amid a broader trend of resource-rich states like Odisha leveraging their industrial land banks and raw-material proximity to attract downstream chemical and petrochemical investment, as global supply chains look to diversify away from China-centric hubs.

Centre's Role and Political Context

Majhi specifically acknowledged Union Minister for Chemicals and Fertilisers J.P. Nadda for facilitating discussions with companies at the conclave. The Chief Minister returned to Bhubaneswar on Friday evening and briefed the media directly, underscoring the political salience of the investment numbers ahead of scheduled investor summits the state has been building toward.

With the formal MoUs now signed, attention will turn to how quickly ground-level clearances, land allocation, and infrastructure provisioning follow — the traditional bottlenecks that separate announcement-stage investment from actual capital deployment in India's states.