Odisha to be India's Growth Engine by 2047: Majhi

Bhubaneswar, Aug 30 (PTI) Chief Minister Mohan Charan Majhi said Odisha will contribute significantly to India's growth and will become a growth engine of India by 2047.

Majhi said this while inaugurating 'Resurgent Odisha 2024', a business conclave organized by Utkal Chamber of Commerce and Industry Limited (UCCIL), in collaboration with the Micro, Small, and Medium Enterprises (MSME) Department of Odisha government here on Friday. The conclave will continue till September 1.

The chief minister said that Odisha's economy is expected to reach Rs 41 lakh crore by 2036 when the state will be 100 years since its formation. "We also desire to reach a 1.5 trillion-dollar economy by 2047," he said, adding that the state government is moving fast with these ambitions.

Majhi emphasized the state's commitment to industrialization, which will create employment opportunities for the youth. He highlighted that Odisha, being an agrarian state with three-fourths of its population dependent on agriculture, must balance industrial growth with the needs of its agricultural sector.

He also noted that the state government is focusing on both large-scale industries and small and medium enterprises, including agro-based industries.

"If industrialization progresses, it will provide ample employment opportunities for our youth, ensuring they no longer have to worry about earning a livelihood," said Majhi.

He reaffirmed the government's commitment to the 'Purvodaya' development initiative, ensuring that Odisha leads in this endeavour.

Deputy Chief Minister Kanak Vardhan Singh Deo urged industries to focus on value addition to agriculture produced within the state.

Singh Deo mentioned the government's initiative to offer land leases at no cost to companies willing to set up industries in Odisha, highlighting the state's potential to become a leading industrial hub in the country.

Odisha Industries Minister Sampad Chandra Swain informed about the upcoming Utkarsh Odisha Investors' Summit, where the state aims to secure Rs 2.5 lakh crore in investments by 2029.

Additionally, the state is going to set up an FDI Park targeting USD 2 billion in Foreign Direct Investment (FDI), he said.

Swain emphasized Odisha's goal to increase its contribution to the country's exports to 2.5 per cent and eventually reach the third position by 2047. He also mentioned the government's focus on attracting investments in green hydrogen, semiconductors, and IT sectors.

China's Consul General Xu Wei highlighted Odisha's rapid growth and its rich mineral resources. He emphasized the importance of strengthening trade ties between India and China, particularly with the eastern states of India, as bilateral trade between the two nations currently stands at USD 130 billion.