Bhubaneswar: In a major push to position Odisha as a leading life sciences destination, Chief Minister Mohan Charan Majhi on Friday announced the development of two dedicated industrial parks — a 500-acre Odisha Pharma Park in Nayagarh and a 200-acre Odisha MedTech Park in Khordha.
Presenting the annual Budget for 2026–27 in the Odisha Legislative Assembly, the Chief Minister said the parks will be developed by the Odisha Industrial Infrastructure Development Corporation (IDCO) to strengthen the state’s pharmaceutical and medical devices manufacturing ecosystem.
The announcement follows the launch of the Odisha Pharmaceutical & Medical Devices Policy 2025 after the Odisha Pharma Summit. The policy aims to build a globally competitive and innovation-driven ecosystem in the state’s life sciences sector.
Majhi said that to accelerate investments and attract leading companies, two high-level roundtable meetings were organised in Hyderabad and Kolkata. During these engagements, top industry leaders were invited to establish manufacturing units in Odisha.
The proposed 500-acre Pharma Park in Nayagarh will cater to bulk drug manufacturers, formulation units, and allied industries, while the 200-acre MedTech Park in Khordha will focus on medical devices manufacturing and related innovations. By providing world-class infrastructure and cluster-based development, the parks are expected to significantly reduce operating costs for companies and enhance export competitiveness.
The Chief Minister asserted that the twin parks will serve as growth engines for the sector, helping Odisha emerge as the premier life sciences hub of Eastern India. Besides boosting industrial output, the initiative is projected to generate substantial employment opportunities across skill levels, contributing to inclusive economic growth.
“With these focused interventions, Odisha is poised to build a robust pharmaceutical and medical devices manufacturing base that can compete globally,” Majhi said during his Budget speech.
