Odisha poised to become a petrochemical hub: Union Minister Patel

09 Sep 2024 CW Team

She also mentioned that the India Chem 2024 summit, scheduled to take place in Mumbai from October 17-19 after a two-year break, is expected to draw substantial global participation.

Patel, the Minister of State for Chemicals and Fertilizers, explained that Odisha's advantageous factors will create immense opportunities for manufacturing, employment, and exports in the chemicals and petrochemicals industries. She further noted that the sector, currently valued at $220 billion, is expected to exceed $1 trillion by 2047. According to her, the government's focus on enhancing domestic manufacturing and reducing reliance on imports will accelerate growth.

Odisha's Minister for Industries, Skill Development, and Technical Education, Sampad Charan Swain, discussed the transformative impact of the state's industrial policies and incentives on the petrochemical sector. He emphasized improvements in infrastructure, port systems, and electricity tariffs, as well as the state's efforts to develop a skilled workforce to meet industry demands. Swain also highlighted the state government's commitment to investing in green technologies to reduce carbon footprints and achieve net-zero goals.

Nivedita Shukla Verma, Secretary of the Ministry of Chemicals and Fertilizers, explained the importance of the petroleum sector, which contributes eight per cent to the nation's manufacturing and three per cent to global sales. She pointed out that it is one of the fastest-growing markets worldwide and that the government is actively working to enhance its contribution to India's development, aiming to double petrochemical exports over the next decade.

Deepankar Aron, Joint Secretary of the Ministry of Chemicals and Fertilizers, announced that India Chem 2024 will feature over 200 companies and attract more than 7,000 visitors. The event will include B2B and B2G meetings, a global CEO forum, and roundtable discussions with representatives from countries such as Japan, Korea, Brazil, Argentina, and the UAE. He added that more than 40 organizations and industry associations from Odisha will participate in the event, and a job fair will be held for the first time.

Odisha's Chief Secretary, Manoj Ahuja, highlighted the state's expansion efforts in ports like Paradip, Gopalpur, and Dhamra, along with the development of national highways and roads.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

Union Minister Anupriya Patel stated that Odisha is prepared to become a leader in the petrochemical sector, which is projected to grow into a $1 trillion industry by 2047. Speaking at the Advanced India: Indian Chemicals and Petrochemicals Paving the Future conference, she emphasised that the eastern state, with its skilled workforce and strategic coastal location, is well-positioned to become a key hub in the sector. She also mentioned that the India Chem 2024 summit, scheduled to take place in Mumbai from October 17-19 after a two-year break, is expected to draw substantial global participation. Patel, the Minister of State for Chemicals and Fertilizers, explained that Odisha's advantageous factors will create immense opportunities for manufacturing, employment, and exports in the chemicals and petrochemicals industries. She further noted that the sector, currently valued at $220 billion, is expected to exceed $1 trillion by 2047. According to her, the government's focus on enhancing domestic manufacturing and reducing reliance on imports will accelerate growth. Odisha's Minister for Industries, Skill Development, and Technical Education, Sampad Charan Swain, discussed the transformative impact of the state's industrial policies and incentives on the petrochemical sector. He emphasized improvements in infrastructure, port systems, and electricity tariffs, as well as the state's efforts to develop a skilled workforce to meet industry demands. Swain also highlighted the state government's commitment to investing in green technologies to reduce carbon footprints and achieve net-zero goals. Nivedita Shukla Verma, Secretary of the Ministry of Chemicals and Fertilizers, explained the importance of the petroleum sector, which contributes eight per cent to the nation's manufacturing and three per cent to global sales. She pointed out that it is one of the fastest-growing markets worldwide and that the government is actively working to enhance its contribution to India's development, aiming to double petrochemical exports over the next decade. Deepankar Aron, Joint Secretary of the Ministry of Chemicals and Fertilizers, announced that India Chem 2024 will feature over 200 companies and attract more than 7,000 visitors. The event will include B2B and B2G meetings, a global CEO forum, and roundtable discussions with representatives from countries such as Japan, Korea, Brazil, Argentina, and the UAE. He added that more than 40 organizations and industry associations from Odisha will participate in the event, and a job fair will be held for the first time. Odisha's Chief Secretary, Manoj Ahuja, highlighted the state's expansion efforts in ports like Paradip, Gopalpur, and Dhamra, along with the development of national highways and roads.

Real Estate

29 Jun 2026

Omaxe to Invest Rs 62 Billion in Hospitality Expansion

Omaxe has announced the launch of a dedicated hospitality business vertical with plans to develop 19 hotels across five states over the next four to five years as part of its strategy to strengthen recurring revenues and expand its integrated development ecosystem.The real estate developer proposes to invest approximately Rs 62 billion, subject to regulatory approvals and market conditions, to develop nearly 5 million sq ft of hospitality assets across high-growth urban centres, pilgrimage destinations and transit corridors.The proposed portfolio will be integrated with Omaxe's existing townsh..

Infrastructure Transport

29 Jun 2026

Third Railway Line Between Tatanagar And Adityapur Likely By September

The third railway line between Tatanagar and Adityapur is expected to be commissioned by September as work on the corridor advances, according to railway sources. The project to add a fourth line on the busy route is progressing and has been allocated Rs 50.89 billion (bn) in funding. The allocation underscores the focus on increasing capacity and easing congestion on the corridor. Relevant timetables are being adjusted to integrate the new capacity into regular operations. Construction activity has involved track laying, formation work and signalling upgrades along strategic stretches, with m..

Infrastructure Transport

29 Jun 2026

Indian Railways Approves Rs 2.7 bn Kavach Rollout in Odisha

Indian Railways has approved a Rs 2.7 billion (Rs 2.7 bn) plan to install the Kavach train collision avoidance system on 631 route kilometres in the East Coast Railway zone. The Ministry of Railways said the work will form part of a wider Kavach deployment programme that relies on an LTE based communication backbone rather than a standalone installation. The approval marks the latest stage in the steady expansion of the indigenous safety technology across the national network. The decision aims to enhance safety and reliability on corridors serving Odisha and adjoining areas. The project will ..