Odisha clears ₹452 crore power electronics hub with IIT-Bhubaneswar

Odisha has received approval for a ₹452-crore National Industry Co-Development Hub focused on integrated power electronics, Chief Minister Mohan Charan Majhi said on Saturday. The project will be developed in collaboration with IIT-Bhubaneswar, with the state government contributing ₹125 crore.
Speaking to reporters after his two-day visit to New Delhi, Majhi said the hub will promote advanced research and help convert innovations into commercially viable technologies. The initiative is part of Odisha’s efforts to establish a strong semiconductor and advanced technology ecosystem.

Majhi attended Semicon India 2026 and a conference of state finance ministers chaired by Union Finance Minister Nirmala Sitharaman during his Delhi visit. At the meeting, he sought Centre-state cooperation for agricultural logistics, cold storage and warehousing, along with viability gap funding and multilateral financing for energy infrastructure.

He also highlighted the proposed Odisha Silicon Valley at Naraj in Cuttack, saying it could create high-skilled employment opportunities for young people within the state.
The Chief Minister said Odisha is gradually shifting from a resource-driven economy towards a knowledge and technology-based economy. He also announced that a Letter of Intent had been signed with QuadQuantum for silicon carbide substrate wafer manufacturing.
During the visit, Odisha held discussions with companies including Lam Research, Applied Materials, SiCSem, 3D Glass Solutions and Intel, as well as delegations from Japan, Sweden and Taiwan.