Bhubaneswar: Chief Minister Mohan Charan Majhi Tuesday said that Odisha must achieve fivefold economic growth over the next decade to realise its goal of becoming a $500-billion economy by 2036.
While Minister inaugurating the two-day ‘Samruddha Odisha 2036’ Conclave organised by the Utkal Chamber of Commerce & Industry Limited (UCCIL), CM Majhi stated that the current size of Odisha’s economy is around $120 billion.
“To increase it to $500 billion by 2036, we will need to achieve nearly fivefold growth in the next 10–11 years. For this, we have been focusing on infrastructure, industry, and skill development. As you all know, so far projects worth Rs 2 lakh crore have been invested, leading to the foundation-laying of 84 industries, with 1.64 lakh employment opportunities,” he said.
He further said that Fintech and Insurtech companies are being set up in Bhubaneswar to make it a hub for the IT sector.
The Chief Minister informed that, along with major IT firms, two semiconductor industries are also being established.
Similarly, the Capital Region Ring Road will facilitate large-scale expansion of the Cuttack–Bhubaneswar twin city.
“We are working to develop Bhubaneswar into a mega tech city in the eastern region of the country,” he added.
Majhi said the conclave aligns with the state’s development roadmap, including Utkarsh Odisha, Make in Odisha, and the Vision 2025 framework.
“The state government is working consistently to strengthen Odisha’s industrial foundation. Platforms like UCCIL are helping amplify our efforts,” he said.
The Chief Minister emphasised that the government is giving equal priority to large industries and the MSMEs, offering policy incentives, support for the grounding of projects, and facilitation for smooth operations.
Majhi highlighted Odisha’s growing reputation as one of India’s emerging industrial hubs.
“With the cooperation of institutions and the government, Odisha is progressing on all fronts. Soon, the state will be among the top five states in the country in the economic sector, with a $500 billion economy. Odisha is making progress in the industry sector through investments in Port-based industries, green energy, green hydrogen, textile and Apparel, IT, chemicals, and petrochemicals sectors,” he said.
Listing ongoing and upcoming investments, Majhi highlighted the Indian Oil Corporation’s Rs 80,000-crore petrochemical investment, the Union government’s approval for investment of Rs 50,000 crore in shipbuilding.
He further said Odisha is poised to become a major centre for IT, electronics, and semiconductor-related development.
“The state is creating the right ecosystem for advanced technologies. Odisha will soon emerge as a major study and innovation hub in the eastern region,” he said.
Majhi concluded that the state’s commerce, industry, and technology-driven development will shape Odisha into a prosperous and future-ready state by 2036.
IANS
