Bhubaneswar: Odisha needs to sustain annual economic growth of over 10 per cent, shift from mineral extraction to high-value industries and expand its export base beyond a handful of districts to emerge as a developed economy by 2047, former NITI Aayog vice-chairman Rajiv Kumar said at a discussion forum here.
Addressing a forum titled “Developed Odisha: Progress, Potential and the Path Ahead towards 2047”, organised by the Pahle India Foundation (PIF) at Vivanta Hotel in Bhubaneswar on Friday, Kumar called for structural reforms to translate the state’s resource wealth into sustainable and regionally balanced economic growth.
Kumar, chairman of PIF, noted that Odisha accounts for 44 per cent of India’s total mineral value but needs to move towards capital-intensive, high-value industries such as green steel, green aluminium, green hydrogen and rare-earth magnets. He stressed the need to strengthen connectivity between mineral-producing regions and ports to facilitate industrial expansion and exports.
He set a target of increasing Odisha’s merchandise exports from around USD 11 billion at present to USD 100 billion by 2036. Pointing out that eight districts account for 83 per cent of the state’s merchandise exports, he called for targeted interventions in the 15 districts lagging behind in exports.
To bridge regional disparities, Kumar proposed a district-level strategy centred on identifying a product under the ‘One District, One Product’ initiative, securing a global lead buyer, establishing a partner processing centre and ensuring road or rail connectivity to a port.
He also highlighted the opportunity presented by Odisha’s demographic dividend, which he said would remain available until 2036, and stressed the need to equip young people with skills aligned with the requirements of industries expected to expand in the state.
If Odisha sustains growth of more than 10 per cent annually, its per capita income could reach around USD 18,000 by 2047, putting it above the World Bank’s threshold for a high-income economy, Kumar said. He underscored the importance of developing high-value mineral-based industries, green metal production facilities and globally competitive industrial hubs while integrating less export-oriented districts into global value chains.
Chief Secretary Anu Garg, who attended the event as the chief guest, said the state government had prepared a vision document targeting a USD 500-billion economy by 2036 and a USD 1.5-trillion economy by 2047, in alignment with the national vision of Viksit Bharat 2047.
She identified the EDGE framework — Economic Strength, Demography, Geography and Ecosystem — as a key pillar of the state’s development strategy.
On economic strength, Garg emphasised the efficient use of mineral resources, fiscal discipline, improved revenue mobilisation, protection of water resources and increased capital inflows through investments.
Highlighting the state’s demographic potential, she stressed the role of educational institutions and World Skill Centres in preparing young people for emerging employment opportunities and evolving industrial requirements.
She also called for sustainable utilisation of iron ore and other mineral resources, while identifying the blue economy, deep-sea fishing and marine-based activities as areas with significant growth potential. Strengthening the ease of doing business and creating a conducive environment for investment and industrial development would be essential, she added.
The Chief Secretary said Odisha was according priority to emerging sectors such as information technology, semiconductors, data centres, education and healthcare. Tourism and agriculture would also contribute significantly to economic expansion, while the state’s long coastline and marine resources offered opportunities for investment and employment generation.
Emphasising that development must extend beyond economic growth, Garg identified prosperity, health and equity as key pillars for improving living standards, strengthening social welfare and ensuring inclusive development.
Expressing confidence in the state’s capabilities, she said achieving the vision of Developed Odisha 2036 would also help advance the country’s broader ambition of becoming a developed nation by 2047.
A report prepared by PIF in collaboration with Diageo India was released at the event. The study highlighted the importance of integrating local supply chains to ensure that industrial activity generates wider economic benefits. It also stressed the need for a predictable regulatory framework and stronger collaboration between the government and industry.
PIF Chief Project Officer Abhishek Jha, along with Jalaja Menon and Debashish Dasgupta of Diageo India, attended the programme and made presentations on the forum’s themes.
