Odisha Aims for a $500 Billion Economy by 2036, Sets Sights on Major Investments : Odisha CM

Bhubaneswar :India’s largest media conglomerate The Times of India today hosted its prestigious ‘Times Business Awards’ here on Monday.The elite platform is renowned for honouring, recognising and celebrating some of the top businesses, entrepreneurs, organisations and enterprises across the region. Hon’ble Odisha CM Shri Mohan Charan Majhi joined as chief guest and he pays a heartfelt tribute to Late Shri Ratan Tata, who recently passed away. He remembered Tata as one of the nation’s greatest industrialists and a leader in philanthropy, emphasizing his lasting influence on young entrepreneurs and his role as a model citizen.

Speaking on the occasion he said, “Odisha’s government is taking significant steps toward industrialization. The state is rich in minerals and raw materials, making it ideal for industries. Along with traditional industries, Odisha is diversifying into modern sectors such as semiconductors, ESDM, and artificial intelligence. The government is committed to creating a business-friendly environment, and efforts to attract investments have already gained momentum, with interactions between the state and industry leaders in Delhi and Mumbai generating excitement.”

Reaffirming his govt’s commitment to make Odisha as economic hub, he said, “The state aims to secure investments of over ₹5 lakh crore in the next five years and become one of India’s top five industrialized states. The government has already approved investment proposals worth ₹45,000 crore in its first 120 days, with the potential to create 36,000 jobs. This initiative is part of the larger goal of achieving a $500 billion economy by 2036 and a $1.5 trillion economy by 2047.Agriculture remains a crucial sector in Odisha, with 60% of the workforce relying on it, though it contributes only 21% to the state’s GSDP. The government plans to boost other sectors like manufacturing and services, while also offering skill training to the youth, to achieve a more balanced economic structure.”

Odisha is also investing in world-class infrastructure, such as logistics hubs, industrial parks, and smart cities, to support its industries. The state is poised to become a semiconductor hub with the construction of a Silicon Carbide manufacturing facility in Bhubaneswar already underway.

Bollywood actress and Former Miss Universe Susmita Sen graced the occasion. Sri Sampad Charan Swain, Minister of Industries, Skill Development and Technical Education also spoke on the occasion.The event concluded with awards being given in 15 different categories, celebrating the achievements of business leaders and entrepreneurs from various sectors. The Times of India was praised for its role in promoting entrepreneurship and for continuing its long-standing traditi2on of raising public issues since India’s independence.