ODISHA STRENGTHENS ITS POSITION AS A PRIME DESTINATION FOR FDI WITH VCL’S ENTRY

ODISHA STRENGTHENS ITS POSITION AS A PRIME DESTINATION FOR FDI WITH VCL’S ENTRY

Odisha Attracts Strategic Foreign Direct Investment

Proactive Government Policies Draw Global Investors – VCL Group Among the Latest Entrants

Bhubaneswar, 31st July 2025: Guided by the forward-looking leadership of Hon’ble Chief Minister Shri Mohan Charan Majhi, Odisha is taking bold strides towards becoming a leading hub for industrial growth and attracting Foreign Direct Investment (FDI). The state’s focused and proactive approach—including global investor outreach, targeted roadshows, and strategic policy reforms—has created a business-friendly environment that continues to attract world-class investors.

A testament to this progress is the inauguration of the corporate office of VCL India Pvt. Ltd. in Bhubaneswar. VCL India is the Indian arm of the Luxembourg-based VCL Group, a global leader in steel, glass, and energy. This development marks a significant milestone in Odisha’s FDI journey and reflects growing international confidence in the state’s investment potential. It also reinforces the success of the Government of Odisha’s efforts to position the state as a preferred destination for high-value, future-ready industries.

With rich natural resources, a skilled talent pool, world-class industrial infrastructure, and progressive policies, Odisha offers an ideal environment for sectors like steel, energy, and advanced materials manufacturing. Its strategic location and investor-friendly governance make Bhubaneswar a natural choice for VCL’s India headquarters.

Looking ahead, VCL plans to expand its operations by setting up domestic facilities, including a manufacturing unit in Odisha within the next two to three years.

The inauguration event was graced by key dignitaries, including Her Excellency Ms. Peggy Frantzen, Ambassador of Luxembourg to India; Shri Hemant Sharma, IAS, Additional Chief Secretary, Industries and I&PR Department, Government of Odisha; and Mr. Rajat Dalmia, Honorary Consul of Luxembourg in India. Their presence reflects the growing international confidence in Odisha as a strategic investment destination.

Speaking on the occasion, Shri Hemant Sharma, IAS, said,

“Odisha continues to establish itself as a preferred location for global investors, offering a stable business climate, progressive governance, and a thriving industrial base. The arrival of a reputed global player like VCL highlights this progress and reaffirms Odisha’s increasing appeal for high-value foreign investments. Such partnerships will bring innovation, generate employment, and significantly contribute to the state’s economic development.”

This development once again showcases the Odisha Government’s proactive and result-driven approach to industrial growth. With such initiatives, the state is rapidly emerging as a hub for advanced manufacturing and global collaboration in eastern India—moving steadily toward realizing the vision of Viksit Odisha by 2036, as envisioned by Hon’ble Chief Minister Shri Mohan Charan Majhi.