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Bhubaneswar, 28th January 2025: The Utkarsh Odisha: Make in Odisha Conclave 2025 has been a remarkable success for the State, with Odisha receiving a mammoth investment intent of nearly INR 20,900 crores in IT/ITeS, electronics, semiconductors, data centers, and other ancillary sectors. These investments are expected to give a significant boost to its economic growth and ensure balanced regional development.
Companies such as Zoho, Emmvee Photovoltaic Power, Smartsync Innovations, Kaynes Circuits India, Heterogenous Integration Packaging Solutions, Sancode Technologies, Nextgen Hitech Energy, Vistas Global WLL, and VVDN Technologies have submitted significant investment intent. The State’s Electronics and Information Technology (E&IT) Department also exchanged MoUs with NASSCOM, Wadhwani Foundation, and Semiconductor Fabless Accelerator Lab (SFAL), Bengaluru. These MoUs will facilitate the Government of Odisha’s efforts to establish an AI Centre of Excellence, provide training to government officials in emerging technologies, and ensure successful implementation of the Government’s flagship O-Chip program.
During a sectoral event being organized by the E&IT Department, Chief Minister, Odisha, Shri Mohan Charan Majhi inaugurated the virtual foundation laying ceremony of SiCSem Pvt. Ltd’s upcoming project in the State. The company is establishing a 15-acre Silicon Carbide semiconductor power devices manufacturing and ATMP facility in Info valley, Bhubaneswar, in the first phase.
The sectoral event comprised an inaugural session and two-panel discussions on the themes, ‘ESDM: The Next Frontier Catalyzing Odisha’s Tech Revolution’ and ‘Unlocking the potential of Tier II cities: GCCs & FinTech Opportunities’.
Attending the inaugural session, Hon’ble Union Minister for Railways, Electronics & IT, and Information & Broadcasting Shri Ashwini Vaishnaw, said, “The success of our semiconductor mission has enthused the world. We approved all five projects under the India Semiconductor Mission in less than 90 days each. Now the entire world believes that India will be a major semiconductor destination, and there is no doubt about it. Odisha, which has some of the brightest young people in India, will play a significant role in this process.”
Addressing the gathering, Odisha’s Health & Family Welfare, Electronics and IT, and Parliamentary Affairs Minister Dr. Mukesh Mahaling said, “Government of Odisha has set a target of becoming a USD 500 billion economy by 2036 and a USD 1.5 trillion economy by 2047. We have planned a series of initiatives to turn this vision into reality, including setting up of dedicated Tech Business Parks in tier 2 and tier 3 cities, IT Clusters, GCC Parks, an integrated FinTech cluster, and a network of data centers”
Member of Parliament from Odisha’s Jajpur Dr Rabindra Narayan Behera said, “The IT industry in Odisha is undergoing significant transformation. With the evolution of quantum computing and AI, we are at a pivotal moment that demands renewed efforts. This has also opened up a range of opportunities everywhere, and Odisha is well-positioned to emerge as a leading hub for innovation, technology, and digital growth”
Highlighting the substantial strides Odisha has made in the technology sector, E&IT Department’s Principal Secretary Shri Vishal Dev said, “Odisha has become a pre-eminent tech hub nationally. Major global and national IT and professional services firms now have their development centers in Bhubaneswar. Because of the government’s efforts, major semiconductor projects are now coming up in the State – from Silicon Carbide power electronics manufacturing facilities to an advanced glass substrate-based packaging unit. This serves as a testament to the trust investors and companies repose in Odisha.”
An Illustrious Inaugural Session
The event’s inaugural session featured a series of high-impact activities, showcasing the buoyancy of Odisha’s investment ecosystem, the progress the state has made, the trust the investors and leading companies repose in Odisha, and the bright future which beckons the state.
The session witnessed insightful addresses from industry leaders. Speaking during the session, Ajay Vij, Senior Country Managing Director, Accenture India, said, “We have a very long-term relationship with the Government of Odisha, and it has been a pleasure working with them. India’s and Odisha’s strength is its talented youth. We would love to work with the Government of Odisha on community-centric skill-development initiatives.”
Echoing similar sentiments, Shailender Kumar, Senior Vice President, Oracle, said, “Utkarsh Odisha: Make in Odisha Conclave 2025 underlines the commitment of the Government of Odisha to create a digitally empowered society. Our relationship with Odisha is more than three decades old. We have always been very impressed with the talent pool and the investor-friendly environment that exists in the state.”
