The Chief Minister's Office of Odisha announced on Friday, 3 July 2026 that Chief Minister Mohan Charan Majhi held discussions with a Japanese business delegation at the Convention Centre of Lok Seva Bhavan, focusing on investment opportunities and the growth of the green economy in Odisha. The meeting resulted in the signing of a Memorandum of Cooperation (MoC) with ACME Group and IHI Corporation, covering three projects with a combined proposed investment of approximately Rs 67,000 crore and a projected employment generation of 7,600 jobs.

Context

The post, shared by the official CMO Odisha account and tagging PMO India, states in Odia: 'ଏହି ଦୁଇଟି କମ୍ପାନୀ ଓଡ଼ିଶାରେ ୩ଟି ପ୍ରକଳ୍ପ ସ୍ଥାପନ କରିବା ପାଇଁ ପଦକ୍ଷେପ ନେଇଛନ୍ତି' ('These two companies have taken steps to establish three projects in Odisha'). The engagement signals Odisha's active outreach to Japanese capital as the state positions itself as a destination for green energy and industrial investment.

ACME Group is an Indian renewable energy firm with interests in solar power, green hydrogen, and green ammonia. IHI Corporation is a major Japanese engineering conglomerate with expertise in hydrogen technologies, energy systems, and industrial equipment — making the pairing a natural fit for Odisha's decarbonisation ambitions.

Policy Backdrop

The MoC aligns with India's National Green Hydrogen Mission (2023), which provides production-linked incentives and actively encourages foreign technology partnerships to accelerate decarbonisation. At the bilateral level, the India-Japan Joint Statement on Climate and Energy (2022) had already committed both governments to deeper cooperation in hydrogen and renewables.

At the state level, Odisha's Industrial Policy Resolution (2022) introduced capital subsidies and single-window clearance mechanisms specifically designed to attract green energy investments. The three projects announced under this MoC would represent a significant test of that framework's effectiveness in converting commitments into ground-level activity.

Stakeholders and Impact

For Odisha's workforce, the projected 7,600 direct employment opportunities from the three projects would be a material addition, particularly in the state's emerging clean-energy sector. Japanese investors stand to gain from Odisha's coastal geography, port infrastructure, and competitive land availability — factors that have made eastern India increasingly attractive to firms seeking manufacturing and energy-production bases.

The engagement also reflects the steady deepening of India-Japan economic ties under the 'Act East' policy framework, with Odisha competing alongside other coastal states to become a leading green hydrogen and renewables hub. The tagging of PMO India in the CMO's post underscores the Centre-state coordination being signalled around this investment push.

What's Next

The immediate focus will be on translating the Memorandum of Cooperation into binding agreements, with ground-breaking timelines, land acquisition, and regulatory clearances serving as key milestones. Any follow-up announcements at the next India-Japan Annual Summit or bilateral business forum will be closely watched to gauge the pace of project execution.

With Odisha actively courting overseas capital across the green economy spectrum, the success of these three projects could set a template for how the state structures future Japanese — and broader foreign — partnerships in its renewable energy corridor.