Odisha has attracted proposed investments worth ₹53,893.51 crore at India Chem 2026 in Mumbai, with the projects expected to generate 20,210 employment opportunities if implemented. The two-day investment outreach led by Chief Minister Mohan Charan Majhi resulted in nine memorandums of understanding (MoUs) worth ₹51,443.51 crore and four additional investment intents valued at ₹2,450 crore. The proposals cover power, chemicals, metals, textiles and apparel, and agro-processing.
NLC India emerged as the largest prospective investor, with proposals worth approximately ₹36,763.51 crore across power and chemical-related projects. Larsen & Toubro (L&T) proposed an investment of ₹8,100 crore, while Paradeep Phosphates signed an MoU involving ₹4,750 crore. The state is seeking to strengthen its industrial base by expanding into chemicals, petrochemicals and downstream manufacturing. Odisha has also secured approval to host the next edition of India Chem in Bhubaneswar, giving the state another platform to attract domestic and international investors.
Key Takeaways
- ₹53,893.51 crore in proposed investments: Odisha announced nine MoUs and four investment intents at India Chem 2026.
- 20,210 potential jobs: The proposed projects could create employment across several industrial sectors.
- NLC India leads: The company has proposed investments of approximately ₹36,763.51 crore across power and chemical-related activities.
- L&T and Paradeep Phosphates: The companies proposed investments of ₹8,100 crore and ₹4,750 crore, respectively.
- Economic diversification: Odisha aims to develop a broader industrial ecosystem connecting metals, chemicals, petrochemicals and downstream manufacturing.
- India Chem 2027: The next edition of the industry event is expected to take place in Bhubaneswar.
What Happened at India Chem 2026?
India Chem is a major industry event focused on chemicals and petrochemicals, bringing together companies, government representatives and potential investors to discuss manufacturing opportunities and industrial development.
During its two-day outreach in Mumbai, the Odisha government held discussions with corporate leaders and secured investment proposals covering several sectors. According to Chief Minister Mohan Charan Majhi, the state delegation also held 25 one-to-one meetings with business leaders and company representatives.
The investment announcements form part of Odisha’s strategy to attract industrial projects that can use its existing manufacturing base, mineral resources and infrastructure. The state has traditionally been associated with metals, mining and steel production. It is now seeking to expand into higher-value activities, including chemical manufacturing, petrochemicals, fertilisers, textiles and agro-processing.
However, the ₹53,893.51 crore headline figure represents proposed investments. MoUs and investment intents indicate interest and planned commitments, but they do not mean that the entire amount has already been invested or that every project has received all necessary approvals.
Major Companies and Investment Proposals
The investment outreach included proposals from large public-sector and private-sector companies. NLC India accounts for the largest share, followed by L&T and Paradeep Phosphates.
| Company | Proposed investment | Sector | Potential employment |
|---|---|---|---|
| NLC India | ₹36,763.51 crore | Power and chemical-related projects | 4,600 |
| Larsen & Toubro | ₹8,100 crore | Engineering and industrial development | 1,300 |
| Paradeep Phosphates | ₹4,750 crore | Chemicals | 1,000 |
| Shivaraj Spinning Mills | ₹200 crore | Textiles | 5,000 |
| Bodycare | ₹250 crore | Textiles and apparel | 4,000 |
| Greenply Industries | ₹350 crore | Agro-processing | Not specified in the report |
| Four additional investment intents | ₹2,450 crore combined | Chemicals, agro-processing and metal downstream | Not fully specified |
Source: Business Standard and The New Indian Express. Employment figures are reported project estimates, not confirmed jobs already created.
The listed investments illustrate the breadth of Odisha’s investment strategy. Energy and chemicals account for a large share of the proposed capital expenditure, while textile projects could generate significant employment relative to their investment amounts.
NLC India proposes large power and mineral projects
NLC India is the biggest contributor to the investment proposals, with planned activities across electricity generation, chemical-related manufacturing and mineral processing.
The proposed projects include a 3,200-megawatt ultra-supercritical thermal power plant, coal gasification-related work linked to fertiliser production, and a beach sand mineral-processing facility. The power plant proposal is expected to account for most of the planned investment.
The project package could strengthen electricity supply for industrial activity while creating opportunities in mineral processing and related manufacturing. Coal gasification can convert coal into synthesis gas, which can be used as an input for producing chemicals and fertilisers.
The proposals nevertheless remain at different stages. The coal-gasification component includes feasibility work, and detailed implementation plans for some facilities will need to be established before their eventual scale and timelines become clear.
L&T and Paradeep Phosphates expand the industrial pipeline
L&T signed an MoU proposing an investment of ₹8,100 crore, with an estimated employment potential of 1,300 jobs. The engineering and infrastructure group already has an established presence in Odisha at Kansbahal.
The state government has encouraged L&T to explore opportunities in chemicals, petrochemicals, engineering and technology. Discussions also covered industrial automation, engineering design, digital services and links between large businesses and micro, small and medium enterprises.
Paradeep Phosphates proposed ₹4,750 crore in investment in the chemical sector, with an estimated 1,000 employment opportunities. Its proposal fits into the state’s broader ambition to develop an interconnected chemicals and industrial manufacturing ecosystem.
Together, the proposals could help attract supporting suppliers, engineering contractors, logistics operators and other businesses if the projects progress to implementation.
Textile and Agro-Processing Investments Could Support Employment
Not all the announced proposals involve capital-intensive power or chemical infrastructure. Textile and apparel projects could provide a different employment profile.
