Chief Minister Mohan Charan Majhi has set an ambitious vision to transform Odisha into a premier investment destination for the pharmaceutical and medical devices sectors within the next five years. The announcement came during the inaugural Odisha Pharma Summit 2025 held on Tuesday, where the state successfully attracted investment proposals worth a staggering Rs 7,043 crore.
New Policy and Major Investment Commitments
Addressing the summit focused on pharmaceuticals, medical devices, and life sciences, Majhi highlighted the newly approved Odisha Pharmaceutical and Medical Devices Policy 2025. This framework, cleared by the state cabinet on December 5, is designed to foster a globally competitive, innovation-driven ecosystem that generates significant employment.
The event, organized by the state government in partnership with industry body FICCI, resulted in the signing of 45 Memoranda of Understanding (MoUs). Out of the total investment interest, firm commitments account for Rs 6,263 crore through these MoUs, with a projected potential to create 38,406 jobs. A further 24 investment intents worth Rs 780 crore are expected to generate an additional 6,240 employment opportunities.
Incentives and Infrastructure Unveiled
The new policy offers superior incentives, including concessional land and capital subsidies that exceed those for most other industries. A key provision is a 50% subsidy on concessional land cost for units that employ at least 200 skilled workers from Odisha. This threshold is significantly lower than the 1,000 Odia natives required for general industries to avail similar benefits.
To bolster physical infrastructure, the Chief Minister unveiled plans for two new dedicated industrial parks: a pharmaceutical park in the Khurda-Nayagarh region and a medical devices manufacturing park in Khurda.
Breakdown of Signed Agreements
The signed MoUs cover a diverse range of projects within the life sciences sector:
- 32 agreements in the pharmaceuticals domain, totaling Rs 2,681 crore.
- 12 agreements in medical technology and devices, worth Rs 582 crore.
- One major agreement for developing an industrial park, valued at Rs 3,000 crore.
Strategic Push for Global Leadership
"Odisha is ready to emerge as a leading hub for pharmaceuticals and medical devices in India," stated CM Majhi. He emphasized that the combination of the new policy and dedicated pharma parks creates one of the country's most competitive environments for investment, innovation, and job creation.
The government is leveraging the state's strategic coastal location, port-led connectivity, and transparent governance as unique selling points to attract global manufacturers. To further this mission, Majhi is scheduled to lead a high-level delegation to Hyderabad on December 19 for an investment roadshow specifically targeting the pharmaceutical sector.
This concerted push signals Odisha's serious intent to capture a significant share of the growing life sciences market, positioning itself as a formidable alternative to established pharmaceutical hubs in the country.
