Finance
Odisha signed 45 MoUs worth ₹6,263 crore at the Odisha Pharma Summit 2025 in Bhubaneswar on Tuesday, marking a significant milestone in the state’s industrial expansion. The investment proposals are estimated to create 38,406 jobs across the state, providing a considerable boost to the pharmaceutical and medical device sectors.
The MoUs were signed in front of Chief Minister Mohan Charan Majhi at a ceremony held at the Hotel Taj Vivanta. Of the total agreements, 32 MoUs were signed in the pharmaceuticals sector, 12 in medical equipment manufacturing, and one MoU for a landmark industrial park plan, highlighting Odisha’s increased emphasis on high-value and knowledge-intensive businesses.
Addressing the gathering, the Chief Minister stated that Odisha is prepared to become a major pharmaceutical hub in eastern India, with a focus on creating high-quality pharmaceuticals and medical devices to improve healthcare and treatment outcomes. He stated that the state government is committed to making Odisha the first choice for investors by building a strong, industry-friendly ecosystem while also supporting non-traditional sectors.
On this occasion, the Chief Minister unveiled the Odisha Pharmaceutical and Medical Devices Policy 2025 and laid the groundwork for a specialized Pharma Park and Medical Devices Park in Khordha. He said the new policy is among the best in the country and provides comprehensive incentives covering research, capital investment, infrastructure development and employment generation, which will help the pharma sector scale new heights in the coming years.
Majhi stated that, while metals, minerals, and chemicals have traditionally served as the foundation of Odisha’s industrial sector, the state is now focusing more on infrastructure development, renewable energy, and a knowledge-driven economy to make growth more people-centric. Odisha’s industrial investment has diversified significantly over the previous year and a half, with capital inflows into sectors such as chemicals, petrochemicals, green energy, fintech, electronics, semiconductors, textiles, and tourism. He stated that with the implementation of the new policy initiatives, a new chapter has begun in the pharmaceutical industry as well.
The Chief Minister expressed confidence in Odisha’s global aspirations, saying the state intends to connect its businesses to global value chains and build a distinct identity in the international economic scene. He added that in terms of quality and value, pharma products manufactured in Odisha would be among the most attractive in the world, further strengthening the state’s reputation in medical technology production.
The Chief Minister also emphasized Odisha’s inherent strengths, stating that the state has abundant mineral resources, three major ports, two commercial airports, a 575-kilometer-long coastline, a strong rail and road network, surplus power supply, adequate water resources, and a pool of trained manpower. He claimed that these characteristics position Odisha to become eastern India’s manufacturing hub.
Speaking at the event, Minister for Industries and Skill Development Sampad Chandra Swain stated that the Odisha Pharma Summit 2025 symbolizes the state’s growth-oriented economic goal. He stated that progressive legislation, dedicated industrial parks, and a qualified workforce are providing a favorable climate for pharmaceutical and medical equipment firms to invest and expand in Odisha.
Durga Prasanna Nayak, MLA of Mahakalapada, Chief Secretary Manoj Ahuja, and Development Commissioner Anu Garg were among those who attended the event. Hemant Sharma, Additional Chief Secretary of the Industries and Information & Public Relations Departments, presented the welcoming address, while Ashwathy S, Commissioner-cum-Secretary of the Health Department, submitted the vote of gratitude.
