Odisha Will Be the Growth Engine of India by 2047: Chief Minister Majhi

Chief Minister Mohan Charan Majhi stated that Odisha aims to be a significant contributor to India's growth, aspiring to become a growth engine by 2047. He made this announcement while inaugurating Resurgent Odisha 2024, a business conclave organised by Utkal Chamber of Commerce and Industry Limited (UCCIL) in collaboration with the MSME Department of the Odisha government.

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The event, which began on Friday, will continue until September 1. Majhi highlighted that Odisha's economy is projected to reach Rs 41 lakh crore by 2036, coinciding with the state's centenary. "We also desire to reach a 1.5 trillion-dollar economy by 2047," he added, noting the state government's swift progress towards these goals.

Industrialisation and Employment

Majhi stressed the state's dedication to industrialisation, which he believes will generate numerous job opportunities for young people. He pointed out that Odisha, with three-fourths of its population relying on agriculture, must balance industrial growth with agricultural needs. The state government is focusing on both large-scale industries and small and medium enterprises, including agro-based industries.

"If industrialisation progresses, it will provide ample employment opportunities for our youth, ensuring they no longer have to worry about earning a livelihood," said Majhi. He also reaffirmed the government's commitment to the Purvodaya development initiative, aiming for Odisha to lead in this endeavour.

Value Addition and Investment

Deputy Chief Minister Kanak Vardhan Singh Deo urged industries to focus on adding value to agricultural products within the state. Singh Deo mentioned the government's initiative to offer land leases at no cost to companies willing to set up industries in Odisha, highlighting the state's potential as a leading industrial hub in India.

Odisha Industries Minister Sampad Chandra Swain announced plans for the upcoming Utkarsh Odisha Investors Summit. The state aims to secure Rs 2.5 lakh crore in investments by 2029. Additionally, an FDI Park targeting USD 2 billion in Foreign Direct Investment (FDI) will be established.

Future Goals and International Relations

Swain emphasised Odisha's goal to increase its contribution to India's exports to 2.5 per cent and eventually secure the third position by 2047. He also mentioned the government's focus on attracting investments in green hydrogen, semiconductors, and IT sectors.

China's Consul General Xu Wei highlighted Odisha's rapid growth and rich mineral resources. He stressed the importance of strengthening trade ties between India and China, particularly with eastern states like Odisha. Bilateral trade between India and China currently stands at USD 130 billion.

The chief minister's vision includes creating a balanced approach towards industrialisation while ensuring agricultural needs are met. This strategy aims to provide ample employment opportunities for the youth and drive economic growth.

The Resurgent Odisha 2024 conclave serves as a platform for discussing these ambitious plans and attracting potential investors. The state's efforts towards industrialisation and value addition in agriculture are expected to transform it into a major economic hub in India.