Overview
Odisha, a key state in eastern India, recorded a GSDP of ₹6.17 lakh crore in 2023–24, with a growth rate of 10.3%. The state’s per capita income stands at ₹1,18,472, indicating a developing economy. Odisha’s economy is primarily driven by mining, manufacturing, and agriculture. Bhubaneswar, the capital, is a hub for services and IT, while regions like Rourkela and Jajpur are critical for steel and mineral processing industries.
Why Invest in Odisha
- Mineral Resources: Rich in minerals, particularly iron ore, coal, and bauxite.
- Industrial Growth: Expansion in steel, aluminum, and heavy industries.
- Strategic Location: Coastal access provides trade advantages with ASEAN and other global markets.
- Government Support: Strong industrial policies focused on manufacturing, mining, and infrastructure.
Incentives & Schemes
- Industrial Policy: Investment incentives in sectors like steel, metal, and cement.
- Mineral Processing: Special focus on setting up mineral processing units and value-added industries.
- Infrastructure Initiatives: Government focus on improving ports, roads, and logistics to support industrial growth.
Key Economic Data: Odisha
| Category |
Details |
| Capital |
Bhubaneswar |
| GSDP (2023–24) |
₹6.17 lakh crore |
| Growth Rate |
10.3% |
| Per Capita Income |
₹1,18,472 |
| Top Sectors |
Mining, Steel, Agriculture, Manufacturing |
| FDI Share in India |
1.5% |
| Top FDI Sources |
Japan, Singapore |
| Cumulative FDI (FY2024) |
₹5,300 crore (Q1) |
| Policy Impact |
Focus on industrial growth, infrastructure, and mineral processing |
| Recent FDI |
₹1,000 crore (2020–21) |
Latest Insights
- Odisha attracted ₹5,300 crore in cumulative FDI by Q1 FY2024.
- Steel and mineral processing industries remain central to the state’s economic strength.
- Government policies are driving growth in manufacturing and infrastructure, particularly in mineral-rich regions.
