Odisha has entered its second industrial revolution; the state will become a $500 billion economy by 2036: Chief Minister Majhi

THEBUSINESSBYTES BUREAU

BHUBANESWAR, APRIL 18, 2026

 “Odisha has entered its second industrial revolution; the state will become a $500 billion economy by 2036,” said Chief Minister Mohan Charan Majhi while inaugurating the state-of-the-art manufacturing unit of Weightrack India Private Limited at Infovalley-II in Khordha on Saturday.

Expressing pride, the Chief Minister said that a brand founded by Odia entrepreneurs on Odisha’s soil has today emerged as one of India’s leading players in smart infrastructure and artificial intelligence. He congratulated the entire team of Weightrack India, noting that its rise as the country’s fourth-largest weighbridge manufacturer is a matter of great pride for the state.

Highlighting the government’s industrial vision, Majhi said Odisha is witnessing a sustained phase of industrial transformation under the current administration. While earlier focus was largely on mining-based industries, the state has now successfully attracted investments in ‘New Economy’ sectors such as AI, semiconductors, textiles, and pharmaceuticals. He informed that projects worth approximately ₹2.80 lakh crore have already been grounded, which are expected to generate more than two lakh employment opportunities in the coming years.

Reiterating the state’s long-term economic goals, the Chief Minister said Odisha aims to become a $500 billion economy by 2036 and scale up further to a $1.5 trillion economy by 2047.

Emphasizing the role of national initiatives, he credited Prime Minister Narendra Modi’s ‘Purvodaya’ vision for significantly contributing to Odisha’s development journey. He added that the state government is facilitating industries with ‘Plug & Play’ infrastructure and empowering district collectors with greater authority to expedite industrial decisions.

On the issue of women’s empowerment, Majhi stressed the importance of political representation for women and criticized the failure to pass the Nari Shakti Vandan Adhiniyam in the Lok Sabha, calling it deeply unfortunate. He termed it an injustice to women and said that the women of Odisha would not forgive such actions.

Speaking on the occasion, Fisheries and Animal Resources Development Minister Gokulananda Mallik described MSMEs as the backbone of the Indian economy. He expressed gratitude to the Chief Minister for enabling easier access to land and loans for MSME industries.

Cooperation Minister Pradeep Bal Samanta lauded the state government’s commitment towards MSMEs, stating that Odisha has emerged as a leading destination for setting up such industries.

Among others present at the inaugural event were Managing Director of Weightrack, Pradeep Kumar Nayak, and senior functionary Sameer Mohanty, along with other distinguished guests.