To become a USD 500 billion
growth engine by 2047
THEBUSINESSBYTES
BUREAU
BHUBANESWAR, FEBRUARY 7,
2026
Announcing an ambitious
economic transformation roadmap, Odisha Chief Minister Mohan Charan Majhi on Saturday
declared that the Bhubaneswar–Cuttack–Puri–Paradeep Economic Region (BCPPER),
currently valued at USD 22.4 billion, will be scaled up to a USD 500 billion
economy by 2047, positioning it as a new star in India’s growth landscape.
The Chief Minister made the
announcement while inaugurating the comprehensive Economic Plan for BCPPER at
the Convention Centre of Lok Seva Bhawan. Prepared by NITI Aayog, the plan lays
out a long-term vision to develop the region as a major engine of economic
growth for Odisha and the country. The event was attended by NITI Aayog Member Rajiv Gauba and CEO B.V.R. Subrahmanyam, along with senior state
officials.
Describing BCPPER as a future
hub of innovation, industry and inclusive growth, the Chief Minister said the
region would be developed as a “laboratory of development and prosperity.” He
emphasised that each constituent city brings a distinct strength to the
economic ecosystem — Bhubaneswar as a technology and innovation hub, Cuttack as
a centre of business and trade, Puri as a global cultural and tourism
destination, and Paradeep as a driver of port-led industrial growth.
The Economic Plan envisages
seamless integration of these cities through world-class infrastructure and
coordinated development. More than 80 major projects have been identified
across key sectors including metal downstream industries, biotechnology,
textiles, chemicals, tourism, education and information technology. In
addition, over 30 policy initiatives will be rolled out to catalyse investment,
innovation and job creation across the region.
Highlighting strong central
support, the Chief Minister noted that the Union Budget 2026–27 has announced
the creation of City Economic Regions, with BCPPER included among them. A
financial provision of ₹5,000 crore has been earmarked by
the Central Government for the development of each such region. He added that
BCPPER currently
contributes nearly 19 percent to Odisha’s economy and holds the potential to
drive unprecedented economic expansion over the next two decades.
Under the guidance of Prime
Minister Narendra Modi and with active collaboration between the Centre, NITI
Aayog and the state’s double-engine government, Odisha is committed to transforming
BCPPER into a nucleus of economic resurgence, the Chief Minister asserted.
Housing and Urban Development
Minister Dr. Krishna Chandra Mahapatra termed the Economic Plan a milestone in
Odisha’s development journey, stating that it would play a decisive role in
shaping the state’s future. He said similar economic plans would be prepared
for other major urban centres, underscoring the government’s focus on
urbanisation. The creation of 28 new Notified Area Councils, seven
municipalities and one municipal corporation, he added, reflects this
commitment.
NITI Aayog Member Rajiv Gauba
described BCPPER as a foundational pillar of the “Developed Odisha” vision,
noting that among 20 major city proposals nationwide, BCPPER has been ranked
among the top five. He said the region’s growth would directly translate into
improved living standards for its people and urged swift implementation of the
plan.
NITI Aayog CEO B.V.R.
Subrahmanyam highlighted the critical role of cities in national growth, pointing
out that 70 to 80 percent of India’s GDP is generated from urban areas. With a
target to bring more than half of India’s population under urbanisation by
2047, he said the BCPPER plan — NITI Aayog’s fifth such initiative after
Mumbai, Surat, Visakhapatnam and Varanasi — would contribute significantly to
the vision of a developed India.
Chief Secretary Anu Garg
welcomed the dignitaries and outlined the state’s development vision, while
Additional Chief Secretary of the Housing and Urban Development Department, Usha
Padhee, proposed the vote of thanks, marking the conclusion of the landmark
event.
