The conclave, taking place from January 28 to 29, will kick off with a grand reception at Bhubaneswar Airport, where PM Modi will be welcomed by Bharatiya Janata Party (BJP) leaders. Following the warm welcome, the Prime Minister will head to the event venue at Janata Maidan to officially launch the summit.

The Utkarsh Odisha conclave is designed to position the state as a central player in India’s industrial growth, in alignment with the Purvodaya Vision. The state’s ambition is to emerge as a leading investment hub and industrial powerhouse, benefiting from its rich resources and strategic location.

One of the key highlights of the event will be the inauguration of the Make in Odisha Exhibition, which will showcase the state’s accomplishments in creating a vibrant industrial ecosystem. This exhibition will provide a platform for interaction between industry leaders, investors, and policymakers, focusing on the opportunities for investment and collaboration in Odisha.

The conclave is expected to attract over 7,500 investors from across the globe. It will feature a range of activities including CEOs and Leaders’ Roundtables, sectoral discussions, B2B meetings, and policy dialogues. These sessions will focus on key sectors such as Information Technology (IT), renewable energy, textiles, chemicals, and food processing.

In addition to local participants, 12 countries—Australia, Malaysia, Japan, Germany, Poland, and Cuba among them—have been invited as “Countries of Focus.” These nations will explore potential investment opportunities in Odisha, further enhancing the global outreach of the conclave.

The Odisha government is targeting an impressive Rs 5 lakh crore in investments, with plans to sign 100 Memorandums of Understanding (MoUs) during the event. However, Industry Minister Sampad Chandra Swain has emphasized that the focus will not just be on MoUs but on ensuring the effective implementation of projects that can drive sustainable industrial growth.

Through the conclave, Odisha aims to accelerate its journey toward becoming a global industrial hub, working towards its vision of a “Samrudh Odisha” by 2036 and contributing to the goal of a “Viksit Bharat” (Developed India) by 2047. The Utkarsh Odisha conclave is poised to be a defining moment in the state’s industrial transformation, fostering opportunities for both domestic and international investments.

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The conference aims to offer an unparalleled opportunity for participants to engage in dialogues centered around economic development while staying rooted in the timeless Dharmic traditions. WHEF has emphasized that this initiative is in line with the vision of a prosperous and developed Bharat by 2047, an objective set to be achieved through collaborative efforts in innovation, sustainability, and strategic reforms.

The Maha Kumbh, which takes place once every twelve years, is a major spiritual event attracting millions of devotees and Dharmic practitioners. However, this year, it will also serve as a platform for deliberating on the country’s economic future, according to the WHEF’s release. The event will bring together policymakers, business leaders, industry experts, and finance professionals to discuss critical policies and programs for advancing Uttar Pradesh and Bharat on their path to development.

During the World Hindu Economic Forum 2024 held in Mumbai, Uttar Pradesh’s Chief Minister, Mahant Yogi Adityanath, endorsed the idea of a WHEF conference at the Maha Kumbh. He emphasized that Vikas (development) and Virasat (heritage) are intertwined, making the Kumbh an ideal setting for discussions on economic progress. He invited the WHEF to host the conference, which is now set to take place in 2025.

This year’s conference will focus on Uttar Pradesh’s crucial role in the nation’s economic and social development. It will explore Bharat’s roadmap toward becoming a developed nation by 2047 through targeted reforms and growth strategies. In addition to policy discussions, the event will highlight the cultural, social, and economic significance of the Maha Kumbh and its ability to unify people, instill cultural pride, and drive economic prosperity.

Attendees will also have the unique opportunity to partake in the spiritual practices of the Kumbh Mela, including the Triveni Sangam Snan (holy dip), which symbolizes regeneration and renewal. This integration of spirituality with economic dialogue represents an innovative approach to shaping a future where both development and heritage go hand in hand.

The WHEF conference at the Maha Kumbh stands as a bold step towards creating an inclusive and sustainable economic framework, strengthening the nation’s progress as it moves toward its centenary of independence in 2047.

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During the interaction, the Prime Minister emphasized the importance of national unity, diversity, and the spirit of Ek Bharat Shreshtha Bharat (One India, Great India). He encouraged participants to engage with people from different states, fostering a deeper sense of unity and solidarity. PM Modi also touched on the theme of perseverance, urging the attendees to not fear failure but to learn from it. “Never be scared of failure. There should be a spirit to learn from failure; whoever learns from failure achieves success,” he remarked, reinforcing the value of resilience and determination.

