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.
At current prices, the state’s gross state domestic product (GSDP) is projected to be Rs. 7.2 trillion (US$ 87.39 billion) in 2022-23BE.
According to the DPIIT, cumulative FDI inflows in the state stood at US$ 130.89 million between October 2019-June 2022.
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 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.
Total merchandise exports from Odisha stood at US$ 5,393.35 million in FY23 (until August 2022).
Key Sectors
- In the State Budget 2022-23, Odisha has allocated 7.8% of its total expenditure on roads and bridges, which is significantly higher than the average allocation by states (4.7%).
- Total traffic handled by Paradip Port reached 63,729 thousand tonnes during April-September 2022.
- As of August 2022, Odisha had a total installed power generation capacity of 7,648.56 MW, of which 1,530.85 MW was under the central utilities, 3,840.52 MW (under state utilities) and 2,277.19 MW (under private sector).
- Total merchandise exports from Odisha stood at US$ 10.22 billion in FY21 and at US$ 15.14 billion in FY22 (until February).
- In 2021-22, at current prices, agriculture, industry (including mining), and services sectors are estimated to contribute 21%, 40%, and 40% to the economy, respectively.
- As of July 2022, the state had five operational, five notified and seven formally approved SEZs.
- In 2021-22*, the total production of horticulture crops in the state was expected to be 13,062.98 thousand tonnes and area under production was 1,463.76 thousand hectares. In 2021-22*, the total production of vegetables and fruits was estimated at 9,523.71 thousand tonnes and 2,782.05 thousand tonnes, respectively.
- In 2021, 374.22 million domestic tourists and 2,269 foreign tourists visited Odisha.
- 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.
*- Excluding fuel minerals, atomic minerals and minor minerals, ^- Until February month of that particular fiscal year, As per first advance estimates
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
Related News
MOREPartners
