The Odisha government approved twenty investment proposals worth Rs 766.12 billion (Rs 766.12 bn) across multiple sectors at a High-Level Clearance Authority meeting chaired by Chief Minister Mohan Charan Majhi. The decisions are expected to support industrial diversification and to generate employment for more than 50,000 people in the state. The government attributed the inflows to progressive policies, improved infrastructure and continued efforts to ease doing business. The approvals span manufacturing, renewable energy and heavy industry.

Major approvals include three lab-grown diamond manufacturing projects by Kira Diam LLP, Anjali Labtech and Grow Magnificent in Khordha district, with a combined investment of Rs 98.18 bn and anticipated creation of around 8,100 jobs. In the green energy equipment segment, Tata Power Renewable Energy proposed Rs 100.00 bn for an ingot, wafer and solar photovoltaic cell complex in Ganjam and Saatvik Solar Industries proposed Rs 17.10 bn for a solar PV cell plant in the same district. Officials indicated these projects aim to strengthen local value chains.

The rare earth and advanced materials space attracted proposals such as a Rs 12.50 bn NdFeB magnet plant from N.A.N. Magnetech and a Rs 24.00 bn sintered permanent magnet facility from Larsen & Toubro, both targeted at Khordha, Cuttack or Ganjam locations. World Titanium Industry plans a Rs 28.00 bn titanium dioxide slag and pigment unit in Ganjam. These investments were presented as supporting electric vehicle supply chains and advanced materials capacity in the state.

Steel, iron and ferro alloys accounted for a share of approvals, including Rashmi Metallurgical Industry's Rs 150.00 bn proposal for a four million (mn) tonne per annum (MTPA) integrated steel plant in Jajpur. Shyam Metalics and Energy proposed Rs 75.80 bn for a one MTPA plant in Sambalpur while SMC Power Generation outlined expansions totalling Rs 91.50 bn across Badmal and Hirma sites. Other clearances covered a Rs 11.70 bn pharmaceutical facility by Nectar Lifesciences and a Rs 15.00 bn railway coach manufacturing unit by Jupiter Wagons. The state said the approvals reinforce its focus on job creation and industrial growth.