THEBUSINESSBYTES BUREAU

MUMBAI, OCTOBER 22, 2026

Odisha is poised to emerge as a chemical and petrochemical powerhouse by leveraging its mineral wealth, port infrastructure and growing industrial ecosystem, Chief Minister Mohan Charan Majhi said on Thursday, outlining an ambitious roadmap to transform the state into a major hub for advanced manufacturing and downstream industries.

Addressing the inaugural session of India Chem 2026 at the Bombay Exhibition Centre here, Majhi highlighted Odisha's transition from a traditional mineral-based economy to a chemical-led industrial growth model, backed by strategic infrastructure, investment-friendly policies and a skilled workforce.

The chief minister said nearly 200 industrial units had been established in Odisha in less than two-and-a-half years, attracting investments of around Rs 3.52 lakh crore. The state has also received investment proposals exceeding Rs 22.50 lakh crore, of which more than Rs 12.50 lakh crore have been approved by the High-Level Clearance Authority (HLCA), reflecting growing investor confidence, according to the state government's presentation.

Odisha's push to strengthen its chemicals and petrochemicals sector is anchored by the Paradip Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR), supported by Indian Oil Corporation Ltd's refinery and petrochemical complex, and the Paradip Plastic Park. These facilities are expected to create significant downstream opportunities in polymers, packaging, technical textiles and other value-added products.

The state is also seeking to capitalise on its strategic access to Paradip, Gopalpur and Dhamra ports to improve connectivity with domestic and international markets, while developing new industrial opportunities in emerging sectors.

Gopalpur is being positioned as a hub for green hydrogen, green ammonia, refrigerants and fluorochemicals, while coal-gasification-based projects in Talcher and Lakhanpur are expected to support the development of new industrial value chains.

Majhi also underscored the importance of skilled manpower and institutional support in accelerating industrial growth, citing the role of institutions such as the Institute of Chemical Technology (ICT) and the Central Institute of Petrochemicals Engineering and Technology (CIPET).

The state's investment outreach has also yielded encouraging results in overseas markets. During an investor outreach programme in the United Arab Emirates in September 2026, Odisha secured investment proposals worth around Rs 2.5 lakh crore, including approximately Rs 2.10 lakh crore from International Holding Company (IHC). The proposed investments are largely focused on chemicals, petrochemicals and critical minerals.

The developments come as India seeks to expand its chemicals and petrochemicals industry to USD 300 billion by 2030 and USD 1 trillion by 2040, positioning the sector as a key driver of manufacturing growth, export competitiveness and employment generation.

The 14th edition of India Chem 2026, organised by the Department of Chemicals and Petrochemicals under the Union Ministry of Chemicals and Fertilisers in association with the Federation of Indian Chambers of Commerce and Industry (FICCI), is being held from October 22 to 24 under the theme "Advantage Bharat: An Emerging Global Chemicals Hub".

The inaugural session was attended by Union Minister for Health and Family Welfare and Chemicals and Fertilisers J P Nadda, Union Minister of State Anupriya Patel, Maharashtra Chief Minister Devendra Fadnavis and Madhya Pradesh Chief Minister Mohan Yadav, among other dignitaries.

Nadda highlighted the importance of research and development, domestic manufacturing and industry collaboration in strengthening India's chemicals sector. He also referred to the integration of advanced chemicals into the national research and development scheme, backed by a Rs 1 lakh crore corpus.

Japan is the partner country and Madhya Pradesh the partner state at this year's edition, which brings together policymakers, investors and industry leaders to explore investment opportunities, advanced manufacturing technologies and international partnerships.

For Odisha, the focus on chemicals and petrochemicals represents a strategic effort to move beyond the extraction and processing of raw minerals towards higher-value industrial production, potentially strengthening supply chains, generating employment and broadening the state's manufacturing base.

With large investment proposals, established petrochemical infrastructure and expanding opportunities in emerging industries, the state is seeking to position itself as a key destination for domestic and global investors looking to tap India's growing chemicals market.