Bhubaneswar: Chief Minister Mohan Charan Majhi has declared that Odisha is set to play a pivotal role in India’s growth trajectory, aiming to become a key growth engine for the nation by 2047.
Majhi made this assertion during the inauguration of ‘Resurgent Odisha 2024,’ a prominent business conclave organized by the Utkal Chamber of Commerce and Industry Limited (UCCIL) in collaboration with the state’s Micro, Small, and Medium Enterprises (MSME) Department on Friday.
The conclave, which will run until September 1, has brought together industry leaders and government officials to chart Odisha’s future course.
Majhi highlighted Odisha’s ambitious economic goals, projecting that the state’s economy will reach Rs 41 lakh crore by 2036, marking 100 years since its formation. Looking further ahead, he expressed the state’s aspiration to achieve a 1.5 trillion-dollar economy by 2047, with the government making rapid strides toward these targets.
The Chief Minister underscored the importance of industrialization in driving this growth, emphasizing the creation of employment opportunities for Odisha’s youth. He pointed out that while Odisha remains an agrarian state, with three-fourths of its population relying on agriculture, there is a critical need to balance industrial expansion with agricultural development.
Majhi also stressed the government’s dual focus on large-scale industries and small and medium enterprises, including those in the agro-based sector. He noted that successful industrialization would alleviate concerns about employment among the youth, securing their livelihoods within the state.
Reaffirming Odisha’s commitment to the ‘Purvodaya’ development initiative, Majhi stated that the state is poised to lead this endeavor, contributing significantly to India’s overall progress.
Deputy Chief Minister Kanak Vardhan Singh Deo called on industries to prioritize value addition to the state’s agricultural produce. He highlighted the government’s initiative to offer land leases at no cost to companies willing to establish industries in Odisha, positioning the state as a potential industrial hub.
Industries Minister Sampad Chandra Swain shared plans for the upcoming Utkarsh Odisha Investors’ Summit, where the state aims to attract Rs 2.5 lakh crore in investments by 2029.
He also announced the establishment of an FDI Park, targeting USD 2 billion in Foreign Direct Investment (FDI), as part of the state’s strategy to enhance its contribution to India’s exports to 2.5% and eventually secure the third position in the country by 2047.
Swain emphasized Odisha’s focus on attracting investments in emerging sectors such as green hydrogen, semiconductors, and IT.
China’s Consul General Xu Wei praised Odisha’s rapid economic growth and rich mineral resources, highlighting the potential for stronger trade ties between India and China, particularly with eastern states like Odisha.
He noted that bilateral trade between the two nations currently stands at USD 130 billion.
