Odisha Chief Minister invites UAE investment for $500bn economic target

Odisha Chief Minister Mohan Charan Majhi is leading a three-day government delegation to the UAE to secure investment for the Indian state’s $500 billion economic expansion plan. During an official visit in Abu Dhabi on Tuesday, 8 September, Majhi confirmed the state aims to reach a $500 billion valuation by 2036 and $1.5 trillion by 2047 through strategic partnerships with UAE-based enterprises. Industrial expansion and joint ventures The state government is highlighting the $11.5 billion aluminium complex project as a primary model for future cooperation. The venture, formed through a 50:50 partnership between Abu Dhabi-based International Holding Company (IHC) and India’s Adani Group, was announced on 2 July. The project includes a four-million-tonne-per-year alumina refinery and a two-million-tonne aluminium smelter, supported by a 4,000MW captive power plant. This industrial hub is projected to generate over 53,500 jobs during its construction and operational phases. Majhi stated that Odisha intends to integrate UAE companies into its global supply chains, specifically targeting manufacturing, clean energy, logistics, food processing, tourism, and technology. The state is currently transitioning from a resource-heavy economy focused on mineral extraction to one centered on value-added manufacturing and advanced technology. Economic indicators and growth targets According to state government data, Odisha’s economy grew by 7.9% during the 2025-26 financial year. The…