Praising the Government of Odisha’s proactive approach, Romal Shetty, CEO, Deloitte South Asia, said, “Based on our experience in Odisha, I can confidently say that the Government of Odisha operates at an exceptional pace. To unlock greater opportunities, we must develop plug-and-play infrastructure for captives and establish data centers along the eastern coast. Creating the right social infrastructure will be key to driving sustained growth and innovation.”
Highlighting his company’s commitment to Odisha, Ramesh Kannan, MD Kaynes Technology, said, “Kaynes plans to invest in PCB and bare board making in the state of Odisha. We are looking forward to investing INR 1,500 crores in Odisha in this sector.”
Emphasizing the importance of innovation, Babu Mandava, President and CEO, 3dGS said, “We want India and Odisha to lead in high-end products relying on cutting-edge R&D. We look forward to collaborating with the Government of Odisha to make this vision a reality.”
Dr V Veerappan, Chairman, Indian Electronics and Semiconductor Association, talked about the evolution of the Indian semiconductor industry. “The India Semiconductor Mission has given a major impetus to the semiconductor ecosystem in the country, and Odisha is well-positioned to benefit from it. The State has a futuristic orientation in terms of governance and policy frameworks along with a proficient workforce,” he said.
During the session, Union Minister Shri Vaishnaw also released the India Electronics and Semiconductor Association’s (IESA) report titled, “India Semiconductor Market Report: Analysis, Trends, and Forecasts till 2030.” IESA is one of India’s premier electronics industry associations. He also virtually inaugurated the Silicon Carbide Research Innovation Centre at IIT Bhubaneswar, a center which has been set up with support from SiCSem Pvt. Ltd.
Shri Vaishnaw also inaugurated two new STPI centers in Koraput and Jajpur.
In a noteworthy initiative, the VLSI Society of India and the E&IT Department also sponsored 1000 electronics kits for school students. Texas Instruments, Renesas Electronics, Analog Devices, and Microchip Technology jointly sponsored advanced electronics kits which were received by the directors of IIIT Bhubaneswar, GCE Kalhandi, GCE Keonjhar, and Parala Maharaja Engineering College on behalf of the students.
During the session, the leaders of companies that have significant investment plans in Odisha submitted their intent forms to the Union Minister. A short video showcasing Odisha’s prowess as a major emerging tech hub was displayed to the dignitaries and the audience. The session ended with a vote of thanks from the Special Secretary E&IT Shri Manas Panda.
Insightful Panel Discussions
The second part of the event comprised two insightful panel discussions on the themes, ‘ESDM: The Next Frontier Catalyzing Odisha’s Tech Revolution’ and ‘Unlocking the potential of Tier II cities: GCCs & FinTech Opportunities’. Senior leaders from companies and firms such as Analog Devices, Texas Instruments, Adobe, PwC, Broadridge, KFin Technologies, and EY; Director IIT Bhubaneswar Dr Shreepad Karmalkar; and representatives from leading industrial associations such as IESA and government organizations such as Global Finance & Technology Network, Singapore, participated in the panel discussions.
The session on ESDM encompassed themes such as the market size of the semiconductor industry in India, the need to implement policies that incentivize both product and system design, the importance of semiconductors in power devices, strengthening of the start-up ecosystem in semiconductors, the role of indigenization, among others.
During the session on GCCs, the panelists deliberated on themes such as the evolving role of GCCs, the need for innovation-driven growth, the role GCCs can play in driving growth in Tier-II and Tier-III cities, the abundance of talented youth in India, and strategies to strengthen India’s and Odisha’s position as a global GCC hub.
The Electronics System Design and Manufacturing (ESDM) sector in Odisha is emerging as a key driver of technological advancement and economic growth. Recognizing its transformative potential, the Government of Odisha is actively promoting the state as a major hub for electronics manufacturing.
Simultaneously, the rapid expansion of Global Capability Centers (GCCs) and the rise of FinTech innovations are unlocking new opportunities in Tier-II cities. These developments are attracting talent, fostering investments, and accelerating regional growth, shaping India’s evolving tech landscape. Understanding these emerging opportunities, the Government of Odisha is taking strategic steps to establish Bhubaneswar as a premier GCC hub in India, further reinforcing the state’s position in the technology and innovation ecosystem.
