Bhubaneswar :  Prime Minister Narendra Modi emphasised India’s commitment to domestic value addition during his address at the ‘Utkarsh Odisha, Make in Odisha Conclave’ in Bhubaneswar on Tuesday, expressing strong opposition to the practice of exporting raw materials while importing finished products. 

The Prime Minister articulated India’s economic trajectory, highlighting the nation’s proximity to achieving its USD 5 trillion economy target. 

Speaking at the Janata Maidan venue, the Prime Minister identified eastern India, particularly Odisha, as a crucial driver of the nation’s economic growth. 

In his comprehensive address, Modi outlined a transformative vision for India’s industrial ecosystem, citing specific concerns about current trade practices. 

“The minerals are extracted here and exported to some other country where value addition is done and finished products are then sent back to India. This trend is not acceptable to Modi,” he stated, emphasising the need to develop robust domestic supply and value chains to minimise vulnerability to global market fluctuations. 

He identified innovation in services and product quality as the twin pillars supporting India’s economic growth, while emphasising the expanding opportunities in green technology sectors, including solar, wind, hydro, and green hydrogen initiatives, which he described as crucial for India’s development as an advanced economy. 

Addressing infrastructure development, Modi underscored the significance of connected infrastructure and multi-modal connectivity in the 21st century. He noted that India’s unprecedented pace of specialised infrastructure development would enhance its appeal as an investment destination. 

The Prime Minister also highlighted growing interest from ASEAN countries in strengthening trade relations with Odisha, announcing plans for expanded petrochemical sector development and dedicated industrial parks in Paradip and Gopalpur. 

The conclave, attended by prominent industrialists including Vedanta Group chairman Anil Agarwal, Aditya Birla Group chairman Kumar Mangalam Birla, and Jindal Steel and Power chairman Naveen Jindal, also addressed emerging economic opportunities. 

Modi particularly emphasised the potential in concert economy and conference tourism, citing recent successful events like the Coldplay concerts in Mumbai and Ahmedabad. 

He announced India’s upcoming role as host of the World Audio Visual and Entertainment Summit, highlighting the nation’s growing influence in the global creative industry.