The state is home to a large number of MSME units. The state is amongst the top ten states accounting for the highest number of MSME enterprises.
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) was estimated to be Rs. 8.65 trillion (US$ 103.84 billion) in 2023-24. Odisha’s GSDP is expected to increase at a CAGR of 11.92% between 2016-17 and 2023-24.
According to the DPIIT, cumulative FDI inflows in the state stood at US$ 168.55 million between October 2019- March 2024.
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. The value of minerals produced in the state reached Rs. 87,086 crore (US$ 10.78 billion) in 2021-22.
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$ 11.93 billion in FY24. Iron ore, iron & steel and aluminium & aluminium products accounted for a majority share in the overall exports from the state.
Note: *-Excluding fuel minerals, atomic minerals and minor minerals, ^- Until February month of that particular fiscal year, As per first advance estimates