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Odisha industrial and export development

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2026-08-09 18:22 UTC → 2026-08-13 02:31 UTC · added ~~removed~~

The state of Odisha is pursuing economic growth through increased export potential and industrial investment. A study by the Export-Import Bank of India projects that Odisha's merchandise exports, which were $10.8 billion in FY 2025-26, could reach an ambitious $50 billion by FY 2029-30 if the state's share of national exports doubles to 5%. This growth is expected to be driven by metal and mineral products, particularly aluminum, which currently accounts for 38.2% of exports. To support this, Exim Bank is opening a regional office in Bhubaneswar to provide financing and advisory services to exporters and MSMEs. In tandem with export goals, the state is aggressively seeking industrial investments through its ~~"Purvodaya"~~ “Purvodaya” vision. Following the ~~'Odisha~~ ‘Odisha Food Pro ~~2026'~~ 2026’ roadshow, which secured Rs 43,437 crore in investment proposals for the food processing ~~sector—including~~ sector, the ~~development of five new food parks—the~~ state expanded its outreach in the Delhi-NCR region. Chief Minister Mohan Charan Majhi concluded a two-day initiative in the region, securing investment proposals totaling ₹66,392 crore. This ~~subsequent engagement secured an additional Rs 66,392~~ included 38 Memorandums of Understanding (MoUs) worth ₹64,703 crore ~~in proposals,~~ and Investment Intention Forms worth ₹1,689 crore, potentially generating over 54,000 ~~jobs. These investments target diverse sectors, including~~ jobs in sectors such as engineering goods, textiles, ~~apparel,~~ and aluminum downstream industries. Furthering its industrial diversification, the Odisha state cabinet has expanded its semiconductor policy to attract broader investment across the chip supply chain. The revised policy extends incentives to include semiconductor equipment, specialty gases, and advanced materials. Under this framework, the state will provide fiscal assistance equivalent to 25 percent of eligible capital expenditure for projects approved under the central government’s India Semiconductor Mission. Recent approvals include an advanced packaging unit by 3D Glass Solutions Inc. and a Silicon Carbide-based compound semiconductor facility by SiCsem Private Limited.

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