Introduction
Odisha is located in the eastern region of India. The state shares its borders with West Bengal on the north-east, Jharkhand on the north, Andhra Pradesh on the south, Chhattisgarh on the west, and the Bay of Bengal on the east.
The state’s economy witnessed high growth rates between 2016-17 and 2020-21, with GSDP of the state growing at a CAGR of 8.53%. Cumulative FDI inflows in the state amounted to US$ 69.52 million between October 2019-December 2021.
Odisha has emerged as the key state with regard to the mineral and metal-based industries. In 2019-20^, Odisha contributed to the largest share (43.0%) of mineral production (by value*) in India. Value* of minerals produced in the state reached Rs. 299.19 billion (US$ 4.03 billion) in 2020-21^.
Odisha is the first state in India to have undertaken reform and restructuring initiatives in the power sector. As of August 2021, Odisha accounted for a total installed power generation capacity of 12,311.64 megawatts (MW).
Odisha has a well-developed social, physical, and industrial infrastructure, and the state government has undertaken several infrastructural projects to further promote overall development. The state's infrastructure includes well-connected road and rail networks, airports, ports, power, and telecom.
Key Sectors
- Total merchandise exports from Odisha stood at US$ 10.22 billion in FY21 and US$ 15.14 billion in FY22 (until February).
- Odisha’s industries are based mainly on the natural resources available in the state. It carries more than 35% of country’s natural resources. The state has significant reserves of iron ore, bauxite, nickel, coal, etc. Hence, it is an attractive destination for mineral-based industries. In March 2021, ArcelorMittal-Nippon Steel India and the Odisha government signed a MoU to establish a 12 MT integrated steel plant in the state, with an investment worth Rs. 50,000 crore (US$ 6.88 billion).
- In Union Budget 2021, Odisha allocated 6.4% of its total expenditure on health, (higher than the average allocation for health by other states (5.5%), 7.5% on rural development (higher than the average allocation for rural development by other states (6.1%) and 7.8% on roads and bridges (higher than the average allocation by states (4.3%).
- In Maritime India Summit 2021, the government announced to establish Odisha as the hub of maritime trade.
- In 2020, ~4.6 million domestic tourists and 10,206 foreign tourists visited Odisha.
*- Excluding fuel minerals, atomic minerals and minor minerals, ^- Until February month of that particular fiscal year
FACTFILE
Capital
BhubaneswarGeographical Area (sq km)
155,707State Language
Oriya, Hindi and EnglishLiteracy Rate
72.87 per centKey Industries:
Iron & Steel
Ferroalloy
Aluminium
Mining
Handloom
IT and ITeS
Tourism
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