Odisha is accelerating its transition from a resource-driven economy to a knowledge-based industrial hub, with a strong push into next-generation sectors like chemicals, petrochemicals, semiconductors, apparel, shipbuilding, and renewable energy. This strategic shift is being led by Sampad Chandra Swain, the state’s Minister for Industries and Skill Development & Technical Education, who recently outlined the government’s ambitious roadmap in a conversation with ET Digital.
“While metals and mining remain strong pillars, our focus now is to future-proof Odisha’s economy by investing in diversified industries that offer long-term resilience and high-value employment,” Swain said.
₹16.7 Lakh Crore Investment Intentions and Counting
Odisha hosted its largest-ever investment conclave — Utkarsh Odisha: Make in Odisha 2025 — earlier this year, drawing a record ₹16.73 lakh crore in investment intents. Already, 85 projects have broken ground, translating into ₹2.04 lakh crore in real-time investments and creating over 1.6 lakh jobs.
“We’ve moved quickly from MoUs to execution,” Swain said. “It’s not just about announcements anymore. Ground-level work has started, and the momentum is real.”
Big Bets on Semiconductors and Petrochemicals
In a significant win for the state, the Union Cabinet recently approved two semiconductor projects in Odisha:
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SiCsem’s Silicon Carbide compound semiconductor facility
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3D Glass Solutions’ advanced packaging unit
These projects represent over ₹4,000 crore in new investments and position Odisha as a serious contender in India’s semiconductor manufacturing mission.
Meanwhile, Indian Oil Corporation (IOC) has partnered with the Odisha government to build a ₹61,000 crore petrochemical complex at Paradip. It will house India’s largest dual-feed naphtha cracker, further anchoring the state’s entry into heavy chemical manufacturing.
Textile and Apparel Sector Gains Steam
The state is also reinvigorating its textile sector. During the Odisha TEX 2025 event held in July, the government announced six new textile parks and signed 33 MoUs aimed at generating over 53,000 jobs. The effort signals Odisha’s move toward labour-intensive industries that can absorb a larger portion of the state’s skilled youth.
Building the Odisha of Tomorrow
Swain noted that Odisha is not resting on its laurels. The government has conducted international roadshows in Singapore and across major Indian metros like Delhi and Mumbai to court investors.
Odisha has also signed two massive MoUs in the maritime sector:
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A National Shipbuilding Cluster in Kendrapara near Paradip (₹24,700 crore)
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A Bahuda Satellite Port in Ganjam (₹21,500 crore)
The state’s infrastructure backbone is being strengthened to support these investments, ensuring that new industries have the ecosystem they need to thrive.
Knowledge-Driven, Investor-Ready
As Odisha repositions itself, the government’s message is clear: it wants to be a destination for high-tech, sustainable, and globally integrated manufacturing.
“Our goal is to go beyond extraction—to become a hub for advanced manufacturing and innovation,” Swain affirmed.