How Can Odisha Achieve Fivefold Growth to Become a $500-Billion Economy by 2036?
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Synopsis
Chief Minister Mohan Charan Majhi highlights the need for Odisha to grow fivefold in economic terms to reach the ambitious target of a $500 billion economy by 2036. The strategy involves significant investments in various sectors, including IT and infrastructure, aiming to create numerous job opportunities and position the state as a major industrial hub.
Key Takeaways
- Odisha aims for a $500 billion economy by 2036.
- Fivefold growth is necessary in the next decade.
- Investment strategies focus on infrastructure and industry.
- IT and semiconductor sectors are being developed.
- Significant job opportunities are anticipated.
Bhubaneswar, Nov 25 (NationPress) Chief Minister Mohan Charan Majhi announced on Tuesday that for Odisha to achieve its ambition of becoming a $500-billion economy by 2036, it must experience a fivefold increase in economic growth within the next decade.
During the inauguration of the two-day ‘Samruddha Odisha 2036’ Conclave, hosted by the Utkal Chamber of Commerce & Industry Limited (UCCIL), CM Majhi indicated that Odisha's economy currently stands at approximately $120 billion.
“To elevate it to $500 billion by 2036, we are targeting nearly fivefold growth in the next 10-11 years. Our focus is on infrastructure, industry, and skill development. To date, investments worth Rs 2 lakh crore have been made, resulting in the establishment of 84 industries and creating 1.64 lakh employment opportunities,” he mentioned.
He also noted that Fintech and Insurtech firms are being launched in Bhubaneswar to position the city as a central hub for the IT sector.
The Chief Minister revealed that, in addition to significant IT companies, two semiconductor industries are set to be established.
Furthermore, the Capital Region Ring Road will enable extensive expansion of the Cuttack-Bhubaneswar twin city.
“We are dedicated to transforming Bhubaneswar into a mega tech city in the eastern part of India,” he added.
Majhi expressed that the conclave aligns with the state's development trajectory, including initiatives like Utkarsh Odisha, Make in Odisha, and the Vision 2025 framework.
“The state government is persistently working to fortify Odisha's industrial base. Organizations such as UCCIL are pivotal in enhancing our efforts,” he stated.
The Chief Minister reiterated that the government is prioritizing both large industries and MSMEs, providing policy incentives, assistance for project implementation, and support for seamless operations.
Majhi underscored Odisha's growing status as one of India's emerging industrial centers.
“With the collaboration of institutions and the government, Odisha is advancing on all fronts. The state will soon rank among the top five in the country in the economic sector with a $500 billion economy. Odisha is progressing in various industry sectors through investments in port-based industries, green energy, green hydrogen, textiles, IT, chemicals, and petrochemicals,” he asserted.
Highlighting ongoing and future investments, Majhi mentioned the Indian Oil Corporation's Rs 80,000-crore petrochemical investment and the Union government's sanction of Rs 50,000 crore for shipbuilding.
He further indicated that Odisha is on the verge of becoming a major hub for IT, electronics, and semiconductor-related development.
“The state is fostering the right ecosystem for advanced technologies. Odisha is destined to emerge as a significant study and innovation center in the eastern region,” he stated.
Majhi concluded by stating that the state’s commerce, industry, and technology-driven development will evolve Odisha into a prosperous and future-ready state by 2036.
Point of View
Odisha's ambitious economic plans reflect a proactive approach to development. The emphasis on infrastructure and industry, coupled with significant investments in technology and sustainable practices, positions the state as a future leader in India's economic landscape. Continuous government support for both large industries and MSMEs is crucial for achieving these goals and fostering inclusive growth.
NationPress
25/11/2025
Frequently Asked Questions
What is the current size of Odisha's economy?
Odisha's economy is currently around $120 billion.
How does Odisha plan to achieve a $500 billion economy?
Odisha plans to achieve this by focusing on fivefold economic growth through investments in infrastructure, industry, and skill development.
What initiatives support Odisha's economic growth?
Key initiatives include 'Utkarsh Odisha', 'Make in Odisha', and the 'Vision 2025' framework.
What sectors are being prioritized for investment?
Investments are prioritized in IT, green energy, port-based industries, textiles, chemicals, and petrochemicals.
How many jobs are expected to be created?
Approximately 1.64 lakh employment opportunities are projected to be created.
