Bhubaneswar: Odisha Chief Minister Mohan Charan Majhi on Tuesday said the state must record five-fold rise in economic growth over the next 10 years to achieve the goal of becoming a $500-billion economy by 2036.
Inaugurating the two-day ‘Samruddha Odisha 2036’ Conclave organised by the Utkal Chamber of Commerce & Industry (UCCI) in Bhubaneswar, Majhi said that the volume of Odisha’s economy now stands at around $120 billion. “In order to raise it to $500 billion by 2036, the state has to achieve around fivefold growth in the next 10–11 years. We have been focusing on infrastructure, industry, and skill development to achieve the goal,” he said.
Stressing that investments to the then or Rs Two lakh crore have been received for different projects, the Chief Minister said foundation stones have been laid for 84 industries, which are set to create 1.64 lakh employment opportunities.
Fintech and Insurtech companies are being set up in Bhubaneswar to make it a hub for the IT sector, Majhi said, adding that two semiconductor units are also being set up.
The CM emphasised that 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 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.
Stating that Odisha is making rapid progress on all fronts, he said it will soon 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.
Regarding 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.
Industries and Skill Development Minister Sampad Chandra Swain said the government had won public trust within a year and set Odisha on the path of an industrial revolution. A souvenir titled ‘Samruddha Odisha 2036’ was released on the occasion.