Shivaraj Spinning Mills signed an MoU involving ₹200 crore, with potential employment for 5,000 people. Bodycare proposed ₹250 crore in investment, with an estimated 4,000 jobs. These projections suggest that the textile-related proposals could play an important role in employment generation, although actual hiring will depend on project execution and operational requirements.
Greenply Industries signed an MoU for a proposed ₹350 crore investment in agro-processing. Agro-processing can create links between agricultural producers and manufacturing facilities, potentially supporting demand for raw materials, transportation, packaging and related services.
These projects also demonstrate why investment totals alone do not fully explain their economic impact. A smaller project may employ more people per rupee invested than a large power or minerals facility. The distribution of jobs, their location and the skills required will influence how widely the benefits are felt.
Four Additional Investment Intents Add ₹2,450 Crore
In addition to the nine MoUs, Odisha announced four investment intents with a combined value of ₹2,450 crore.
| Investor or proposal | Proposed investment | Sector |
|---|---|---|
| An agro-processing company | ₹1,000 crore | Agro-processing |
| JSW Dulux | ₹850 crore | Chemicals |
| Ellora PEB | ₹500 crore | Metal downstream |
| Apar Industries | ₹100 crore | Metal downstream |
| Total | ₹2,450 crore | — |
These investment intents extend the proposed project pipeline into agro-processing, chemicals and downstream metal manufacturing.
Downstream manufacturing is particularly relevant to Odisha because the state already has an established metals industry. Processing raw materials into specialised components and higher-value products can create additional economic activity beyond extraction and primary production.
The investment intents should, however, be distinguished from signed MoUs. Both indicate prospective investment, but the final project scope, financing and implementation arrangements may change.
Odisha’s Push to Build a Broader Industrial Ecosystem
Odisha’s strategy is to develop closer links between its established metals industry and newer manufacturing activities. An integrated industrial ecosystem could connect power generation, mineral processing, steel production, chemicals, petrochemicals, plastics and downstream manufacturing.
The state’s existing industrial base provides a potential starting point. Large industrial projects can create demand for power, engineering services, transport, storage and specialised suppliers. Chemical and petrochemical facilities can also support businesses that use industrial inputs to manufacture finished or intermediate products.
During the Mumbai visit, Majhi held discussions with representatives of POSCO India and JSW Group. The discussions included a proposed 5-million-tonne steel plant with a reported investment of ₹35,000 crore under a JSW-POSCO joint venture. JSW also outlined a planned ₹7,500 crore expansion of its steel facility in Sambalpur.
These steel-related plans provide additional context for Odisha’s industrial ambitions, but they should not automatically be added to the ₹53,893.51 crore India Chem investment total. They are separate projects and announcements unless specifically included in the announced package.
India Chem 2027 to Be Held in Bhubaneswar
The Centre has agreed to organise the next edition of India Chem in Bhubaneswar, according to the Odisha government. The event is expected to take place in October 2027.
Hosting the industry gathering could give Odisha another opportunity to present its industrial infrastructure, policies and potential project sites to domestic and overseas investors. It could also help the state build relationships with companies considering new chemical, petrochemical and related manufacturing facilities.
The event alone will not guarantee investment. The eventual outcome will depend on whether interested companies find viable projects, secure financing and obtain the necessary approvals. Nevertheless, hosting the event could strengthen the state’s visibility in an industry where access to infrastructure, reliable utilities and supply-chain connections can influence location decisions.
The Bigger Picture
The ₹53,893.51 crore investment pipeline signals Odisha’s effort to diversify its industrial economy while building on its strengths in minerals, power and metals. The inclusion of chemicals, textiles, apparel and agro-processing suggests that the state is seeking both capital-intensive projects and industries that can generate broader employment opportunities.
The key measure of success will be implementation rather than the announcement value alone. Investors will need to translate proposals into financed projects, construction activity and operational facilities. Progress on approvals, infrastructure, land, skilled labour and supplier development will determine how much of the proposed investment becomes real economic activity.
FAQs
1. How much investment has Odisha attracted at India Chem 2026?
Odisha announced proposed investments worth ₹53,893.51 crore through nine MoUs worth ₹51,443.51 crore and four investment intents worth ₹2,450 crore.
2. How many jobs could the proposed investments create?
The state government estimates that the proposals could generate 20,210 employment opportunities. These are projected jobs, not positions already created.
3. Which company announced the largest investment proposal?
NLC India is the largest prospective investor in the announced package, with proposals worth approximately ₹36,763.51 crore across power and chemical-related projects.
4. What are L&T and Paradeep Phosphates planning?
L&T signed an MoU proposing ₹8,100 crore in investment, while Paradeep Phosphates proposed ₹4,750 crore for a chemical-sector project. The proposals have estimated employment potential of 1,300 and 1,000 jobs, respectively.
5. Why is Odisha focusing on chemicals and petrochemicals?
The state aims to diversify beyond its established metals and mining industries, develop higher-value manufacturing and build stronger links between industrial sectors and downstream suppliers.
6. Where will the next India Chem event take place?
The next edition is expected to be held in Bhubaneswar in October 2027, following the Odisha government’s discussions with the Centre and FICCI.
Looking Ahead
Odisha’s immediate challenge is to move the announced proposals from investment intent to implementation. The progress of NLC India’s power and mineral projects, the L&T and Paradeep Phosphates proposals, and the employment-oriented textile investments will help determine how the investment pipeline translates into industrial capacity and jobs.
The planned India Chem event in Bhubaneswar in 2027 will provide another opportunity to attract investors and showcase the state’s industrial ecosystem. For now, the ₹53,893.51 crore announcement represents a substantial pipeline of proposed projects, with its ultimate economic contribution dependent on approvals, financing, construction and successful operations.
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