THEBUSINESSBYTES BUREAU

BHUBANESWAR, OCTOBER 23, 2026

Odisha must sustain annual economic growth of more than 10 per cent, move beyond raw mineral extraction to high-value manufacturing and raise merchandise exports nearly tenfold to USD 100 billion by 2036 to emerge as a developed economy by 2047, former NITI Aayog vice-chairman Rajiv Kumar said on Friday.

Addressing a discussion forum on “Developed Odisha: Progress, Potential and the Path Ahead towards 2047”, organised by the Pahle India Foundation (PIF) here, Kumar called for structural reforms, export diversification and balanced regional development to transform the state's resource wealth into sustainable economic prosperity.

Kumar, who is chairman of PIF, said Odisha accounts for 44 per cent of India's total mineral value but needs to move towards capital-intensive, high-value industries such as green steel, green aluminium, green hydrogen and rare-earth magnets to unlock its economic potential.

He also stressed the need to strengthen connectivity between mineral-producing regions and ports to facilitate industrial expansion, improve logistics and boost exports.

Setting an ambitious export target, Kumar said Odisha should increase its merchandise exports from around USD 11 billion at present to USD 100 billion by 2036. However, the state's export base remains heavily concentrated, with eight districts accounting for 83 per cent of merchandise exports, leaving considerable scope to bring the remaining districts into the global trade network.

Calling for focused interventions in the 15 districts lagging in exports, he proposed a district-level strategy under which each district identifies a product under the 'One District, One Product' initiative, secures a global lead buyer, establishes a partner processing centre and develops road or rail connectivity to a port.

Such an approach could help integrate local economies into global value chains while generating employment and reducing regional disparities, he said.

Kumar also highlighted Odisha's demographic dividend, which he said would remain available until 2036, and called for aligning skill development with the requirements of industries expected to expand in the state.

If Odisha manages to sustain annual growth of more than 10 per cent, its per capita income could reach around USD 18,000 by 2047, placing it above the World Bank's threshold for a high-income economy, he said.

He underscored the importance of developing globally competitive industrial hubs, expanding high-value mineral-based industries and establishing green metal production facilities to strengthen the state's long-term growth prospects.

Chief Secretary Anu Garg, who attended the event as the chief guest, said the state government had prepared a vision document targeting a USD 500-billion economy by 2036 and a USD 1.5-trillion economy by 2047, in alignment with the national ambition of Viksit Bharat 2047.

She identified the EDGE framework — Economic Strength, Demography, Geography and Ecosystem — as a key pillar of Odisha's development strategy.

On economic strength, Garg emphasised the efficient utilisation of mineral resources, fiscal discipline, improved revenue mobilisation, protection of water resources and greater capital inflows through investments.

Highlighting the state's demographic potential, she said educational institutions and World Skill Centres would play a crucial role in equipping young people with skills suited to emerging employment opportunities and changing industrial requirements.

Garg also called for the sustainable use of iron ore and other mineral resources, while identifying the blue economy, deep-sea fishing and marine-based activities as promising avenues for growth, investment and employment.

Improving the ease of doing business and creating a conducive environment for investment and industrial development would be essential to achieving the state's economic ambitions, she said.

The state government was according priority to emerging sectors such as information technology, semiconductors, data centres, education and healthcare, Garg said, adding that tourism and agriculture would also contribute significantly to economic expansion.

Odisha's long coastline and marine resources offered considerable opportunities for investment and job creation, she said.

Emphasising that development must extend beyond economic expansion, Garg identified prosperity, health and equity as essential pillars for improving living standards, strengthening social welfare and ensuring inclusive growth.

Expressing confidence in the state's capabilities, she said achieving the vision of Developed Odisha 2036 would also contribute to India's broader goal of becoming a developed nation by 2047.

A report prepared by PIF in collaboration with Diageo India was released at the forum. The study highlighted the importance of integrating local supply chains to ensure that industrial growth generates wider economic benefits. It also called for a predictable regulatory framework and stronger collaboration between the government and industry.

PIF Chief Project Officer Abhishek Jha, along with Jalaja Menon and Debashish Dasgupta of Diageo India, attended the programme and made presentations on the themes discussed at the forum.