When asked about his own sources of inspiration, the Prime Minister drew strength from the tireless work of India’s farmers and soldiers. He shared, “I see farmers and feel how hard they work. I see soldiers standing guard at the borders for hours and think I don’t deserve the right to rest.” This sentiment reflected PM Modi’s unwavering commitment to a disciplined and hardworking lifestyle, which he credits as a cornerstone of his productivity.

The discussion also highlighted the role of responsible citizenship in achieving the goal of Viksit Bharat. PM Modi urged the youth to take an active role in nation-building, stressing the importance of contributing to platforms like the My Bharat Portal. He advocated for the cultivation of good habits, including discipline, punctuality, and maintaining a daily diary, all of which contribute to personal and national growth.

The Prime Minister highlighted several government initiatives, particularly those aimed at empowering women. He spoke about the creation of 3 crore Lakhpati Didis (wealthy women), showcasing how such schemes have transformed lives and contributed to economic development. One participant shared a heartfelt story about their mother, whose products gained international recognition thanks to these initiatives. PM Modi also pointed to the success of the Digital India campaign, noting how affordable data rates have revolutionized connectivity and made digital services more accessible to the masses.

In terms of national cleanliness, the Prime Minister reiterated the significance of collective action. “If 140 crore Indians commit to maintaining cleanliness, India will always remain Swachh (clean),” he declared. He also championed the Ek Ped Maa Ke Naam initiative, encouraging people to plant trees in honor of their mothers, further promoting environmental conservation.

The conversation concluded with a call to embrace physical well-being through the Fit India Movement, with PM Modi urging all participants to incorporate yoga and fitness routines into their daily lives for a healthier nation.

The event also saw foreign participants express their admiration for India’s warmth and hospitality, sharing their positive experiences from their visits to the country. This further reinforced the global appeal and significance of India’s rich culture and growing influence on the world stage.

Through this engaging interaction, Prime Minister Modi not only outlined his vision for a Viksit Bharat but also inspired the next generation to take responsibility for the country’s progress, fostering a collective commitment to the nation’s future.

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The survey, which covered a sample of 300 firms across various industries, also highlighted a continued focus on job creation, with 97% of firms indicating that they plan to increase employment over the next two fiscal years. The findings signal a strong recovery and growth trajectory for India, even amid the challenges posed by global geopolitical tensions and disruptions in supply chains.

Chandrajit Banerjee, Director General of CII, emphasized that the anticipated uptick in private-sector investments and the growing employment opportunities align with India’s broader economic goals. “With the two critical drivers of growth—private investments and employment—looking positive, we feel confident that the overall growth is likely to remain stable at around 6.4-6.7 percent this year, with a possible rise to 7.0 percent in FY’26,” Banerjee stated.

The CII survey, which is part of a larger initiative to track the progress of private-sector investments, employment, and wage growth, has provided promising results. As part of its ongoing study, the CII expects to complete the survey for 500 firms by the first week of February.

Private Investments on the Rise

Despite the uncertain global economic climate, with geopolitical tensions and disruptions in supply chains, 75% of the respondents in the CII survey expressed confidence in the Indian economy’s potential to attract private investment. This optimism is largely attributed to the government’s effective economic policies, which have focused on public capital expenditure (capex) as a means to stimulate growth. As a result, India has managed to stand out as a key player in the global economy.

The significant investment plans for FY’26 further demonstrate the confidence within the private sector, with companies across all industry sizes—large, medium, and small—reporting strong intentions to boost their capital expenditures. This increase in investment is expected to have a ripple effect on the economy, generating higher demand, stimulating production, and enhancing infrastructure development.

Employment and Wage Growth: Positive Trends

Employment generation has emerged as a key focus in India’s policy discussions, with job creation being a cornerstone of the nation’s vision for 2047, which envisions a “Viksit Bharat” (Developed India). According to the survey, an impressive 97% of companies indicated plans to increase their workforce in both FY 2024-25 and FY 2025-26. Of these firms, a majority (42-46%) expect to increase their workforce by 10-20% over the next two years, while around 31-36% anticipate growth of up to 10%.

The manufacturing and services sectors are expected to see the largest increases in direct employment, with projections ranging from 15-22%. Indirect employment is also expected to grow significantly, with firms in both sectors forecasting a 14% rise in employment in the near future.

The survey also revealed that companies are facing challenges in filling senior management and supervisory positions, with hiring times for these roles typically ranging from one to six months. This indicates the ongoing need for a skilled workforce at higher levels within the industry.

Wages: A Driver of Consumption

The survey also highlighted a positive trend in wage growth, which has a direct impact on personal consumption—a key factor in driving economic expansion. Around 40-45% of the firms surveyed reported an increase in wage growth for senior management, managerial, and regular workers in the range of 10-20% for FY’25, continuing the upward trend observed in FY’24.

