THEBUSINESSBYTES BUREAU

BHUBANESWAR, SEPTEMBER 19, 2026

Odisha is now transitioning from a “Mine Economy” to a “Mind Economy”, Chief Minister Mohan Charan Majhi said on Saturday, highlighting the state’s growing focus on semiconductors, advanced technology, clean energy and research-driven industries.

Majhi made the remarks after returning from a two-day visit to New Delhi, where he attended the Semicon India 2026 conference on Friday and the State Finance Ministers’ Conference chaired by Union Finance Minister Nirmala Sitharaman on Saturday.

Speaking to reporters at the Bhubaneswar airport, the Chief Minister said extensive discussions were held at the State Finance Ministers’ Conference on financing the country’s journey towards the goal of Viksit Bharat.

He said the huge requirement of funds for agricultural logistics, cold chains and warehousing called for joint financing by the Centre and the states.

Majhi also stressed the need to strengthen clean energy infrastructure, saying Prime Minister Narendra Modi is giving greater importance to clean energy and Odisha is moving towards clean energy generation from traditional energy sources.

He called for viability gap funding and multilateral partnerships in the energy infrastructure sector, with a particular focus on clean energy.

Referring to the Semicon India 2026 conference, Majhi said Odisha’s semiconductor and advanced technology sector had achieved “unprecedented success” and expressed confidence that the state was ready to take the lead in the semiconductor and electronics sector in eastern India in line with Prime Minister Modi’s vision of a Viksit Bharat.

The Third Amendment to the Semiconductor Policy has been approved to facilitate the establishment of semiconductor industries in Odisha, he said.

The state has also decided to establish a world-class “Odisha Silicon Valley” at Naraj in Cuttack over 870 acres, creating a dedicated hub for semiconductor manufacturing, Majhi said.

He said the government has approved a Rs 452-crore National Industry Co-Development Hub on Integrated Power Electronics in partnership with IIT Bhubaneswar to promote research and facilitate the commercialisation of research-based knowledge. The Odisha government will contribute Rs 125 crore towards the project.

 “These initiatives will enable talented and highly educated youth of Odisha to find respectable employment opportunities within the state instead of having to go abroad,” Majhi said, adding that the state was steadily moving from a Mine Economy to a Mind Economy.

Odisha received investment proposals worth around Rs 23,600 crore during Semicon India 2026, which are expected to create more than 6,000 direct jobs, the Chief Minister said.

A Letter of Intent was also signed with QuadQuantum for the manufacture of silicon carbide substrate wafers in Odisha, he said.

Majhi said one-to-one discussions were held with representatives of 18 companies, while roundtable meetings were conducted with five companies. Three companies also signed Letters of Intent with the Odisha government, he said.

The Chief Minister said productive discussions were held with delegations from Japan, Sweden and Taiwan, besides leading global technology companies, including Lam Research, Applied Materials, Sixchem, 3-D Glass Solutions and Intel.

He expressed hope that the engagements would translate into further capital investment in Odisha in the coming days.