Bhubaneswar: Former Chief Minister Naveen Patnaik on Monday announced that Odisha has recorded the highest industrial growth in the country over the past decade, marking a significant milestone in the state’s economic development.
Citing a recent report by ICRA Limited, Patnaik stated that Odisha’s industrial Gross State Value Added (GSVA) grew at a compound annual growth rate (CAGR) of 10% between FY2015 and FY2024 — the highest among all Indian states.
This impressive performance was primarily driven by a surge in manufacturing activity and a proactive approach to industrial policy.
“The growth was mainly fueled by the manufacturing sector. With constant efforts to attract investment through ‘Make in Odisha’ and meticulous nurturing of the industrial environment, the industry’s share in GSVA has reached 51% in 2024 — one of the highest in the country,” Patnaik noted in a post on social media platform X (formerly Twitter).
Glad to share that #Odisha’s industrial gross state value added (GSVA) grew at a compound annual growth rate (CAGR) of 10% between FY2015-FY2024, highest among all states as per the report from @ICRALimited. The growth was mainly fueled by manufacturing sector. With constant… pic.twitter.com/y69sKOYwgI
— Naveen Patnaik (@Naveen_Odisha) May 12, 2025
Odisha also recorded the second-highest GSVA growth at constant prices — over 7% — compared to the national average of 5.8%. Patnaik emphasized that this achievement reflects the transformative impact of industrialization on the state’s economy and its people.
“The sustained industrial growth not only transformed Odisha’s economy but also brought prosperity to its people. This would not have been possible without the support of Odisha’s 4.5 crore citizens. I thank the people of Odisha for being partners in this transformative journey,” the post read.