This wage growth, coupled with employment increases and rising investments, bodes well for India’s consumption-driven economy, providing a solid foundation for continued economic stability.

A Bright Future Ahead

The interim results from CII’s survey, while not yet complete, paint a promising picture for India’s economic future. With robust plans for private-sector investments, widespread job creation, and wage growth, India is poised for a period of sustained economic growth. These trends align with the government’s vision of creating a developed nation by 2047, supported by strong private-sector engagement and a thriving job market.

As India navigates the challenges posed by the global economy, the optimism reflected in this survey offers a hopeful glimpse into the country’s long-term growth prospects, signaling a future marked by robust economic performance, employment opportunities, and a vibrant private sector.

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Speaking on the occasion, Shekhawat reflected on the importance of a nation’s ability to connect with its diaspora, quoting Mahatma Gandhi, who famously stated that a nation’s strength lies not only in its resources and geography but in its ability to maintain relationships with its people, wherever they may be. “This idea resonates throughout the cultural and economic ties that bind India and its diaspora,” he said, underlining the vital role of the global Indian community in strengthening India’s standing on the world stage.

Shekhawat also spoke with pride about the Indian diaspora’s contributions to diverse fields worldwide. He highlighted how Indian scientists are making significant advancements in quantum computing and climate solutions in European research institutions. In the UK alone, Indian-owned businesses contribute to the creation of over 100,000 jobs, with similar success stories emerging across the globe, according to the minister.

Furthermore, Shekhawat addressed India’s growing influence through soft power, pointing to the nation’s rich cultural diversity. He emphasized that India’s soft power—rooted in traditions such as yoga, Ayurveda, cuisine, and art—has gained global admiration. “Our culinary heritage, while evolving, has remained true to its roots. My heart swells with pride when I witness Diwali celebrations at Times Square and Holi festivities at Trafalgar Square. India’s soft power is leaving a lasting impression across continents,” he added.

In his remarks, Shekhawat extended a warm invitation to the Indian diaspora for the upcoming Mahakumbh festival, one of India’s largest spiritual celebrations, taking place from January 13 to February 26 in Prayagraj, Uttar Pradesh.

The Pravasi Bharatiya Divas (PBD) Convention is a key event organized by the Government of India, offering a platform for the Indian diaspora to connect, engage, and exchange ideas. This year’s 18th edition of the convention, hosted in partnership with the State Government of Odisha, is being held in Bhubaneswar from January 8 to 10. The theme of the convention, “Diaspora’s Contribution to a Viksit Bharat,” attracted participation from over 50 countries.

Through this event, Shekhawat emphasized the growing importance of the Indian diaspora in India’s journey toward progress, prosperity, and global leadership.

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During his address, Jaishankar pointed out that women-led development had already been incorporated into India’s foreign policy. He emphasized the necessity of involving women in all societal spheres, which is central to India’s progress toward becoming a developed nation. He also noted that during India’s chairmanship of the G20 Summit, the country strongly advocated for the concept of women-led development, ensuring its inclusion in the G20’s conceptual framework. This advocacy was also highlighted during the Summit of the Future.

Jaishankar elaborated on India’s development cooperation with nations, particularly in the Global South, where the country engages in various projects and capacity-building efforts across 78 countries. He remarked that many of these initiatives focus on gender-sensitive issues, women’s equality, and opportunities, illustrating how these goals are deeply embedded within India’s foreign policy.

The External Affairs Minister also linked the advancement of women to the broader goal of achieving a Viksit Bharat, stressing that a modern, industrial, and tech-centric society could not overlook half of its talent. He emphasized the importance of addressing traditional and societal barriers to women’s participation in the economy and development.

Jaishankar further discussed the role of women role models, emphasizing the need to make these examples not just visible but also trends that can be internalized and replicated across society for broader transformational change.

In his concluding remarks, Jaishankar pointed out that while economic metrics such as GDP and infrastructure are often used to measure the progress of a nation, true development must also consider the human side of progress—an aspect that includes ensuring gender equality and women’s empowerment.

The Pravasi Bharatiya Divas (PBD) Convention, held annually, serves as a significant platform for the Indian government to engage with the global Indian diaspora. This year’s 18th edition, organized in collaboration with the Odisha state government, took place in Bhubaneswar from January 8 to 10. The theme of this year’s convention, “Diaspora’s Contribution to a Viksit Bharat,” reflects India’s focus on leveraging the diaspora’s support in shaping the nation’s future. Over 50 countries are represented by diaspora members who have registered for the event, underscoring the global significance of the gathering.

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